Buying your first house is a major life milestone, but it also represents a significant financial commitment. Fortunately, a sound homeowners insurance policy provides vital protection for your most valuable asset along with an umbrella of coverage that shields other aspects of your life. Finding the right fit for you and your home can be complex, especially for first-time buyers, so below are answers to some common questions you may have.

A Basic Guide to Insuring Your Home

Do I have to have homeowners insurance?

While the government doesn’t require homeowners to insure their property, almost all mortgage lenders require coverage. However, even if you paid cash for the property, you should still purchase a policy to protect against storms, fires, and other threats that can quickly destroy your home.

How much coverage should I get?

Most homeowners insurance policies are based on either the fair market value of the property or the full replacement cost. In most areas, it’s best to choose a policy based on the replacement value of the property to ensure you have enough to rebuild if your home is destroyed.

What threats does homeowners insurance protect against?

While policies vary from one company to the next, the standard homeowners policy covers damages caused by fire, extreme weather events, vandalism, and theft. Most carriers also include a certain amount of personal property protection, which pays to replace any belongings lost in a covered event.

What is liability insurance and why do I need it?

If someone is injured on your property or your dog bites a neighbor, the resulting lawsuit could threaten your entire financial future. The standard homeowners insurance policy includes liability coverage, which pays the value of valid claims as well as your legal fees and other costs.

For 90 years, Foley, AL homeowners have relied on Ebert Agency Inc to protect their most valuable assets from the unexpected. With a long history of exemplary customer service and policies from some of the best insurers in the industry, you can rely on their team to provide coverage tailored to your needs. Visit their website for more on their wide range of products, or call (251) 943-2281 to request a free homeowners insurance quote today.