If you’re prepping to buy a house in the near future, one of the must-have safeguards is home insurance. While most banks and other lenders require them anyway, having a policy in place protects you from costly liabilities and exorbitant out-of-pocket repair or replacement expenses. Here are answers to some of the most common questions about this important protection plan.

4 FAQ About Home Insurance Policies 

How much coverage do I need?

The answer depends on several factors, such as the house’s value and the type of home. Insurance providers also review the estimated rebuilding costs if the home was completely destroyed. Since no two homeowners are alike, one of the best ways to determine how much coverage you need is to request a free quote from a carrier. They can narrow down the amount based on your property’s unique features.

What isn’t covered?

Natural floods and earthquakes are not covered by home insurance. You will need to secure separate policies for these natural disasters. If you own high-end possessions, such as artwork, jewelry, expensive musical instruments, and collectibles, you may need additional personal property coverage in case the items are stolen or damaged.

How can I lower my premiums?

Most providers will offer discounted rates if you install security systems in your house. Smoke and carbon monoxide detectors as well as sprinkler systems may also help lower your payments. If you have other policies with the same carrier, such as car and life insurance, you could see a reduced rate as well. Customers who continue to renew their policies each year with the same provider might be eligible for loyalty discounts, too.

Does my policy protect me from lawsuits?

Most home insurance plans provide liability coverage. Should a guest sustain an injury while on your property, they could sue you for medical expenses. Liability pays for the costs up to a certain amount. The coverage typically extends to any legal fees you may have to pay if the case goes to court. However, keep in mind that liability coverage does not extend to you or family members if injuries occur in or around your home.

If you’re in the market for home insurance, contact JMS Insurance Agency in Stafford, TX. The locally owned firm can compare rates from the industry’s leading carriers to get you the best possible pricing on everything from auto or home insurance to business coverage. To get started with free, no-obligation quotes, visit the website. For any questions, call (281) 494-1500 to speak with a friendly agent.