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Whether you’re a first-time buyer or a long-time dweller, protecting your home from the unexpected is a top priority. Knowing the basics about homeowners insurance will help to prevent any surprises should you ever have to file a claim. Here are answers to several frequently asked questions about home insurance.

FAQ About Homeowners Insurance

How much coverage should I get?

This is a common question, and the answer varies with each policyholder. Most standard plans cover the house, surrounding property structures, personal possessions, and liabilities involving injuries to guests. Determining the amount of coverage needed typically depends on the type of home, its age, and other related factors. An experienced homeowners insurance agent is a strong resource for helping you calculate how much protection is adequate.

Can I get by without insurance?

homeowner insuranceThink about the financial investment that was made when you purchased your home. Now, consider what would happen if a storm or fire caused damage or worse — a total loss. Homeowners insurance is essential protection should something catastrophic happen. It’s certainly worth the cost of coverage. If you’re financing your home from a mortgage lender, having insurance is likely required for the loan.

What’s not covered?

This will vary with the type of policy you have. However, floods and earthquakes are not covered under homeowners insurance. You will need to secure separate policies for these disasters. There might also be limitations on personal items such as antiques, art, expensive jewelry, and guns. If you own a certain dog breed, such as a pit bull or a Rottweiler, some insurance providers may not offer coverage given their high propensity for bite claims.

How can I lower my premiums?

From installing security systems on your home to having smoke detectors, there are several ways to keep your insurance premiums affordable. Most carriers offer a variety of discounts. Ask about the ones you’re eligible for before selecting coverage. If you have insurance policies bundled with one provider, you could also qualify for lower payments.

 

Farmers Insurance Group in Mountain Grove, MO, is the agency Wright County residents and business owners continue to turn to for customized coverage. If you’re in the market for homeowners insurance, call (417) 926-7900 for a no-obligation price quote. We’re here to offer you personalized protection without high-pressured sales tactics. You can also go online for customer reviews and details on policies to protect your loved ones, vehicles, and boats.

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