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When you buy a new house, one of the first concerns you’ll face is finding a new homeowners insurance policy. With so many options out there, it can be hard to know which plan is right for you. Review the answers to these frequently asked questions to learn more about what this insurance covers, how much insurance you need, and how you can save money.

Common Questions About Homeowners Insurance

What types of damages won’t be covered by a standard policy?

Homeowners insurance will cover different types of damages in different locations. While land movement coverage, including earthquake coverage, isn’t standard anywhere, most states allow you to buy an added plan that covers this damage. Similarly insurance won’t cover flood damage, but you can buy this coverage as a supplement to your standard policy. Other types of damage, such as wear and tear or pest damage, also won’t be covered. Before selecting a plan, be sure to ask your agent about your coverage limitations.

How much insurance do I need?

Homeowners InsuranceThe amount of homeowners insurance you need will vary based on several factors. Generally, you should get enough coverage to rebuild your home. A good agent will take the time to get all the information on your house and its features to do an estimated reconstruction cost analysis.

How will personal liability coverage help me? 

Personal liability coverage can provide important coverage for injuries or property damage to others that you are liable for. A good policy will provide coverage for things that happen both on and off your permises. Another very important part of this coverage is it will also pay for legal fees if you're sued.

How can I lower my monthly premiums?

Some updates to your home such as a new roof or furnace will allow you to pay less for your insurance. Some features you can add to the home include security systems. Be sure to ask your insurance provider for a more comprehensive list about ways to save.

 

If you have more questions about homeowners insurance, you’re not alone. To get the answers you need, contact Daniel Oliver Insurance Agency in Edina, MN. Oliver is a member of the local community, so he can provide you with personal, relevant information about your insurance needs. To get a quote, visit his website. To arrange an appointment to discuss your needs, call (952) 925-4454.

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