Why You Need Homeowners Insurance

 

If you experience damage to either personal possessions or your physical property, a typical homeowners insurance policy can help cover the financial losses along with numerous other coverages. 

 

It is a financial hazard to fail to have homeowners insurance coverage, and you can not predict the future security of your house or possessions. Stay protected by obtaining a home insurance policy. 

 

What do home insurance policies cover?

 

• Damages from extreme weather

 

• Fire or smoke damage

Fires can devastate an entire family, and the physical damage to your property can be extensive. In some cases, rebuilding the house from the bottom up is required, which is expensive and if you do not have enough coverage, you may have some out-of-pocket expenses.

 

• Burglary or vandalism

The odds of experiencing burglary are much higher than you may assume. Statistics produced by the FBI show that each year in the United States, 2.5 million burglaries occur.

 

• Additional Living Expense or Loss of Use 

Compensation for costs of living if your house is temporarily uninhabitable while it is being either rebuilt or facing repairs. 

 

• Medical Expenses or Personal Liability

 

• Personal possessions 

Furniture, appliances, clothing, electronics, and other personal items are susceptible to damage if your home suffers damage. Make sure your homeowner’s policy includes replacement cost coverage for personal property, which can ensure that you receive the cost of replacement. 

 

• Water damage

There is a common misconception that homeowners’ policies cover flood damage. Your policy may cover water damage, but this does not include flood damage, which means you could be left paying thousands out of pocket to make repairs. Learn about why you should have flood insurance here. 

 

Should you have your second home insured underneath the home insurance policy?

 

Liability increases with the addition of a secondary home, and it is crucial you extend the liability coverage under your homeowner’s policy to include your other property. Talk to an agent (610-971-2222) to learn about other coverages that could offer you additional liability limits. 

 

Why should you have a home insurance policy?

 

​​Concerning accidents that may transpire, having insurance is the difference between starting from scratch or having coverage that allows you a better chance to return to a regular lifestyle.

 

You may be asking, how?

 

Insurance companies agree to pay a predetermined amount based on your property limits. Some policies offer what is called a “Guaranteed rebuild cost on dwelling,” there is a variety of ways this guarantee may look for your policy. It all depends on the policy and coverage, which determine what you pay monthly. 

 

How much does a home insurance policy cost? 

 

The amount of coverage you need for your house entirely depends upon the cost to replace or rebuild your home. You want to ensure you are speaking to an insurance specialist, as you do not want to undervalue your property. 

 

Get coverage today!

 

The Satanoff Agency, located in Wayne, PA, is an independent insurance agency based in 41 states across the United States, working to supply our customers with quality assistance and insurance. Our independent agents offer their services to help you as the customer get the unique coverage you need.

 

To request a quote for homeowners insurance, click here and we will have one of our agents contact you.