How to Find the Right Homeowners Insurance
What is Homeowners Insurance?
It is a form of property insurance designed to protect an individual’s home against damages to the house itself, or to possessions inside of the home. Homeowners insurance also provides liability coverage against accidents in the home or on the property.
Our home in Bedford, NY is where our heart is. It’s a place we like to go to relax, after a long day at work, and spend time with our loved ones. It’s a place where we can feel safe and protected to do what we want; whether we are watching movies, eating, hosting a party, or sleeping, we know we are well protected within the walls of our home.
Why do we need home insurance?
We take out homeowners insurance for the same reasons we take out car insurance and health insurance; if a home is damaged or someone is injured on the property, insurance can help you cope with any of the financial consequences. Homeowners insurance is a combination of two different types of protection:
- Hazard Insurance: Will protect you against any unintentional damages to your home, including a fire, storm, theft, vandalism, and similar threats.
- Liability Insurance: Can cover any personal liability issues toward accidents that occur on your property. For example, if your neighbor trips on a hose in your yard and breaks their ankle, your insurance will pay for their medical expenses up to the policy.
Learn about the different types of home insurance coverage plans available for you for your home in Bedford, NY. It is important for you to make sure you receive enough coverage to be able to replace your home in case of a catastrophic event:
- Separate Structure Coverage: designed to cover outside of your home structures that aren’t attached to your home (i.e. fences, pools, tool sheds, etc.)This is normally 10% of the value of your replacement cost. For example, if the replacement cost in your house is 250,000, your separate structure is 25,000. Therefore, it’s very important that you consider all of the structures outside your home and decide whether the coverage provided by insurance is worth it.
- Personal Property: This will include all of your personal belongings like pictures, jewelry, furniture, etc. It’s important that you keep an inventory of all of your personal property and take pictures to keep on record.
- Loss of Use: This coverage will provide money for you and your family for staying elsewhere in case your home needs to be re-built and you need to stay in a hotel while the work is being done.
- Personal Liability: This provides coverage in case someone gets hurt, as described above. Try making your property as safe as possible (fence around the pool, lock on the tool shed, remove the ice around your property ASAP)
- Guest Medical: This is for in the case that someone who does not live in your home is injured on your property; health insurance will not cover this, but your Guest Medical Insurance coverage can!
- Deductible: The amount you’ll be paying out of pocket before your homeowners insurance will start paying. The higher the deductible, the lower the premium. Some home insurance companies have additional deductibles in case of a hurricane. Most people use a $1,000 deductible, but it’s best to consider how much you’ll be comfortable paying out of pocket.
If you’re looking for a homeowners insurance company that will help you to cover the safety of your home in Bedford, NY, Guerra Insurance is here to help you receive the coverage you’re looking for. Contact us at 914-600-1990, where we can help you choose the right plan for your home insurance coverage today!