What is Home Insurance?

Homeowners insurance is protection for your home that helps cover repairs or replacements to your home’s structure, belongings and even covers you if you’re liable for injury to another person or damage to their property.

 

Your standard home insurance policy includes essential coverages that offer protection from a specific set of common damages. You have the option to customize your policy and purchase additional coverages as they fit your unique needs.

• Your homeowner’s policy helps cover property damage from things like fire, lighting, windstorms, hail, explosions, smoke, vandalism and theft.

• If you can’t live in your home due to a covered loss, we’ll help cover temporary housing expenses while it’s being repaired.

• Personal property coverage protects the possessions inside your home — iPads, laptops, TVs, jewelry, artwork, collectibles, tools, firearms, etc. However, each policy has a limit on this coverage. Talk to your agent about adding scheduled property coverage and replacement cost value coverage so your items will be replaced at their current cost — it’s a great idea if you have valuable jewelry or collectibles.

• You’ll also have liability protection, so if someone is accidentally hurt on your property and you’re legally liable, your liability coverage will help cover costs of medical expenses or resulting legal fees.

 

How much Home insurance do I need?

The amount of home insurance coverage you need depends on a number of factors. But most importantly, you should have enough protection to cover the costs of rebuilding your home and replacing all of your possessions in the event of the unexpected. At Customized Insurance Brokers, we perform a detailed assessment of your home and make sure that we are covering you adequately.

 

I have a lender, is it difficult to change my insurance?

Absolutely not!  We are able to switch insurance carriers for you and have everything set up correctly with our new carrier and your mortgage holder. 

 

Does my home insurance cover flood?

Typically home insurance policies do not cover flood.  However, flood insurance can be written as a separate policy to protect your property.  Here at CIB, we can offer you comprehensive flood insurance.

 

Do I need Home insurance if my house is paid off?

If your house is solely owned by you, home insurance is not a required, but highly recommended.  It is important to carry insurance on your home because home insurance also protects you in the event of a lawsuit.  Most home insurance policies cover at least $100,000 in liability coverage.  Additionally, if your home was destroyed, you would be responsible for rebuilding or finding a new home.