Are you a first-time homebuyer trying to figure out what to do about homeowners insurance? You can demystify insurance by learning about everything it does and doesn’t cover. The following home insurance tips will help you navigate through the process of selecting the right plan.
Homeowners insurance in GA is designed to protect the investment you’ve made in your property against certain disasters called “perils.” A standard homeowners policy usually lists specific perils it covers, as well as exclusions, which are what it doesn’t cover. Most standard plans cover disaster basics, such as damage from fire, water, or burglary. Another dimension to a homeowners insurance policy is liability, which covers accidents that occur on the property.
Although homeowners insurance isn’t required by law, it’s usually required by lenders to secure a home loan. It’s also necessary to protect your investment instead of paying for expensive damage from disasters out of pocket.
Here are other important reasons you should buy homeowners insurance, regardless of whether you’re a first-time or seasoned home buyer:
If your home is damaged by a fire, flood or other covered disasters, the insurer pays to rebuild your home. The coverage in a standard plan usually pays to restore the home to its original state.
The value of your personal assets is protected by home insurance. If a belonging needs to be replaced after being damaged by a covered peril, home insurance will pay for it. Certain items such as jewelry may require additional insurance. That’s why it’s essential to talk with your insurance agent and make sure all your valuable possessions are covered.
When a guest to your home gets injured or becomes ill, your home insurance will pay for the hospital bills and loss of income. Another liability example is if your kid throws a ball and breaks a neighbor’s window, your home policy pays for it.
A disaster can force you to find a temporary shelter to live while your home is being restored. Your home insurance policy pays for a rental space or hotel room, as well as food and other living expenses.
The most important tip for finding the right home insurance policy that best suits your budget and needs is to shop around. Get multiple quotes, so you know what your options are. Since this work can be tedious for a first-time homebuyer, a faster way to learn your options is to work with our experienced agents at Liberum Insurance.
When you work with us, you can have peace of mind knowing that we will assess your coverage needs and custom-design a policy that aligns with your unique risk exposure. Contact our team to get started on your personalized home insurance in GA today!
Liberum Insurance is an Independent Agency. We have access to top A-rated carriers so we can provide great coverage at competitive rates. Our priority and fidelity are to our clients first.
