Do You Have the Right Home Insurance?
Typically, your home is the most important purchase you will make in your lifetime. That is one of the many reasons why it should be adequately protected and why you should understand the type of coverages that will fit all of your home’s needs. In many cases, a homeowner’s policy is initiated as just another step in securing a mortgage, but often, little thought is put into what is actually being covered. If you are in the process of purchasing a home, or if you have had homeowners insurance for a while, it is always a good idea to review the coverages you currently have, and what else is available. Home tragedies such as fires happen more than we would like to imagine, but the tragedy worsens when the persons effected are not properly covered by their insurance. Other common issues that need proper coverage include theft, ice damming, frozen pipes, wind, hail, etc. Here at American Advantage – Petersen Group we offer coverages that are among the strongest and most solid you can purchase.
Homeowner’s insurance will include coverage on your home and the contents within. It also includes liability coverage in the case someone is injured on your property. Securing replacement coverage is also extremely important. This means you are able to rebuild your home if something were to happen and it also would replace your personal belongings such as your furniture, clothing, appliances, etc. in the event of a loss. The majority of our policies will rebuild your home, like quality with like quality, and replace your belongings with no depreciation factored in. Optional coverages that are available include water/sewer backup in the basement, jewelry, collectibles, identity theft and many more. You never want to be in a situation where you over-insure minor risks while underinsuring against major risk. That is where we can step in and advise. Raising your deductible is one of the ways to help keep your insurance costs reasonable while providing proper catastrophic coverage.
Do I Need Home Insurance?
If you have taken a mortgage out on a home, then yes, you must insure the property for at least the value of the loan. In addition, your home is your largest investment so it should be properly protected. These homes should be insured:
- Private residences
- Vacation homes
- Manufactured homes
- Mobile homes on lots
- Rented apartments – even if you rent you need protection
Homeowners Insurance Coverage’s
Here are the basic coverage’s on a homeowners policy:
- Dwelling – This is your actual house. Usually this is on a replacement value basis, meaning the insurance company will build you the same home.
- Other Structures – This is any detached garage, shed, fence, etc.
- Personal Property – This is all your contents inside of the home. Clothing, furniture, electronics, etc.
- Sinkhole coverage
- Loss of Use – This pays for extra expenses that you would occur for not having your home to live in after a claim.
- Deductible – This is the portion that you pay after a claim. $1,000 is usually standard on home policies.
The Independent Insurance Agent Advantage
When you need to insure your home here in New Berlin or anywhere else, consider seeing an independent insurance agent from American Advantage – Petersen Group. We have been helping people just like you find the proper insurance since 1974. We make sure your financial investment is protected against any and all possible hazards. Your independent agent works for you and not an insurance company. We have access to top rated insurance companies like Progressive, Foremost, Safeco, The Hartford, and many more.
There’s no reason to take chances with your homeowners insurance, let an independent agent from the Petersen Group handle all of your insurance needs. Your agent becomes your insurance advocate and helps you find the very best deals and rates.
For more information, call American Advantage – Petersen Group toll free at 888-302-4288.
To receive a free, no obligation quote on your homeowners insurance, fill out the quote form and we’ll get back to you.