In March of 2020 many of our neighbors suffered a terrible loss due to the tornadoes in Nashville. In the midst of disaster, do you know how much your possessions are worth? Though many are priceless, it is so important that you have a monetary list of your things, especially the big ones to save you time and hassle, in the event of emergency.
Homeowners insurance is a multitude of insurance coverages that homeowners purchase to assist in paying for or replacing items that are damaged. The damages range from severe weather to theft and fire. Its important to note that not all homeowner’s insurances cover the same thing. Many do not cover flooding and earthquakes. When purchasing your homeowner’s insurance, you should know the threat of flooding, earthquakes, and other natural disasters in your city or state to help you pick the best coverage for your home.
Attempting to create a list of your personal belongings after they have been damaged or stolen can be nearly impossible, for some. It is good to take pictures and/or videos of your most valued and larger items and have them stored somewhere safely to assist you in easily creating a list. High-value items, especially, should be appraised when you are choosing to get homeowner’s insurance, in an effort to know an exact price. Not only does homeowners insurance cover your personal property, but it can also assist in repairing your home- given that it is damaged, as well.
When purchasing homeowner’s insurance, prices will vary. Much like other insurance, you pay for the quality you would like. Many companies offer a basis, which typically include X amount of coverage on personal property and structural coverage, for your home. From there you can add on to your coverage. For example, if you have a creek in your backyard then you will consider flood insurance for if the creek rises and damages any part of your home. When purchasing the insurance, you should get different quotes with a list of what each one will cover to best suit your home and personal possessions. Though some may be costly, if they are going to cover the majority or all your property then it would be beneficial to budget them into your monthly cost. Keep in mind, each coverage policy is subject to a limit (the max amount paid to cover your loss).
Homeowner’s insurances have deductibles, like health insurance, that are required to be paid in order for your coverage to be in full effect. In some cases, that is not a necessarily true, so it is important to ask those questions to your insurance agent. If you are looking for homeowner’s insurance, it is important to contact a certified agent who can get the best coverage for you. Be sure your deductible is affordable for you. Do an insurance check-up with your agent especially with rising prices – The policy you got 10 years ago may be inadequate at this time.
If you are looking to become a homeowner, the Crown Realty Experts team would love to be of guidance to you. We understand how important your properties and home are to you & we would love the opportunity to assist you with walking through this maze.