Coverage Included In Homeowner's Insurance

by Administrator 27. February 2018 07:00

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Why Is Home Insurance Important

by Administrator 21. February 2018 08:39

A type of property insurance, home insurance covers your house from accidents, damages and theft. They are usually bought for a stipulated tenure at the end of which the tenure has to be renewed.  This could be anywhere from 1 year to 5 years. Considering that a house is one of the most treasured and costliest asset for many, getting a home insurance is crucial. Following are some reasons for which insuring a home is important:

• Protection From Liabilities

A home insurance policy will protect you from liabilities resulting from personal injuries, damage to the property of guests or third parties who might have been in the house. This type of insurance also covers you and your family members from losses and damages.

• Temporary Living Expenses

If the insured house requires renovation or reconstruction due to an unforeseen damage to the structure, you might have to move out to another house for some time. Certain home insurance policies will cover any expenses that you incur while doing so. Your expenses in the form of rent you pay will be covered by the insurance company until the former house is made livable again.

• Coverage Against Natural And Man-Made Calamities

Home insurance policies provide coverage against losses caused by natural calamities e.g. floods, storms, earthquakes etc. They also cover losses due to man-made acts such as theft, vandalism, riots etc. In case of such events, the amount of compensation from an insurance company helps you recover from the loss and even rebuild your house.

• Compensation For Loss Or Damage To Valuable Assets And Precious Belongings
If you have valuable and expensive belongings such as important documents, precious jewelry, furniture, clothing etc., a home insurance also covers losses or damages against them. The only pre-condition is that at the time of damage, the articles should have been in the insured house. Items like artwork, antiques and furs might require a rider on the policy to be included in the coverage.

• Bank Preference
Most of the banks prefer those with home insurance for sanctioning loans. For some banks, it is a major eligibility criterion. So if you want to figure high on the priority list of banks for a loan, getting your home insured is a sure way to do so.

• Mortgage Contracts
If you are a home owner with a mortgage on your home, it is better to take a home insurance policy. This is because the lender has a monetary stake in the home. Getting the home insured protects you and the lender form any losses and liabilities.

For affordable home insurance in Killeen, TX, contact Shawn Camp Insurance Agency, Inc. We are located at 2705 E. Stan Schlueter Loop, Suite 101, Killeen, Texas 76542. You can also call us at (254) 526 – 0535.

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Why Do You Need Homeowners Insurance?

by Administrator 20. December 2017 11:25

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