What is Homeowners Insurance?
Homeowners insurance provides financial protection against disasters, great and small, to your most valuable investment, your home. A standard policy insures the home structure itself and the things you keep in it.Homeowners insurance today is packaged with many different coverages to offer comprehensive coverage. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage or injuries caused by household pets. Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.
Why Do I Need Homeowners Insurance?
Homeowners insurance is not legally required, however, our home is usually our largest asset and the basis for our family. Like other forms of insurance it is all about protecting you and your family from potential financial disaster if an unexpected disaster were to strike your home.
- If your home was destroyed by fire or damaged by a natural disaster, you'd need money to repair or replace it.
- If a guest in your home is injured, liability protection and medical coverage help pay expenses.
- If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
- If you are still paying for your home, your lender will require insurance to protect their interest in the property.
Other Types of Insurance to Protect Your Property:
Even if don’t own a home you can still get coverage to protect your personal property.
- Condominium Insurance: If you own a Condominium, you do not need to cover the outside structure of the home (this is covered by your homeowners association), but you still need to cover everything inside the walls. This includes flooring, wallcovering, counters, cabinets, etc… as well as all your “stuff”. You also still need liability protection for guests injured in your condo.
- Renters Insurance: If you are renting an apartment condo or house, you will also need insurance to cover your “stuff” as well as liability protection in case a guest is injured in your rented property.
How Do I Get Homeowners Insurance?
There are hundreds of insurance companies offering homeowners insurance in California. Which one is right for you? The best way is to contact an independent insurance agent who can search many different insurance companies to find the one that is the best fit for your needs based on coverage needs, price and availability.To start your search for homeowners insurance, contact us at Rafter Insurance Agency today so we can assist you in matching your homeowners insurance needs with the companies we represent.