Home insurance considerations and intricacies
Your home is probably your single biggest investment and something you must protect. Your mortgage agreement will also require that you carry adequate home insurance. Jones & Maulding can help you with the right homeowner’s policy in Agoura Hills CA, Calabasas, Camarillo CA, Santa Barbara, Santa Monica or Thousand Oaks.
As with any insurance it is always important to know what is covered and what is not. You need to know what risks are covered and what the amounts of your coverages are. You need to know what is excluded and what the limits are.
Most home insurance policies will cover traditional risks such as fire, theft, vandalism, windstorm, hail, domestic accidents and liabilities. Major events such as floods and earthquakes are typically excluded. Floods are of course a major risk and areas and flash floods can occur anywhere. If you don’t have flood insurance you might be taking a very big risk.
Home insurance will typically cover damage to your building and structures as well as damage to the contents inside your home. Again, it is important to understand that your coverage is linked to certain events, such as for example a fire. If however the damage is caused by a flood, storm surge or earthquake, it won’t be covered. You may need separate insurance for certain events such as floods and storm surges. There may be other events you might need to consider such as terrorism, civil unrest, landslides, sinkholes and so on. Are your covered for such events?
You also need to know whether you are covered for the replacement value of your home and contents. As you can see, there is a lot you need to know and be aware of when it comes to home insurance. That is why it makes sense to get help from the professionals in home and property insurance.