Whether you’re shopping for a home insurance policy for a new home or just a more competitive rate on your Massachusetts, Connecticut, or New Jersey home insurance, the friendly and knowledgable agents at Encharter Insurance can help. We work with over thirty different carriers to find you the best coverage for your home sweet home. While most states do not require you to carry homeowners insurance, if you have a mortgage, you will likely be required to have homeowners insurance to protect your home.
What Does Home Insurance Cover?
There are the basic coverages with homeowner’s insurance and additional coverages, like flood coverage if you live on a flood plain, for instance. Home insurance costs will differ depending on your specific needs or geographical location, and it can cover anything from damage to your roof from a thunderstorm to foundation issues due to extreme changes in temperature.
To help you further understand what is covered or partially covered on a standard Home policy here is a downloaded tip sheet: Residential Coverage Tip Form.
Homeowners insurance coverage typically includes:
In addition to the above, many homeowners consider the following added-value coverage as well:
Am I Required to Have Homeowners Insurance?
Am I Required to Have Homeowners Insurance?
Simply put, yes and no. There is no state requirement for homeowner’s insurance as there is for auto insurance. If you’re financing your home, however, mortgage lenders will require that you purchase a home insurance policy to protect their investment, as well as yours.
If your home is paid off, on the other hand, you are not required to have home insurance. However, no insurance means that you are financially responsible for repairing any damage to your home and other structures or recovering losses of personal property. Even if you’re excellent at saving money for a rainy day, unforeseen expenses can still be devastating without homeowner’s insurance coverage.
Benefits of Homeowners Insurance
In summary, the best home insurance policy offers protection on many levels, including the following benefits.
A home insurance policy protects your pocketbook against hazards, such as damage due to wind and fire, vandalism, and theft. A little money each month for home insurance goes a long way, in other words.
Personal Belongings Protection
Personal belongings such as furniture, appliances, and electronics are covered by a typical home insurance policy, and the best news is that your belongings are protected wherever they are, including your car, your child’s school, or in a storage space.
This coverage includes protection against lawsuits filed against you for injury on your property, from a delivery driver slipping on your walkway to a neighbor’s child slipping near your pool.
Another thing to consider when getting a homeowner’s insurance quote is coverage for temporary living expenses. When you’re unable to stay in your home due to damage, a homeowner’s policy can offer additional living expense coverage, including hotel costs, food costs, dry cleaning, and storage costs.
Peace of Mind
Possibly the most important benefit of all: Having insurance for your home and belongings helps you sleep better at night. Knowing there is a safety net if disaster strikes can boost your financial confidence and improve your quality of life significantly.
Making your home and belongings resistant to damage and loss are impossible but being prepared for unfortunate circumstances with a homeowner’s insurance policy can put your mind at ease.
If you’ve decided that home insurance is right for you and are ready to search for the best home insurance companies, compare home insurance quotes carefully. Get specifics concerning what is covered in each home insurance estimate. When getting a home insurance quote online, don’t hesitate to call for a representative to clarify any questions you have about specific coverages.
All coverages are subject to a deductible, which is the amount of loss paid by the policyholder.
If you want to update or add additional coverage to your home insurance policy, call one of our knowledgeable agents today. Find out about the discounts available to you and learn more about the other types of insurance that Encharter offers, such as auto and business insurance.
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