Owning a home is such a major investment that it's worth protecting with insurance. When you think of how thousands of homes are destroyed every year by fire and floods, it's important to have the right coverage in place to avoid high repair costs that could drain your assets.
Here are five key benefits of having the right homeowners insurance in WA.
Home insurance covers your main dwelling, which is the structure inside which you live. This coverage can buy you a new roof if a tree falls on your existing one and damages it. It can also pay for broken windows and other damage to the structure. It's common for homeowners to insure 80-100 percent of their home's value.
Detached structures include your garage, fences, and sheds. These items are typically covered up to 10 percent of the main dwelling coverage limit. You can extend coverage with endorsements to obtain greater protection. If you have special accessories on your property that you're not sure count as detached structures, talk with an experienced insurance agent.
Your appliances, furniture, and personal belongings are covered in the event of a peril listed on your policy. Your valuables are not only protected against natural disasters but also against theft. Make an inventory of your belongings and share it with your insurer. Certain items in your home, like an expensive computer, antique, or jewelry, might need extra coverage.
The main reason to carry liability coverage is if a visitor to your property gets ill or suffers an injury from an accident. The medical bills can be overwhelming, but sufficient liability coverage will pay all of them. The liability portion of your policy can also pay for legal fees of various types of lawsuits if a neighbor tries to sue you. Every insurance agency designs its policies, so it's crucial to determine what types of lawsuits are covered.
A natural disaster can lead to loss of use of your home. However, the loss of use coverage will pay for shelter and living expenses until your home is repaired. Without this insurance, a severe storm can cause you to pay double for the disaster. Home insurance helps you sleep better at night, knowing that you'll have a financial safety net in place if you have to abandon your home temporarily.
Every homeowner needs a reputable home insurance agency they can depend on if a disaster ever strikes. You will reduce your financial risks by securing the right coverage that fits your personal needs. Contact us at Patsel Insurance Agency for more information on customized home insurance.