Home Insurance – Homeowner Insurance – Home Owners Insurance
Obtaining Home Insurance, or Homeowner Insurance in Long Island and New York, New Jersey and Pennsylvania is becoming increasingly more difficult. Especially for coastal properties. For many Home Insurance is our most valuable protection. The time to think about the unthinkable disaster is before it happens to you. If your home were damaged or destroyed, insurance can help you repair or rebuild your home and replace damaged possessions. Your bank or mortgage company may refer to this insurance coverage as home insurance, homeowner insurance, hazard insurance, fire insurance or even HOI, Home Owner Insurance.
The main purpose of Homeowners Insurance or Fire Insurance is to protect you against losses you cannot afford. Few people have the financial resources to rebuild their homes. In addition to protecting your home and possessions, homeowners insurance also provides liability coverage to protect you from financial ruin if someone is injured on your property and sues for damages.
A homeowners insurance policy consists of coverage for your dwelling and your personal property. It also includes liability insurance which pays for injuries to other people or damages to their property accidentally caused by you, your family or your pets. You also can buy several types of additional insurance for property that is not listed in your homeowners policy or for perils not covered — such as flood — for which you need a separate policy. You do this by either buying a separate policy or by adding an endorsement or rider to your policy.
Keep in mind that in the event of a covered loss, your Home Insurance policy will provide coverage for the following:
Dwelling Insurance Coverage
Also known as Building Insurance. This coverage will cover not only your House as a building, but also your major kitchen appliances, your flooring, your built-ins, your bathroom upgrades, your light fixtures, molding, trim, and woodwork.
Personal Property or Contents Coverage
Will cover your belongings in the unit, these include furniture, electronic devices, clothing, books, kitchen items & supplies, bedding, decorations and small appliances. Basically, if you were to move, the items that would come with you with some exceptions.
Liability Insurance Coverage
Will cover you against a suit brought against you in the event hat someone gets injured at your home or if someone in your building sustains damage to their to their property as a result of a covered loss.
Loss of Use Coverage
Provides alternate living arrangements if you are displaced form your home as a result of a covered loss. Keep in mind that the average cost of a annual basic Home Insurance Policy is about the same as the cost of a one or two week stay in a New York hotel. A basic policy may provide enough coverage for at least 25 times that much.
Home Insurance goes by several names, they may be:
Home Insurance, House Insurance, Home Owners Insurance, Homeowners Insurance, Hazard Insurance, Fire Insurance
Let us assist you with your Home Insurance Policy Coverage. Click here for a Free Home Insurance Quote .