You need to protect what’s important to you. Whether you own or rent your home, you need to cover yourself from a wide range of threats including fire, theft, flood and even hurricanes. Homeowners insurance not only helps you replace items and repair your home, it can also protect you from suffering a substantial financial loss should someone accidently become injured while on your property.
Most homeowners policies are specifically designed to cover items like:
- Your home’s structure, should it be partially or completely destroyed by an act of nature except for floods. Flood insurance is a separate policy.
- Outbuildings on your property, such as sheds or detached garages, should they be damaged.
- Personal belongings like televisions, clothing and other easily replaceable items whether they are destroyed in a storm or stolen in a burglary.
- Living expenses during your home’s repair, if it’s deemed unlivable after an insured disaster.
You also need to be protected against potential injuries to those visiting your property or accidental damage to someone else’s property caused by you or something you own (like your tree falling on a neighbor’s car). Adding a liability component to your homeowners policy is a smart move. Ask your Burke, Bogart and Brownell insurance consultant about Homeowners insurance, flood, and liability policies.