Homeowners Advantage
Get the AmeriAgency Homeowners Advantage let us quote your auto insurance, home insurance and business insurance. Save up to 27%, call now, 888-851-5572.
Are you in the process of purchasing homeowners insurance? With so many policy options available, it can be overwhelming to determine which one is the right fit for your needs. That’s why we’re here to help. In this article, we’ll guide you through the process of choosing the right homeowners insurance policy. Whether you’re a first-time homebuyer or a long-time homeowner looking for a change, it’s important to consider various factors when selecting a policy. Your specific needs and budget should be top of mind as you explore different options. During your research, be sure to pay attention to the coverage types offered, such as dwelling coverage, personal property coverage, and liability coverage. These play a crucial role in protecting your investment and ensuring you are adequately covered in case of an unexpected event. Additionally, consider factors like deductibles, exclusions, and endorsements. These details can greatly impact the overall cost and coverage of your policy. Selecting the right homeowners insurance policy may seem overwhelming, but with the right knowledge and guidance, you can make an informed decision. So, let’s dive in and explore how to select the perfect policy to protect your home and belongings.
What does Homeowners Insurance cover?
Homeowners insurance may cover losses to covered property caused by:*
- Weather: Storms, fire, wind, hail, lightning, freezing of a plumbing system, weight of ice, snow, or sleet
- Non-weather: Theft, vandalism, riots, aircraft, and vehicles
- Accidental Direct Physical Loss: Water from plumbing, tearing/bulging of heating or cooling systems, artificially generated electrical current
* Please refer to your actual policy for a complete list of covered property and covered losses.
What’s not covered by Homeowners Insurance?
Homeowners insurance may not cover:*
- If the insured intentionally causes harm to property or person
- Business pursuits or professional services. Learn more about business owners policies.
- Ownership, operation, or maintenance of aircraft, motor vehicles and some watercraft
* Please refer to your actual policy for a complete list of losses not insured and policy exclusions.
Get the AmeriAgency Homeowners Advantage let us quote your auto insurance, home insurance and business insurance. Save up to 27%, call now, 888-851-5572.
Make Sure that Your Home is Insured for at Least 100% of its Estimated Replacement Cost
To determine your amount of homeowners insurance coverage:
- Get an estimate of the replacement cost of your home.
- Select the home insurance coverage amount that best fits your needs.
We recommend that you purchase an amount of coverage at least equal to the estimated replacement cost. But the choice is yours. Determining your home’s estimated replacement cost is important because this will ultimately determine which policy options are available to you. Since it is impossible to predict today what the exact cost will be to replace your home in the future, it’s essential to have enough coverage to account for unforeseen circumstances.
Market Value vs. Replacement Cost
Market value is the amount a buyer would pay for a home, including the land, regardless of how much it would cost to rebuild the home. Replacement cost for this purpose is the rebuilding cost necessary to replace the entire home.
Replacement cost IS NOT:
- The market value of the home.
- The home’s purchase price or the cost of the land.
- The outstanding amount of any mortgage loan.