A home is one of the most important purchases a person can make. It is important to protect that purchase from various types of costly damage and threats that can occur throughout their occupancy. Homeowners insurance is a type of policy that can reimburse the costs of many types of damage and threats that a home can face. However, there are different types of coverage that can protect in different situations. A Homeowners Insurance Agency in Monroe MI can help with this.
Basic coverage
All homeowners should have at least a basic coverage to protect their home from various types of damage. A basic policy will cover damages from fire, smoke, or explosions. They also cover damages caused by hail, windstorm, and lightning. These policies can also cover theft and vandalism. Personal belongings, however, may be covered, but must generally be specified when the policy is purchased. These policies do not cover a lot of the risks associated with home ownership, but can be less costly. Broad form coverageMost insurance companies do not accept basic coverage for homes. They require a little more coverage often found in the more common broad form policy. This type of insurance can include damage from falling objects, as well as damage from the weight of ice, snow, or sleet. This coverage also protects heating and cooling systems in the home, as well as accidental water, steam, or electrical damage. Floods and earthquakesMost homeowners insurance policies do not cover floods and earthquakes. However, homes that are in areas that are prone to such incidents may be required to purchase additional coverage. There are specific insurance policies that are often backed by the federal government to protect in these high risk areas. A Homeowners Insurance Agency in Monroe MI can determine if these types of coverage are necessary.
Owning a home is a great responsibility that comes with many risks and problems that can threaten its value and ability to provide a safe living environment. Insurance is a great way to ensure the home is protected in many types of problems. Contact us for more information about the right insurance policy, as well as other types of insurance to help throughout life.
