Home Insurance

money_homesHomeowners insurance protects the single largest investment most of us will ever make. Even if you’re a renter, or a condo owner, homeowners insurance protects you against potentially crushing personal liability expenses. No one plans on accidents but they do happen often with costly consequences.

Considering what it protects, your homeowners insurance policy is too important to choose on the basis of price alone. You aren’t buying a premium. You are buying insurance. Take a closer look. Does your best quote significantly understate the value of your home and its contents? Will that policy pay to buy new furniture and electronics or just refund the depreciated value of what you lost? Did you check the deductibles? How high are they?

Take another look at your quote or your current homeowners policy. Do you understand the A-B-Cs? Coverage A, for example, represents the insured value of your dwelling. A good agent will be extra careful to get this number right because Coverage A represents the cost of rebuilding your home after its accidental destruction. Coverage A also helps set the value of “Coverage C,” which represents the total insured value of your personal property, such as furniture and home electronics.

No one buys insurance knowing it won’t cover their losses. Unfortunately, plenty of people buy insurance without knowing. Don’t be one of them. If you’re in the market for a homeowners policy, or just want a second opinion of your current policy, please call Beacon Insurance Partners at 813-343-0076.

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