When it comes to homeowners insurance, there’s a lot to know. From all those commercials on TV about insurance carriers who try to trick people out of their claims, to the basic confusion of the industry, it can be tough to get a clear answer about what you’re covered for and what you’re not. In the interest of demystifying homeowners insurance, we put together this list of the five most common home insurance concerns we often hear, and why you really don’t need to worry. When it comes down to it, homeowners insurance usually offers people much more coverage than they expect, so there are some things you can just stop worrying about right now:
Many homeowners are concerned about visitors injuring themselves on their property and getting sued. It’s true that an injury that occurs as a direct result of an issue on your property, like a crack in the cement, can mean you’re liable. That said, most homeowners insurance policies include personal liability coverage already. In the event that someone was injured on your property, whether it’s one of your kids’ friends or someone doing work on your home, you’ll be protected. Still it’s important to make sure your homeowners policy has personal liability coverage and evaluate if you want to increase it from the base amount.
Severe weather can be devastating. Wind and hail can wreak havoc on roofs and siding, not to mention the branches and trees that go flying during inclement weather. Storm damage is actually one of the most common claims by homeowners across the country. If you’re concerned about coverage in the event of a storm, know that homeowners insurance policies do cover normal wind and weather damages.
Though they’re unlikely to cover for something odd, like an earthquake in West Michigan, they will cover more frequently occurring weather situations, like thunderstorms and straight winds. So long as you have photos of your home in its current condition that your insurance agent will be able to compare to the damaged parts, it will be easy to file a claim for necessary damages after a storm hits.
Though fire damage isn’t a claim that’s made by homeowners as often as storm or weather damage, it can be one of the most expensive claims that insurance companies will pay out. Many people worry that their homes are not covered in the event of a fire, but actually it comes fairly standard in most home insurance policies. Since fires are so devastating, however, it’s important that you make sure you have enough insurance coverage to rebuild and recuperate all of your losses in the event of a fire.
Floods are a concern that homeowners often have, especially because many know that floods aren’t covered in the majority of standard homeowners insurance policies. It’s good to know that your homeowner’s insurance will protect you from a flood that’s plumbing related—say your sump-pump overflows into your home, or a water pipe breaks—those types of plumbing malfunctions would be covered by most homeowners insurance policies. It mainly floods due to weather, and that does not qualify for standard coverage, but that doesn’t mean you have to worry. If you’re concerned about floods, you always have the option to take out an add-on or floater policy that will protect your home in the event of a flood. You’ll just need to talk to your insurance agent about what options are best for your home insurance policy.
Another common claim made for home insurance is vandalism. Whether the neighborhood kids are routinely egging houses, smashing mailboxes, or breaking front porch lights, many homeowners are worried they’re not covered by these smaller acts of malice. In fact, your homeowners insurance will cover these damages, as well as any theft, whether on the outside of your home, or from a break-in. A certain amount of coverage is afforded to your personal property, based on the homeowners insurance policy you have. You can opt to increase that coverage if you feel your possessions are worth more than the coverage you’re paying for, but don’t worry that you’re not covered in the event of vandalism or theft.
If you’ve still got concerns about your existing insurance policy, give our office a call. We’d be happy to review your policy and work to find you a policy that satisfies those concerns. Contact our office at 616-949-9000 or request a free quote online today!