Home Insurance

Benefits of Carrying Home Insurance

If you are paying a mortgage, you are likely required to carry home insurance. Mortgage lenders want to know that their investment is covered if something goes wrong, such as if the house burns down.

For those who own their home completely, though, it is a personal choice- not a requirement. However, every homeowner should seriously consider carrying home insurance as it provides a lot of benefits.

Home policies vary, but most of them provide protection for common perils, such as:

• Fire and smoke

• Theft

• Windstorm and hail

• Vandalism

• Falling objects, such as trees

• Explosions

• And more

A home insurance policy does cover the actual dwelling if it is damaged due to a covered peril, but it goes beyond that. It also provides coverage for the following:

Other Structures

Other structures include detached garages, sheds, and similar structures on your property.

Personal Liability

If you are sued for injuries or damage to someone else’s property- even when you are away from home- homeowners provide liability protection.

Personal Property

The contents inside of the home, such as your furniture, clothing, electronics, and more, also have coverage under a home policy. This is typically a percentage of the total dwelling coverage and not always enough, but you can increase your coverage.

Additional Living Expenses

Additional living expenses, or ALE, is designed to cover expenses incurred if your home becomes unlivable due to a covered event. For instance, if your house burned down, ALE would cover the hotel stay, money spent on food, and other expenses from having to live elsewhere. The amount of coverage depends on your particular policy.

There are also several endorsements you can add to your policy to customize your coverage. For instance, you can add endorsements for high-value jewelry and art, musical instruments, and other items that have a higher worth than the personal property coverage.

You can also add coverage for equipment breakdown, watercraft, and more. No matter what your needs, Geiger Insurance can help you find coverage. Just give us a call today for a no obligation quote. For those not in our service area, just search for “home insurance near me” for local insurance options.