Most mortgage lenders require the owner to carry homeowners insurance. It is your protection from physical and financial loss in an accident. A homeowners insurance policy is taken out by the owner(s) of the home. The amount of homes owner’insurance coverage you choose with your agent should reflect the current or future cost to replace or repair the home in case of a covered loss. When choosing homeowner’s coverage, you’ll also want to consider Other Structures, (fences, outbuildings, sheds, driveways etc.) Personal Property, Loss of Use, and Liability. Key coverage points:
- Repairs or Replaces your home due to a covered loss.
- Replaces your belongings inside that is not attached or built in, such as furniture, appliances, clothing, jewelry, and dishes.
- Helps you if you need to stay somewhere else while your home is being repaired.
- Protects your assets if you are found liable. Examples could include a slip and fall or a dog bite.
Most homeowners’ policies have many additions or endorsements that can be added to enhance your insurance policy to fit your needs. At EPB&B, our Account Managers are proficient in each company’s insurance policy and are here to help you find the right coverage.
DISCLAIMER
Some policies are different from what’s described here. Be sure to read and understand your individual policy or contact us if you have questions.