This kind of insurance is commonly referred to as property insurance or home insurance because it gives you coverage for your home and gives you compensation in case of a loss. Home insurance helps you in case your home suffers theft of is partially destroyed by causes covered under the policy. It can even go as far as pay for the rebuilding of your home if it gets destroyed.
A home insurance policy allows you to set the limits to the amount of your claims or the amount of liability claims made under your name. You can talk to an agent about how much coverage you need to make sure you and your home stays protected.
What Does It Cover?
A home insurance policy may cover different types of risks that are involved in being a homeowner to prevent you from spending your own money. Here are some examples.
Damage to Property: This includes theft or damage to your home or and/or structures within the premises. You are eligible to receive this type of compensation depending on your policy if your home is damaged because of a covered threat. This coverage includes hurricanes or heavy winds; however, floods or earthquakes usually require a separate policy. You have to review your policy for more information.
Loss of Personal Property: Damage of personal can also be covered depending on the limits of your policy. Compensation is also given in the event of theft and other covered events under your policy. Just like damage to property, this also excludes damage due to flooding and earthquakes. You also need to customize your limits on your policy if you want more compensation.
Liability: If someone who lives in the insured home causes injury, damage to property or accident, your home insurance can cover you. The coverage can extend to property repair or medical bills depending on the situation. It’s good to take note that there are some exclusions so you need to fully review the liability coverage on your policy.
How Does It Work?
Think of a homeowners insurance policy as a safety net that you buy for your home. In the event of damages, it has your back and can save you from spending money out of your pocket for repairs. You can also use it to make a claim if you lose your house under covered circumstances. Remember, home repairs can cause thousands of dollars with the materials and labor costs. This is why home insurance policies is important to consider for homeowners.
Choosing the best insurance company is essential to get the amount of protection that you deserve. At Western Pacific, our mission is to ensure that we protect our clients and offer them policies that they can afford. Learn more about our products and services by calling our agency at (702) 932-3105 You can also request for a free quote by CLICKING HERE.