Whether you are a first-time homebuyer or you have owned a home for 50 years, if you have never filed a claim with your insurance company, you are not alone. In the last 15 years, only 11% of homeowners have filed a claim. You have home insurance either because you have a mortgage or because you know you should, but you’ve never read your policy to understand exactly what protection you’re paying for. At Insurance Associates of America in Wisconsin and Florida, we understand that as independent insurance agents, we work for our customers. We want to ensure that you know exactly what types of coverage your home insurance policy provides.
Property protection
Property protection is the coverage that covers the physical structure of your home. It also covers any attached or detached structures. This includes a porch, a deck, a garage, a shed, and even a swimming pool. It covers these buildings against a range of hazards, including fire and theft.
Content coverage
You own a lot of stuff. That becomes all too evident when something happens to it. You need to decide how you want to cover your personal property. You can cover it at today’s depreciated value or at the price it would cost to replace it today.
Liability coverage
Being sued is not something that you want to think about, but the reality is, you should. Most people will be involved in a legal action sometime in their lifetime. Having the right insurance makes it less scary.
Loss of use
Having the money to pay for a place to stay when your home is damaged is vital to your peace of mind.
Contact Insurance Associates of America in Wisconsin or Florida when you’re ready to review your home insurance or discuss your needs.