Types of Claims & Cause of Damage
What Is Homeowners Insurance?
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners’ responsibility.
Why Do You Need Homeowners Insurance?
It is really all about protecting yourself financially if something unexpected happens to your home or possessions. That’s important because chances are your home is likely one of your largest investments.
It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. Ask your agent about what is covered and be sure to read your policy so you know exactly what’s included and what is not.
What Is Renters Insurance?
Renters Insurance is a contract between you and an insurance company, where the insurer will help to pay the tab if you, a visitor or your personal possessions get damaged due to any number of causes.
Unlike homeowners’ insurance, which is required by most mortgage lenders, purchasing renters’ insurance is often up to you. In some cases, though, a landlord may require it.
Why Do You Need Renters Insurance?
While your landlord might have insurance, it only protects the building. Your belongings are not covered under those policies.
Add up the cost of everything you would want to replace if it were damaged or stolen. This could also serve as the basis for an inventory that will make filing a claim easier. For an inventory, also record model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in safe place away form your home.
We Simplify the Search
Fleming & Riles agents simplify the search process of finding just the right home or renters insurance for you. We’ll walk you through the policy options and work with you one-on-one to evaluate your risks and help you decide which plans will best fit your budget and unique needs. We’ll shop and compare policies from multiple insurance carriers until we find awesome protection at the best possible price.