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Homeowners Insurance
What is Homeowners Insurance?
Homeowners Insurance is something all homeowners or buyers must think about, as it is usually a requirement for one’s mortgage. Home insurance protects the insured from losses incurred from property damage – to the building or belongings inside it – and, in most cases, from liability if someone is injured due to the homeowner’s negligence, on or off the property. Many policies also cover living expenses in the case of a natural disaster.
How Does it Work?
When purchasing homeowner’s insurance, it is important to consider the factors which will affect the premium: for example, the square footage of the home, building costs in the area, local crime rates and emergency services, the condition of the home, any high-risk features such as a pool, as well as the purchaser’s credit and claim history.
In the event that a claim must be filed, the insurance may be paid out in one of two ways – replacement cost or actual cash value. Replacement cost means the amount of money required to rebuild or replace any losses with comparable materials. Actual cash value pays the market value of the lost item(s) minus any depreciation.
Types of Coverages
Smart home insurance is a smart choice for homeowners and their smart plan homes. It provides coverage for your building, contents, personal liability and property damage. Every policy is tailored to the individual homeowners needs.
With smart home insurance, you can have several options available. Coverages available are sewer and drain, fence replacement, and identity fraud protection. There is also guaranteed and extended replacement options. The purchase of a home is a major investment. We are here to help you protect that investment.
There are discounts and rewards with our smart plan home. These include multiple policy discounts, a declining deductible every year and discounts for not having claims. Policies have custom tailored packages to meet every homeowners needs.
After reviewing what’s included in the policy, it should be easy for homeowners to see why Smart Home Insurance might make sense.
