You have made a substantial investment in your home. The best way to ensure your investment is protected is to obtain a home insurance policy. While home insurance is not required under state law in New York, it may be required by your lender if you have a mortgage on your home. The main part of home insurance is the coverage options but what are they? The home insurance agents at The Budde Agency Inc. in Amityville, NY understand the importance of home insurance and the many cover options available.
Home Insurance Coverage Options
Dwelling coverage is the part of your home insurance policy that covers the house you purchased. This type of coverage will repair or replace your home if it is damaged or destroyed by a fire, vandalism, or a natural disaster, such as a hurricane or tornado.
Other property insurance will cover other structures on your property, such as a garage or shed. For instance, if your garage catches on fire and is a total loss, this part of your insurance policy will help to replace it.
Personal property coverage will ensure that if there is a fire, vandalism, or natural disaster, your personal property is replaced. This will items, such as your clothing, furniture, and appliances. This part of the policy will also cover these types of items if your home is robbed or theft occurs.
Liability coverage is important to have if someone is injured while visiting you at your home. For example, if a person slips and falls on your property and is injured, this part of your policy will help pay for the medical bills and possibly their lost wages if they have to be off work while they recuperate.
Additional living expenses coverage will help you pay for another place to live while your home is being repaired or replaced due to a fire or some other disaster that leaves your home in an uninhabitable state.
Your insurance agent can help you determine the amount and types of coverage you need for your home insurance policy. The agents at The Budde Agency Inc. in Amityville, NY are ready to help you create your home insurance policy. Call for an appointment today!