#Homeowner #insurance protects the owners, the tenants, and everyone else around them! However, it is important to know what you are covered for and ask yourself; “Are you paying more for less coverage?”
How much insurance do I need?
First and foremost, you will want enough #liability #coverage to protect yourself from lawsuits resulting from possible negligence. The next step is asking yourself, how much can you financially afford to lose when disaster strikes?
Asset protection helps protect your belongings when peril, a condition that can cause a loss, occurs; and the more #coverage you have generally means you pay less out of your pocket when disaster strikes.
Next, your lender may require you to insure the house with specific #coverage throughout the mortgage. Though, you are not required to purchase #insurance from the insurer recommended by your lender. Lenders may require buyers to have property damage, personal #liability, additional living expenses, and even medical payments.
What Affects Home Insurance Prices?
The amount and type of your #insurance you might pay can be determined by the age and type of construction of the home.
Typically, newer, brick homes cost less to insure than older, frame houses. The area that you live in also affects the amount of insurance you pay. For example, the number of fire hydrants and fire departments available can impact the amount of #insurance you need.
Lastly, you can determine whether you want to have a higher or lower deductible with your insurance policy. Generally, higher deductibles mean lower premiums, but you pay more out of pocket when peril occurs.
To know more information about #homeowner #insurance and the right #coverage for you, contact us at 417-753-7454 to talk with one of our agents today at Rogersville Insurance Agency.
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