Your home may be exposed to more threat than your cookie-cutter protection policy allows.
Your home was not made in a quick decision, nor did you purchase all of your valuables on impulse. As a result, your homeowners insurance shouldn’t be the first policy that you seen online with the bare-bones of coverage that may or may not provide enough coverage.
Homeowners insurance is designed to protect your home and possessions. But what good is it if your home and contents exceed the standard coverage? If an accident or peril was to occur on your property, not only would you be held liable, but your finances could be put under severe strain.
Here are four considerations when selecting your customized homeowners insurance policy:
- Belongings – If you have high-value items, you may find that standard policies don’t fully protect these possessions. Your costly jewelry, artwork, musical equipment and collectibles will be left exposed and vulnerable to damage and theft if your policy doesn’t protect them. Be sure to receive protection by securing additional coverage or a rider for your valuables.
- Liability – What happens when a guest is injured in their home, finds the homeowner at fault, and sues them? An expensive lawsuit. Fortunately, your insurance can cover this, as well as medical payments.
- Dwelling – Custom-built luxury homes or a historic home are not like an ordinary home – and should, therefore, have the policy to match such high value. Some standard policies may not protect all of the fine-detail craftsmanship and structure of the home, but a customized policy does!
- Natural Disasters – Natural disasters range from hurricanes, earthquakes, to tornadoes. The last thing that you want to worry about is how you’ll afford to rebuild your home and replace the contents after such a disaster. A custom policy can protect your finances from this strain. Whether you live on a flood plain or not, flood insurance is always well worth the additional and minimal expensive.