7 Vital Coverage Options for Your Homeowners Insurance Policy

Document of Homeowners Insurance Policy for background

It is not uncommon to be overwhelmed when looking for the right homeowners insurance policy to invest in. To ensure that you have the right amount of coverage for any unfortunate situation, make sure that your policy has these 7 coverage options.

  1. The right limit – the limit on your homeowners insurance should be enough to completely rebuild your home in case it is destroyed. Keep in mind that every time you renovate your home, you will need to raise your limit to cover the increased value.
  2. Guaranteed replacement cost – guaranteed replacement cost ensures that you can rebuild your home after it is damaged or destroyed without having to worry about depreciation and increase in insurance construction costs.
  3. Liability coverage – make sure that you have enough liability coverage to protect all of your assets in case someone is injured on your property.
  4. Loss of use – if your home is completely destroyed and you are not able to stay there while your home is being rebuilt, loss of use will reimburse you for the cost to stay at a hotel or rent a home while you are displaced.
  5. Endorsements – every person’s needs are different, and endorsements can make sure that you have the right amount of coverage for situations that are specific to your life.
  6. Deductible – make sure that the deductible for your policy represents the amount you are willing to self-insure.
  7. An independent insurance agent – working with an independent insurance agent ensures that you will be well taken care of and can offer trusted advice when it comes to choosing the right policy.

For all of your homeowners insurance coverage needs and to ensure that you are protected in any situation, contact the independent insurance agency DG&M Agency in Rochester, New York.