4 Factors to Consider When Shopping for Home Insurance

Homes have many potential perils that homeowners insurance policies can protect against. If a covered incident damages your home, a homeowners insurance policy should pay up to policy limits to fix it or pay for your losses. Unfortunately, according to Value Penguin, 47% of homeowners don't know what their home insurance policies cover. When shopping for coverage from home insurance services , here are four factors you should consider to ensure your home has full insurance protection.

A standard homeowners insurance policy may not insure against damage caused by external flooding. You might need to purchase a separate flood insurance policy to protect your home against any damage caused by water that enters from the outside. You should check local floodplain maps provided by the federal government to determine if your home is located within a federally designated floodplain and make sure you're covered in the event you need it.

Many locales are more prone to certain natural disasters than others. For example, if you live in the northeast as we do, you're less likely to have earthquake damage destroy your home when compared to someone living along a fault line in California. Your local home insurance services can help you identify the more likely natural disasters that affect where your home is located and protect against them with suitable homeowners insurance coverage that you can modify for your needs.

A homeowners insurance policy includes coverage for furnishings and belongings, but seldom at the level most homeowners truly need. You might have artwork, antiques, or other high-value items worth much more than a basic homeowners insurance policy would cover. You might be able to buy additional coverage that covers those high-value items and gives you the choice of market value, replacement value, or an insured value based on an expert appraisal.

Your homeowners insurance policy likely covers your home and attached structures. An attached structure includes those connected by walkways or utility services, like electrical and septic services. A detached garage is an example of a structure that might not be directly attached to your home but is connected by utilities, a walkway, and a driveway. You might need additional coverage for a shed or other structures for complete protection.

You can call or visit our office to learn more about our home insurance services and get a quote on homeowners insurance protection for your entire home and property. The team at XL Brokerage Inc looks forward to working with you!