Two Ways Home Insurance Protects You

When you own a home, it’s essential that you have a home insurance policy for it. It’s usually required for homeowners to have this insurance. Virtually all mortgage lenders will require buyers to have it. If you have a homeowner’s association, they will also require it. Home insurance comes with different types of protection that each protect different aspects of what you own.

If you’re buying a home and need to get it insured, call us at North Coast Insurance Services in Lexington, MI.

Dwelling Coverage

When you have home insurance, it covers the actual house. This is one of the most important types of coverage it offers because home repairs can be so expensive. If a covered event should happen, like certain accidents or disasters, your home insurance will be there to pay for the repairs needed. Repairs can run into the tens of thousands of dollars or even more. Without this coverage, you are at high risk for financial devastation. Always have home insurance to protect yourself financially. 

Possessions Coverage

Your home is valuable, but the things inside it are as well. Another important type of coverage offered in a home policy is coverage for all of your belongings that are on your property. You’ve invested a lot into your things, and it could be extremely expensive to replace everything. Home insurance protects you against a wide range of damaging events that could ruin or destroy your belongings. Few people could afford to replace everything themselves. They need home insurance because this coverage can protect them from that scenario. Think about the value of everything in your home It adds up to quite a lot. 

Get Your Home Insurance Policy

When you need home insurance, we’re here to help. Give us a call today at North Coast Insurance Services in Lexington, MI to get started. 

Can You Get Home Insurance for a Vacation Home?

A common question that homeowners ask our team at North Coast Insurance Services, serving Lexington, MI, is whether they should get a second policy of home insurance for their second home. If you want to know more about how you could obtain home insurance for a vacation home, we’ve got you covered.

Can You Get Home Insurance for a Vacation Home?

Before deciding whether home insurance is right for your vacation home, you’ll probably want to know if it’s possible to have home insurance for a vacation home. The answer to this can depend on several different factors. Firstly, when you aren’t occupying your vacation home, do you rent it out to other occupants? If so, you will almost certainly need to obtain landlord’s insurance for the home to be properly protected. 

For those who don’t rent out the home to others, you will probably not be able to have it under the same policy as your primary place of residence. This is because each home has unique risk factors. One house is occupied every day and takes on a lot more wear and tear over time. The other home is unoccupied for long stretches of time, which increases the risk of thieves taking advantage of its vacancy. 

Even if no one tries to break into your vacation home, it is still at risk of disaster-related damage and other issues. This is why most home insurance policies will not let you add a second residence. Instead, you may need to take out a second home insurance policy or specialized vacation home policy.

Reach Out To Us

To learn more about your options to protect your vacation home, call our team at North Coast Insurance Services serving Lexington, MI today!

Why Home Insurance Is So Important

If you own a home, it’s a great way to build up equity and wealth and make your housing payments work for you. When you own a home, it’s important to have a home insurance policy to protect both it and yourself. Going without this important coverage opens you up to everything from lawsuits to financial ruin after a damaging event. If you don’t yet have a home policy for your home, give us a call now at North Coast Insurance Services in Lexington, MI.

It’s Usually a Requirement

In many cases, you are required to have home insurance to protect your investment. This is true when you have a mortgage or a second mortgage. The lender will require you to have the home covered by insurance so that their investment in it is protected. You will likely have to show proof that you have this insurance when you go to sign the papers at your home closing. Many homes today are in areas that have a homeowner’s association, or HOA. When you live in one of these areas, it’s generally required by the HOA that you keep home insurance on your property. That makes it unlikely that a home will be damaged and stay that way because the owner can’t afford to fix it.

Different Types of Coverage

There are many ways that a home insurance policy protects a homeowner. It will pay for repairs after the home is damaged by a covered incident. It will cover all of the items inside your home in the same circumstances so that they can be replaced. It even covers your liability in case of an injury on your property. 

Get Home Insurance Today

Every home should always have this coverage. To get started, call us at North Coast Insurance Services in Lexington, MI.

How Home Insurance Protects You

Part of the responsibility that you have when you own a home is to have home insurance in place. This insurance is extremely valuable and can protect you against a wide range of accidents and incidents. If you need a home insurance policy, call us now at North Coast insurance Services in Lexington, MI.

Damage to Your Home

There are many incidents that can happen to your home that result in damage that needs to be repaired. There are various types of disasters, accidents and other occurrences that can leave you with enormous repair bills. With your home insurance, these repairs are taken care of by the policy. If your home is completely destroyed, your insurance will even pay for it to be rebuilt as it was before. Without this insurance, you may be unable to afford to get your home back into good condition. 

Damage to Your Belongings

The dwelling itself isn’t the only thing that can get damaged. There are many incidents that can happen to homes that cause your possessions to be damaged or ruined. Your home policy covers those situations as well. When you have significant damage to your belongings, the policy can pay to have your items repaired or replaced. It’s a valuable coverage to have after a covered incident like certain natural disasters. 

Protection for Your Lifestyle

If something serious does happen to your home, it may be unlivable for a while until the right repairs are made. This situation can be devastating to your lifestyle and your standard of living. To protect your lifestyle, your insurance policy can pay for you to live somewhere else until the repairs are made. 

Protect Yourself With Home Insurance

If you own a home, or you are about to buy one, give us a call at North Coast insurance Services in Lexington, MI about getting a home insurance policy. 

Does Home Insurance Cover Theft?

A standard home insurance policy will cover your belongings if they are stolen outside or inside your home. The most important thing to determine is if your belongings are covered for Replacement Cost Value (RCV) or Actual Cash Value (ACV). With ACV, you get the amount your item is currently worth. RCV will give you the amount it costs to replace the same product at the current economic value. For example, if you got your TV five years ago, it may not be worth much now due to depreciation with ACV.

Those listed under your policy will have their belongings covered by your policy. This includes your children, spouse, and those you have identified on your policy. It will extend coverage to these people living in different places. For example, if your child is living in a dorm room on campus, then your policy protects them if their belongings are stolen.

Your home insurance policy in Michigan will cover most everything that can be stolen with some exceptions. Some items cost a higher amount to replace, and this means standard insurance policies will limit the amounts you will be reimbursed if these certain items are stolen. Jewelry and cash are two examples. If your car is stolen, it won’t be covered under your home policy but instead can be covered by a comprehensive auto policy. If you do have jewelry or items that are high in value, you may need to consider a personal floater. This coverage is added to the standard policy to help insure high-value property. You can go over your policy limits with an agent at North Coast Insurance Services in Lexington, MI.

Your home insurance will generally cover losses from break-ins. The first loss is of possessions, such as TVs. The second can be damage to the physical structure, and insurance can also cover those repairs. Discuss this further with your agent if you have questions.

Contact North Coast Insurance Services in Lexington, MI to get a quote on home insurance.