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.