Homeowners Insurance in Hendersonville, Asheville, and Smyrna, NC
Owning a home is a significant achievement that comes with its fair share of responsibilities and potential risks. Homeowners insurance offers protection and peace of mind against unforeseen events that could threaten the value and security of your most precious asset.
What Is Homeowners Insurance?
Homeowners insurance, also known as home insurance or property insurance, is a type of insurance policy that provides financial protection to homeowners against various risks and losses related to their property.
What Does Homeowners Insurance Cover?
Homeowners insurance may include the following coverages, among others:
- Dwelling coverage may protect the physical structure of your home, including the walls, roof, floors and foundation, against covered perils (e.g., fire).
- Personal property coverage may cover your personal belongings, such as furniture, appliances, clothing and electronics. It may help reimburse you for replacing or repairing these items if they are damaged or destroyed by covered events such as fire or theft.
- Liability coverage may help if someone is injured or their belongings are damaged while on your property, and you are found legally responsible. It may help cover medical expenses, legal fees and settlement or judgment costs resulting from such incidents.
- Additional living expenses may help pay for temporary living arrangements and additional costs like meals and transportation if you cannot live in your home due to a covered event.
How Does Homeowners Insurance Work?
Homeowners insurance offers financial protection to homeowners by covering potential losses and damages to their property and belongings. The coverage period begins after choosing a suitable policy and paying a premium. A claim is filed if a covered event occurs, like fire or theft, and the insurance company assesses the damage. After deductibles, a payout is provided to cover repairs or replacements. Liability coverage also protects against legal claims from injuries on the property. Regular policy review and understanding coverage terms are crucial for adequate protection.
Do I Need Homeowners Insurance?
While purchasing a home insurance policy may not be mandated by the federal, state or local government, your lender may require proof of home insurance if you have a mortgage. Carrying appropriate homeowners insurance is always a good idea as the policy can help financially protect you if you experience a covered accident or other loss. Without home insurance, you may be left to cover the replacement or repair costs on your own following an incident.
How to Get Homeowners Insurance
If you need a homeowners insurance policy or want to evaluate whether the coverage you have is adequate, we’re here to help. Give Barnette & Coates Inc. a call today to get started or request your free quote now.