Homeowner's Insurance Coverage Options

Imagine coming home to find your house completely trashed and damaged, with all of your electronics and expensive jewelry missing. The robbery would be bad enough by itself. However, what if you didn’t have homeowner’s insurance? At Focus1 Insurance Group, we can connect you with an affordable policy that can help protect you in cases like these.

What Is Homeowner’s Insurance?

Homeowner’s insurance is a form of financial protection that is extremely beneficial in the event of an unfortunate incident, such as theft, vandalism, fires, storms, and other natural disasters. Standard policies don’t usually cover damage caused by floods or earthquakes. However, you are able to purchase additional coverage if necessary.

Why Do I Need Homeowner’s Insurance?

When you purchase a home through a lender, you will be required to obtain insurance before completing the closing process. Some condominiums and homeowner’s associations also make this a requirement. However, whether you are required to have insurance or not, there are several reasons why you should have an adequate policy in place.

As previously mentioned, insurance can help cover the costs of repairs and rebuilding projects. Unless you have access to tens of thousands, or even hundreds of thousands of dollars, you won’t be able to foot the bill on your own. This could potentially leave you with a home that’s either visibly damaged or completely uninhabitable. When you have the proper coverage in place, not only will you receive financial assistance to cover repairs, you may even receive assistance to cover temporary living costs while your home is being repaired.

What Does Homeowner’s Insurance Cover?

Homeowner’s insurance generally covers your dwelling, other structures on your property, your personal belongings, and liability cases. Dwelling protection includes the actual structure of your home and anything attached to it, such as the garage. Other structures protection refers to detached structures that are on your property. This can include everything from the fence to the tool shed. Your personal property includes the contents that are inside your home, like electronics, jewelry, and clothing. Liability protection helps you in the event that a visitor is injured on your property. Having this policy in place will help you cover their medical costs, as well as potential legal fees.

What Questions Should I Ask My Agent?

Shopping for homeowner’s insurance shouldn’t be done on a whim. There are several questions you should ask your agent before purchasing a policy. We have compiled a list of questions for your convenience:

– How much insurance do I actually need for my home?
– Considering my income, what would be a reasonable deductible?
– What are some ways I can lower my premiums?
– What discounts do I qualify for?
– What can I expect when making a claim?
– Does my credit rating affect my insurance premium?

The Focus1 Insurance Group can help you protect your home, as well as your finances. Give us a call today at (541) 951-9559 for your free quote or request a quote online.

Home insurance facts for residents in Oregon - Focus1 Insurance Group

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