Date Archives: September 2013

Being a homeowner is a tremendous gift that brings with it a feeling of independence, prosperity, and accomplishment. There are few things that can compare to the uniquely satisfying experience of coming home to one's own residence. However, houses need to be looked after properly and protected against any problems that may occur. This is where homeowners insurance becomes extremely important.

Why Get Homeowners Insurance?

There are a multitude of reasons why homeowners insurance is a good idea. For those that live in areas where natural disasters often occur, such as hurricanes or tornadoes, homeowners insurance is especially important. These policies will help a homeowner get back on their feet after possessions or their entire home is lost in a storm. Beyond natural disasters, a policy may protect property owners in other ways. Some insurance policies can cover dog bites, while insurance policies that have off-premises' coverage will protect belongings anywhere. Certain types of insurance will even cover totally random accidents, such as a satellite dish falling over and damaging part of a home.

How To Get Homeowners Insurance

To pick a policy that fits the bill for property requirements, an insurance search should be performed cautiously. While price can make a difference when it comes to picking a policy, it is also important to work with a credible agent and firm. Homeowners would do well to get in touch with people that they know that have policies that they are pleased with and see which companies or agents they insure with.

It is also important to carefully read a policy to understand what type of reimbursements a homeowner can receive. Common types of coverage are actual cash value, which covers the worth of the items at the time they were destroyed, replacement cost, which is the value of items lost or damaged without depreciation, and extended replacement cost, which covers the entire amount to rebuild a home or replace belongings. Extended replacement costs do have ceilings, so homeowners should be aware of these limitations.

Choosing insurance for a home is one of the most important steps that a homeowner needs to take to safeguard their property and the people that live there. For other questions about homeownership or real estate in West Virginia or Virginia, visit Old Dominion Realty. The professionals at Old Dominion understand how to help anyone through the complicated process of buying and maintaining property.