Home Insurance Guide for New Homeowners

Buying a home is a considerable investment. You’ve probably put all your life’s savings into buying your home — congratulations! But how do you make sure it’s protected? You see, one of the most significant concerns for homeowners is unforeseen calamities and loss of property. While we all hope for the best, we must prepare ourselves for the worst. And that’s why home insurance comes in handy.

What is home insurance, and what does it entail? If these questions linger in your mind, relax. At Deboo Insurance Agency Inc., we want you to understand the home insurance policy before purchasing it. Stick on for insights.

What is home insurance?

In simpler terms, home insurance is a policy that covers your property financially in case of an unfortunate event. To note also is that the unfortunate event must be covered in the policy. Let’s look at what a typical home insurance policy covers.

Types of home insurance

Before signing that policy, you must understand what you are getting yourself. Here are some of the types of home insurance that are available for you:

  • Dwelling coverage: This policy covers damages to the buildings on your property after a covered event occurs. To harness the power of this coverage, you must disclose all the structures on your property for adequate coverage.
  • Liability coverage: Liability coverage covers you when someone gets hurts on your property. The policy covers damages, including hospital bills or any lawsuits.
  • Personal belongings coverage: This coverage covers your items like furniture, electronics, and clothing when a covered disaster strikes. You should also disclose all your items to your insurance agent to ensure you are optimally covered in the event of a catastrophe.
  • Additional living expenses coverage: If your home becomes uninhabitable due to a covered event, this policy will put you in a temporary place like a hotel. It will cover expenses exceeding your everyday spending.

What is not covered in home insurance?

Like any other insurance policy, home insurance has exclusions. They include:

  • Military war
  • Act of terrorism
  • Invasion damage
  • Wear and tear damage
  • Floods and earthquakes damage
  • Intentional damage

Home insurance in Deerfield Beach, FL

Now you know what home insurance entails and what benefits it has. You can’t afford to miss one for your huge investment. Ready to purchase coverage? Talk to Deboo Insurance Agency Inc. for an affordable quote.