What is homeowners insurance and why do I need it?

Homeowners insurance protects you financially if something unexpected happens to your home or possessions. A standard policy insures the home itself and the things you keep in it. It’s a package policy, meaning it covers both damage to your property and your legal responsibility for any injuries and property damage you or members of your family unintentionally cause to other people. This includes damage caused by household pets.

You need homeowners insurance because your home is likely one of your largest investments, and major damage can be incredibly expensive.

What exactly does it do for me?

• If your home was destroyed by fire or damaged by a storm, for example, insurance can give you money to repair or replace it.
• If a guest in your home is injured, liability protection and medical coverage help pay expenses.
• If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.

What’s typically not included?

Damage caused by most disasters is covered, but there are exceptions. The most significant exceptions are damage caused by floods, earthquakes and poor maintenance. You must buy earthquake and flood coverage separately, for example. Maintenance-related problems are usually the homeowner’s responsibility.

It is important to know that homeowners insurance is meant to cover unexpected damage, not routine maintenance. To be 100% clear on what is covered, be sure to read your policy and talk through it with us so you know exactly what’s included and what is not.

How can DeAngelis Insurance help?

Because everyone’s needs are different, we talk through your specific situation to help assess your needs and find the insurance policy that is right for you.

Here are a few things we’ll cover during our conversation:

• How much will it cost to rebuild your house and replace your belongings if they are damaged or destroyed? (Ask us to talk you through your home’s features and the things you own so you can make an informed decision about coverage.)
• Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
• What discounts are available? (Ask about multiple policy, security system and fire resistance discounts.)
• What’s the process for filing and settling a claim?