Protect Your Home and Property with Homeowners’ Insurance

The most significant asset you own is probably your home. That is why it needs to be insured against destruction or loss. Homeowners’ insurance can also provide financial protection if someone is hurt on your property. Commonwealth Insurance Center of Williamsburg, VA can answer all your questions about why homeowners’ insurance is necessary.

A homeowners’ insurance policy will be required to protect the mortgage company’s interest if you carry a mortgage on your property. It will pay for damage and losses to your property if an unforeseen disaster occurs, such as a burglary, fire, or weather event.

Homeowners’ insurance protects you from lawsuits and the equity you have gained in your property. Most standard homeowners’ policies will include a certain amount of insurance for your home’s contents. This is called personal property coverage. How much coverage you need will depend on the type of things you own and their value. Jewelry, artwork, furs, etc., may require a separate rider depending on their value.

It is important to understand that certain things are not covered under a standard policy. Damage that results from neglect or poor maintenance is not covered. This would include general wear and tear, insect or animal damage, rot, rust, mold, etc. Pride of ownership will help your property to hold or increase its value.

Be careful not to purchase too little or too much coverage than is necessary. Remember that rebuilding your home at a later date will cost more than at the time of purchase. A higher deductible will result in a lower monthly premium cost. Improved security and a more disaster-resistant home will also result in a lower premium cost.

Contact the professionals at Commonwealth Insurance Center in Williamsburg, VA, to obtain the coverage you need for your most valuable asset.

You will be glad you did.