Homeowners Policy: An Overview

​Your state law might not require you to get home insurance, but some banks and mortgage companies typically do. Aside from that, it can protect your property against accidents or disasters. Knowing the coverage will help you get the benefits of maintaining your home. Secure your assets and property while preparing for the worst. 

What Can Homeowners Insurance Do For You?
When you purchase Home Insurance, it typically protects two main things:

• Your house or garage. That usually includes costs for repair of damages, construction, and rebuilding.
• Personal belongings or home assets like jewelry, electronics, or gadgets. 

Some insurance companies offer comprehensive protection for your house and the properties that need repair or replacement.

Actual Cash Value or Replacement Cost
Coverage levels are set for structures and personal properties: Actual cash value and replacement cost. Actual cash value means the cost minus depreciation to the current market price for materials in rebuilding and repairs. While replacement cost replaces or rebuilds with materials at the current market price.

Home Insurance Coverage
Natural disasters are usually not covered in basic policies like sewage backups and damages caused by floods or earthquakes that can be purchased individually or as an additional. Some policies cover different assets that need assistance for rebuilding needs that could be destroyed, stolen, or damaged.

• Personal Property
• Medical Payment
• Personal Liability 
• Dwelling Coverage
• Loss of Use Coverage
• Other Structures Coverage

Factors That Affect Home Insurance Costs
Knowing factors in the "Risk Profile" is an important part of getting protection, especially home insurance. It can help you save money or get the most out of it. These include factors like:

• Geographic Location
• The age of home
• Marital Status of the Homeowner
• Deductibles
• Claim and Credit History

Conclusion
Even if your state doesn't require Homeowner Insurance, remember that insurance is a necessity that you must provide for your family. Not only will it protect your house from damage or destruction, but it can also protect your assets inside. 

Many insurance companies offer the best policies that fit your home maintenance needs. Better to take the coverage you need and avoid settling for low rates.

At Kapasu Insurance Services Inc., we aim to provide comprehensive insurance policies that make your life easier. We want to help you get the insurance that fits your needs. You can get more information about our products and services by calling our agency at (760) 995-3853. Get your free quote today by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!