Your home is the center of your daily life, and likely your most valuable asset. When your home is damaged or destroyed, you need your claim settled by an insurance company that understands this simple fact. Michael Davis Insurance can help you find the home insurance that will best meet your needs and provide the most valuable combination of tailored coverage, quality service and fair pricing.
Depending on where you live – a house, apartment, or condominium – the right home insurance policy can provide you peace of mind as well as the money you need to repair or replace your home and/or belongings.
Whether you own or rent, insuring the place you call home can help protect you financially if you suffer a loss due to fire, theft, vandalism, or other covered events. An insurance policy will also make sure that you are covered if someone is injured while on your property and wins a legal judgment against you.
Homeowner insurance policies differ by which losses are covered, which coverages you choose, and what type of residence you own. You choose which policy is best for you, whether it’s a comprehensive policy that cover losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or whether it’s a policy that covers only specified losses.
If you are a home or condo owner, a renter, or a landlord, we will work with you to find a home insurance policy that fits your needs. We will make your choice easy, so you can be sure your insurance coverage provides you with the best value for you.
Your home insurance policy is most often made up of the specific options you choose. How much you’ll pay for your policy depends on:
- Options you select - Home insurance options are usually priced individually, so how much you’ll pay for your policy depends on what coverages you buy.
- How much you want to cover – Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you have a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
- Where you set your limits - You may choose to set higher limits than the recommended amount if appropriate to your situation and needs.
If you are worried that you are not completely covered, you may want to invest in an umbrella insurance policy that extends your coverage.
The Right Coverage. The Right Price. The Right Value.
The amount you pay for your homeowners insurance depends on many factors. Your policy will depend on your personal housing situation, and the assets you want to protect.
Property or Dwelling Coverage typically pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a kitchen fire or windstorm.
- Protection for You and Other People
Personal Liability Coverage applies if someone is injured or their property is damaged and it was your fault. This coverage generally applies anywhere in the world. When choosing your liability coverage limits, consider things like how much money you make and the assets you own. Your personal liability coverage should be high enough to protect your assets if you are sued.
This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover the health care costs for you or for other members of your household.
- Additional Living Expenses
If you can’t live in your home because of a covered loss, your home insurance policy will pay additional living expenses (commonly for up to 24 months) while the damage to your home is assessed and you are working on rebuilding and repairing your home.
- Protection for Your Belongings
Your home is filled with furniture, clothes, electronics and other items that mean a lot to you. Personal Property Insurance helps replace these items if they are lost, stolen or destroyed as a result of a covered loss.
- Scheduled Personal Property Coverage
If you own anything that is extraordinary or expensive such as jewelry, art, antiques or collectibles, you should talk to us about purchasing additional coverage for those items.
- If You Rent Out Your Home
Landlords may choose to purchase optional liability coverage for any risks that are posed within a tenant-occupied dwelling.
Protect The Things That Matter To You
It is important that homeowners make an inventory of their home and personal belongings. Take time to make a list or take photos or videos of the possessions within your home. Using two different methods to create your inventory is a great way to expedite the claim resolution process. Keep in mind that your policy does not cover damage caused by poor or deferred maintenance on your part.
Every home is unique. Talk to us today to find out how to get the best price and value on home insurance for you.