Homeowners Insurance in Boynton Beach and Stuart, Florida
Owning a home is an investment that comes with inherent risk. If your property is damaged, you could be left with costly out-of-pocket losses that could cause financial hardship. The right homeowners insurance policy can help pay for these losses.
At Wiglesworth-Rindom Insurance Agency we make finding the right insurance easy. Contact us today in Stuart, Florida, to learn more about homeowners insurance coverage.
What Is Homeowners Insurance?
Homeowners insurance, also called home insurance, is essential to protecting your investment in your home. When the unexpected happens (e.g., a tree falls on your roof or a pipe bursts and damages your furniture), a home insurance policy can provide financial protection.
How Does Homeowners Insurance Work?
Your home insurance policy is a legally binding agreement between you and your insurer. In exchange for your premiums, your insurance company is legally obligated to pay for covered losses, up to your policy limits.
What Does Homeowners Insurance Cover?
Homeowners insurance is known as a package policy because it can provide personal liability coverage and pay for property damage from covered losses. Individual home insurance policies may vary, but the following are some common home insurance coverages:
- Personal property coverage can help cover damaged personal belongings due to a covered event.
- Personal liability coverage can help pay for expenses (e.g., lost wages, medical bills, legal fees) if you’re accused of causing third-party property damage or bodily injury.
- Dwelling coverage can help pay for repairs and replacements to your home from a covered peril.
- Other structures coverage can help cover damages to detached structures on your property stemming from a covered loss.
- Additional living expenses can help with temporary costs if property damage forces you to vacate your home.
Generally, flood damages are not included as a covered peril in home insurance policies. If you live in a high-risk zone, you may need a separate flood insurance policy to ensure sufficient protection against floods.
When Should I Get Homeowners Insurance?
Although home insurance is not legally required, most mortgage lenders will require you to have a policy to receive a loan. Generally, it’s considered a good idea to begin getting homeowners insurance quotes after you sign the contract to purchase your new home. This should give you enough time to shop around and search for potential discounts before closing on your property.
How Much Homeowners Insurance Do I Need?
Your coverage needs are unique to you. However, it’s generally considered a good idea to secure enough home insurance to cover the cost of rebuilding your house entirely if property damage results in its destruction and enough coverage to replace your personal belongings if damaged or destroyed.
How Much Does Homeowners Insurance Cost?
The cost of home insurance will vary among individuals. Here are some of the factors your insurance company may consider when determining the cost of your premiums:
- Location
- Home age and type
- Coverage limits and amounts
- Deductible amounts
- Claims history
How Do I Buy Homeowners Insurance?
We’re here to help you find the best home insurance for your needs. Contact Wiglesworth-Rindom Insurance Agency to learn more about our home insurance coverage and to speak to an insurance agent today.