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Home insurance can be a complex issue, but you can make your decision easier by taking the time to understand the basics. For most people, their home is the biggest financial investment of their lives, so it’s extremely important to properly insure it. As you learn more about the topic, you will be able to compare house insurance quotes online and decide which one is the best for you.
What, exactly, does a policy cover? While the specifics vary from one policy to the next, in general, home insurance covers:
• Dwelling (repairs and rebuilding)
• Personal property for certain types of items such as furniture
• Liability (in the event of a lawsuit)
• Other structures on property
• Loss of use (in the event that you have to temporarily move out of your home while it is being repaired)
There are also options for additional home coverage, such as add-ons for specific items. Flood, fire, hurricane, etc. coverage might also be required depending on where you live. Even if they are not required, you still might want this kind of protection.
What Do House Insurance Quotes Include?
House insurance quotes sometimes include discounts or savings offers. Usually, if you have security features installed in the home, you might quality for a discount. Sprinklers might be worth investing in too, as it can bring the price of fire insurance down a bit.
As far as personal property damage goes, this can include anything from high-end electronic equipment to designer clothing. You do have some flexibility here, so be sure to select a coverage amount that you can be satisfied with. The ideal policy could potentially replace everything you own after extensive damage or burglary to the house.
Your phase of life also plays a role in the level of home insurance you should consider. If you are a single buyer with no children, you probably won’t need as much coverage as an established family. It would probably be easier for you to risk a higher deductible when there are no children to worry about caring for so that you won’t have to spend a high amount on premiums. If you do have a family with children, it’ll be the other way around. If you are older and getting closer to retirement, you might want to raise the deductible again.
Whatever protection you are looking for, you can begin obtaining house insurance quotes at Lemonade. Other insurance companies take their time in paying out claims because they want to keep as much of your money for as long as they can. Lemonade takes a flat fee and pays out claims very quickly and offers good customer support.
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