You buy homeowners insurance to protect your home, but once you take a closer look at your policy, you realize it is lacking in many areas. A basic homeowners insurance policy will cover a variety of perils, but if you want a comprehensive policy, you will have to purchase additional endorsements to fill in the gaps.
The following is a list of what many homeowners would like to see in a perfect policy.
- Comprehensive Coverage
Policies that contain named perils will only cover those. Anything that isn’t specifically named within the policy will not be covered. On the other hand, a comprehensive policy will cover everything except for a few perils that are generally excluded. Therefore, with a comprehensive policy, you will be covered despite what peril caused the damage.
- Affordable Price
If you want comprehensive coverage, you will have to pay more. You can have affordable coverage that may cover most of the common perils, but it’s doubtful that you will find it easy to file a claim. You have to pay a higher premium for a comprehensive policy because of the relatively lower risk of your claim being denied. You can offset some of the cost of your premiums by choosing a higher deductible.
- Single Deductible
If you have one homeowners policy and a supplemental policy for hurricanes or floods, ask your agent for a single deductible. This way, you won’t have to pay expensive deductibles you can’t afford. You’ve bought your homeowners insurance and pay for it every month. So, you should be able to use it when an emergency occurs, and you need assistance even for minor incidents rather than waiting for a major disaster to strike.
- Personal Injury Liability
Most people assume that their homeowners policy covers personal injury liability. In most cases, it will be for common events such as a slip and fall. It may not cover dog bites or swimming pool/trampoline accidents. Talk to our insurance experts to find out what events are covered and what ones you may want to supplement.
- Guaranteed Home Replacement Cost
When you buy home insurance, you may overlook ‘cash value.’ The cash value of your home is not the same as its replacement cost. Instead of assuming the cash value of your home will give you what you need to rebuild your home (it won’t), insure your home for its replacement value. It will cost a little more, but you will be able to cover the cost of a new home when you file your claim.
- A Reputable Insurance Company
The most important part of any insurance policy is the company from which you buy it. A credible insurance provider can help you find the best policy. They will evaluate your coverage needs and match them with the right insurance policy. A good agent will ensure unwavering support and assistance even beyond providing a policy.
There may not be a “perfect” insurance policy out there. Nonetheless, by working with a reputable insurance company like Gant Insurance Agency, you will be able to find a policy that perfectly addresses your needs. Contact our insurance experts today to find the right homeowners insurance in McKinney, TX.
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