How To Understand Home Insurance
For most people, their home is one of their largest investments. Not all home insurance policies are created equal. In fact, there are a variety of insurance policies available. It’s important to have an agent that can help you make a decision on what type of policy you need for your home.
What type of home do you have?
This type of policy typically covers interior structures like wallboard and lighting fixtures. In some cases your exterior walls may not be covered. It’s important to understand your responsibilities and to purchase a policy to match what you may become liable for replacing in the event of a covered loss.
In the traditional homeowners insurance policy, the entire structure is typically covered along with any detached buildings or sheds within certain limits.
If you own a home and are renting it to someone you need a policy called a dwelling fire. If this is your situation, we recommend you speak with an agent so they may help you to determine what company and coverage you need.
A Renters insurance policy typically does not cover the physical structure at all, but it often provides the renter with liability and contents coverage.
What is covered with a Traditional Homeowners Policy?
Most insurance companies will provide coverage for similar types of events that may damage the structure of your home. This may include fire, smoke, lightning, wind, hail, frozen plumbing, theft, vandalism, the weight of ice and snow, explosions, and several others.
If you have a home at the Lake of the Ozarks, it’s important to understand what type of coverage is available for boat docks. A McGrath Insurance Group agent can help to determine what company will be the most competitive for your particular situation, while still providing the coverage you determine necessary for your dock.