Owning a home for the first time is a beautiful experience. However, with the excitement of finally becoming a homeowner comes a slew of factors that need to be considered with the purchase and process of moving into your new abode. One of those in particular is insurance. While no one really likes to consider the idea of an accident or natural disaster striking their home, we should consider the possibility if we want to fully protect our home and family from the repercussions. That’s where homeowner’s insurance in Lafayette, IN comes into the picture.
The purpose of homeowner’s insurance in Lafayette, IN is to protect your home from both structural damage and interior damage. This type of insurance includes a few different policies that are designed to protect your home and belongings.
2 Policies Designed to Protect Your Home with Homeowner’s Insurance Lafayette
1. Peril Policy
The first policy used to protect your home is called a peril policy. This policy will provide a payment if your home or belongings are damaged or missing as a result of catastrophic or damaging events like fire, high winds, or theft. The events named in this policy are the events covered.
2. Comprehensive/All Risk Policy
This policy covers all types of perils unless they are clearly excluded. This is the most comprehensive type of coverage available. Essentially, any risk which the contract does not explicitly state as omitted is automatically covered.
The purpose of these policies is to protect your home and valuable possessions in case of unforeseen damage to the property. The policies are paid out in accordance to either replacement value or cash value. Because of this, you will have the funds to pay for a new item or a replacement version.
The most important factor to remember when choosing homeowner’s insurance in Lafayette, IN is to make sure you have the plan that best suits your needs, your family’s needs, and the needs of your home. This plan should also cover your belongings and guests that are visiting with liability and medical.
Peggy Reese of Reese Insurance has been protecting clients with quality insurance coverage since 1998. She can assist you with choosing the best homeowner’s insurance in Lafayette, IN to meet your specific needs. Rates are hard to compare if you are only looking at a couple of items, like the deductible and the dwelling limits, which makes it crucial to get the opinion and advice of someone who has been working in the industry for decades. The named peril vs. comprehensive perils can have inside limitations and specific requirements to be paid in full for the replacement that is listed on the declaration. Peggy Reese is happy to help you make those comparisons using your own current policy in comparison to the new one you are considering.
While larger insurance companies can leave wide gaps in the process, Reese Insurance will work with you to solidify your plan and provide you with the knowledge and coverage you need to rest easy knowing your home is covered. With Reese Insurance, you’ll always get the coverage you need at the best possible price. Call today for a consultation.