Home Insurance Basic Facts

If purchasing home insurance is on your agenda then its good to first learn some basic facts about it so that you’ll be prepared when the time comes to spend your hard-earned money. Luckily, it’s not hard to understand this type of coverage. So let’s take a look at some basic facts about home insurance.

Home Insurance Basics

  • It Insures Your Home and Everything in It. What’s great about purchasing home insurance when you buy a home is that it is considered to be a package policy. In other words, it was created to financially protect multiple aspects of your home, including your property, personal belongings, and even injuries to people and household pets.
  • Not Everything is Covered. While home insurance covers damaged property and injuries that have resulted from most instances such as accidents, natural disasters and fires, earthquakes and floods are typically not included. To make sure your home is covered for these two natural disasters, you must purchase separate policies. Also, everyday maintenance issues are not covered – you must pay for repairs in this category out of pocket.
  • Home Insurance Quotes Are Free. What’s great about searching for home insurance is that quotes are free. By entering a few details about your home – or the home you would like to buy ‘ including purchase price, age, construction type, distance from hydrant and fire department, and security features, you can receive an instant quote to determine how much you can expect to pay monthly.

Now that you know a few basic facts about home insurance, hopefully you feel more comfortable about getting out there to purchase some. You definitely want to make sure that you have narrowed down your options so that you don’t buy a home with no coverage to protect your property. Home insurance is essential to every home, so don’t get caught without it.