Homeowners Insurance

12/9/2020 (Permalink)

Do you have homeowners insurance? Do you have enough insurance to cover you in the event of fire or water damage?

You've probably heard it time and time again: your home is one of the largest financial investments you'll make in your lifetime but it's also an investment that's vulnerable to numerous risks. Home insurance offers peace of mind, with homeowners insurance, you can sleep a little sounder at night knowing that you have a veritable safety net if anything ever happens to your largest investment.

Coverage can include temporary housing after a disaster.

If your home is rendered uninhabitable after a fire, flood or say a brutal hailstorm, additional living expense coverage could help pay for temporary living costs while your home is being restored. These costs may include hotel expenses or interim housing, food, laundry, dry cleaning and even storage space.

A homeowners insurance policy covers the cost to restore the home's structure if the damage falls under the scope of the policy. The amount of coverage on the policy determines how much the insurance company will pay toward rebuilding the house, so you want to make sure that amount of your home covers far exceeds what the home is worth and how much you owe on it, if it is not paid for. The insurance company should calculate the amount of necessary coverage for you. By insuring the structure of your home, you are protecting yourself financially should damage occur.

• Pays to replace belongings or have them professionally cleaned/restored.

A standard home policy also covers your belongings in the event of serious damage. Even if you feel like you don't own much, replacing all your belongings would add up quickly. You need a homeowners policy so you don't have to go without the necessities and luxuries that you have inside your home., including various valuable, expensive, and important belongings such as documents, jewelry, clothing, appliances, and furniture.

• Fulfills mortgage contract.

Many homeowners carry a mortgage on their homes. If you are one of those mortgage-carrying homeowners, your contract likely requires a homeowners insurance policy. The lender has a financial liability in your home, which is the reason for requiring insurance. Most companies will place an insurance policy on your home if you don't have your own homeowners policy, so skipping out isn't an option. 

When your home gets damaged, the emotional and financial strain of rebuilding your house and reinstalling the contents is painful, and difficult to do alone. SERVPRO of Longview/Kelso has a great understanding of this and will work closely with you and  your insurance company every step of the process. 

If you've experienced any unforeseen circumstances that have affected your home, don't delay on contacting SERVPRO (360)703-3884.