Property Insurance Details

If you own a home, you’ll want to ensure it’s protected.  If you carry a mortgage on your home, your lender will insist on it.  But the type of property insurance and its coverage will depend on a variety of factors.

How will the house be used?  Is it your primary residence, or is it a vacation home?  Are you renting all or a portion of it to tenants?  Do you run a business out of the home, involving business property for your home office or customers coming to your door?  These may or may not be points you’ve considered, but to be sure your interests and your assets are protected properly, you’ll need to dig a bit deeper.

What kind of property is it?  Is it a mobile home?  A manufactured home?  A stick-built home?  An under-construction home?  Your policy needs might evolve or change over time, so you’ll want an insurance provider and a policy that can be flexible, as needed.

Where is your home located?  Are you in a flood zone?  Even if you are not in a designated flood zone, are you aware that your homeowner policy does not cover you for flood damage?  This is an important consideration if you have a washing machine or dishwasher that leaks, especially on the second floor.  Likewise, if you have a pipe burst in the basement, the resulting flood would need to be covered by a flood insurance policy, rather than your homeowners.

Is there a fire hydrant nearby?  Is your home in a specific hazard area, prone to tornadoes, earthquakes, etc?  Do you have a security system?  If so, is it monitored?  Does it include fire as well as intruder detection?  Many external and environmental factors impact the cost of insurance and the types of coverage you may need.

Do you need a personal property rider on your policy to cover specific valuables such as jewelry, firearms, electronics, etc?  Likewise, should your policy be an all-risk policy, or should it be a named-perils policy.

Learn more about how Bratton Insurance can help you fine-tune your specific insurance coverage to perfectly meet your needs.  Visit our Property Insurance page to find out how we can help you save money while protecting your assets and lifestyle.