When you own a home, you have to take the good with the bad. While it is exciting to purchase a home, disaster can strike when you are least expecting it. This is why the home insurance advisors at South Carolina Federal Insurance Solutions want you to know what home insurance covers.
Keep in mind that the state of South Carolina does not require homeowners to have home insurance, but if you borrowed the money to purchase your home through a financial institution or mortgage company, your lender will require that you have this type of insurance in place to protect the investment they have made in your property. Even if you inherited your home or paid cash for it, you will want to have insurance to protect your home and its contents in the event of a fire or some other unforeseen disaster.
What Does Home Insurance Cover?
Home insurance covers not only your home itself, but it can cover other buildings on your property too. These buildings can include sheds, garages, and other structures like decks or porches. The structure of your home and these other structures will need to be repaired or replaced if they are affected by some sort of act of vandalism, a natural disaster, or even a fire. Home insurance will also cover your clothing and other personal belongings as well as household items, including your furniture and appliances if they are destroyed or damaged due to one of these circumstances. Your home insurance policy may also assist you in replacing items that are lost due to some sort of theft or burglary incident at your home.
There are other types of insurance you may want to invest in to protect your home that may not be included in a standard home insurance policy, like flood or earthquake coverage. Some policies can be endorsed to add these coverages or they may be purchased as a stand-alone policy. Your insurance advisor can provide more information.
Give Us A Call
To enlist the assistance of an experienced home insurance advisor in the Lowcountry, Midlands, or Upstate regions of South Carolina, call us today at (833) 359-0725!
If you’re buying a home for the first time and need to purchase insurance to satisfy your mortgage lender, make sure you understand what your policy covers in the event of a claim. Many people are unaware of the different coverage types and optional coverages you can add to make sure your home and belongings are protected. For instance, replacement cost is an optional coverage which can help rebuild your home in the same spot, with the same size and quality of construction, at today’s costs. At Insurance Solutions, we can help you understand the terminology in your policy to determine if the coverages and limits are sufficient to protect your investment.
The Scope of Your Policy
Depending on the type of policy, homeowners insurance is surprisingly broad in its scope and will cover many different elements of your home. It will cover the dwelling itself and your personal property in it, subject to the policy limitations and deductibles selected.
But what about protecting you and your family? Let’s take a deeper look to find out what you can expect on this coverage front.
Your home insurance can protect you and your family in a few different ways. The most obvious is your liability protection which helps to pay for injuries suffered by others on your property. This minimizes your financial liability should you experience a lawsuit.
Will your home policy protect your family if they get hurt on your property? Generally not. This coverage is provided most often by your family’s health insurance.
Protect Your Home
Give us a call today to answer your any questions you may have. Our experienced advisors can create an affordable home insurance plan that works best for your specific needs.
Insurance Solutions serves the residents of South Carolina, North Carolina, and Georgia. We can help you select an affordable policy with coverages tailored to your specific needs. Call us today at (833) 359-0725 to get started! We look forward to serving you.
Important Home Insurance Tips
Your home is one of your most prized possessions. Homeowners insurance can cover your house, other structures on your property, personal property, and additional expenses you may have in the event of a covered loss such as vandalism, fire, or a natural disaster. It’s important to make sure you are fully covered to protect this valuable asset. Our advisors can let you know what coverages are available to meet your needs. Click on the Email an Advisor link at the top of the page to upload your policy for a free review.
Here are some important tips to consider while you are searching for coverage.
Depending on your situation, it may benefit you to add extra coverages to your policy or obtain a new one. A standard homeowners policy does not include coverage in the event of an earthquake or flood. Our advisors can provide online quotes for you to consider. Also, if you have luxury items like art or jewelry, we can help get them scheduled separately on your existing policy to make sure they are covered if damaged or stolen.
If you plan to install a swimming pool, consider adding umbrella insurance. This covers you if someone is injured on your property.
South Carolina Federal Insurance Solutions Can Help You Protect Your Assets
Call or email us today to learn more about our coverage options. We look forward to working with you to build a homeowner’s insurance package that will fit both your needs and your budget.
Wouldn’t you love to know how you can get the most from your homeowners insurance? In addition to doing your own research, the Insurance Solutions team is available to help you through the process.
Understand What Your Policy Covers
Many times, a homeowner will sign up for the bare minimum and think they’re set. Unfortunately, this often doesn’t provide the coverage you need if you have valuables in your home or are concerned about flood damage. Knowing and understanding what your policy does and doesn’t cover with regard to specific perils is important.
Let Our Advisors Shop for You
As an independent insurance agency, Insurance Solutions can help you find a policy to fit your needs. Our advisors have access to multiple carriers and and can compare available coverages and costs to help you choose the optimum solution for you and your family.
Market Value vs. Replacement Cost
It’s wise to consider the difference between market value and replacement cost in the unfortunate event that your home is seriously damaged. The market value of your home is the price you would get for your home on the real estate market, which includes the land. Replacement cost is the cost to rebuild your house in the same spot, with the same size and quality of construction, at today’s costs. What about guaranteed replacement cost, actual cash value, and specified limits? Your Insurance Solutions advisor can explain the pros and cons of the insurance terms listed on your homeowners insurance policy and how it would respond if you have a claim. After a claim occurs is not the time to find out your coverage is inadequate to put things back the way they were.
Keep an updated home inventory and store it in a safe location. Include receipts, appraisal documents, lists, and photographs/videos. This way, you’ll be ready should the time come to make a claim.
Bundling Can Benefit You
Consider bundling other insurance policies with the same company as your home insurance. You may be able to save money and it’s more convenient too.
Getting the assistance of a quality insurance advisor makes it easier to get a solid home insurance policy. Our advisors have the knowledge and experience to help you obtain the best protection and value for the things you cherish most. Contact the Insurance Solutions team to get started.