Property Insurance can help put your mind at ease, knowing that in the event of a covered loss, your damaged home will be rebuilt and your destroyed belongings will be replaced. Here are a few of the coverage’s included:*
Dwellings and other structures
For most of us, our home is the single largest investment we will make. Homeowners insurance provides coverage for damage to your home and other structures on your property such as a shed or detached garage. For townhouse owners, your townhouse and separate structures are covered for almost any type of damages except for a few common exclusions, such as wear and tear, earth movement, flood, nuclear hazard and earthquake.
Homeowners, condominium, or renters insurance also provides coverage for your household contents and personal belongings. You may think your couch, coffee table, sweaters, shoes, coats, TV, VCR and CD player aren’t worth a lot, but those items all add up when you have to replace them.
In the event someone is injured on your property or you damage property that belongs to others, you could be held legally liable for the injury or damage. A homeowner, condominium or renter policy provides liability coverage and personal property insurance should this ever occur.
*Only up to the limits of the insurance coverage’s purchased.
What If I don’t have insurance?
Without insurance, you’ll be responsible for protecting your property, possessions, and liability exposure.
For instance, if your house burns down or is destroyed by forceful wind, you’ll need to rebuild your home and replace all your damaged possessions with only the funds you have or can obtain. Also, if someone is injured on your property, you may be sued for injuries and damages they sustain. Without insurance, you may have to liquidate your assets and even lose a portion of your wages if you need to pay for a judgment.