Tom's Blog
Your home may be your biggest investment; therefore isn’t it worth protecting? While you may think the answer to this is an obvious “yes”, you may not know how to go about finding the best protection. Knowing how to protect your investment with the right homeowners insurance is just as important as the day you chose to invest in the home of your dreams.
The “Right” Insurance is the Insurance Policy That Fits YOUR Needs
There is no such thing as a “one size fits all” homeowners insurance policy that offers great protection for all homeowners, so what may be just right for you may be entirely different than the next homeowner. That is why it is fundamental to discuss your individual needs with a licensed N.C. homeowners insurance agent to find the exact coverage that provides the protection your family and home deserves. Below are some topics you should review with your agent, but not limited to:
Valuable Items- Your valuables such as furs, antiques, or jewelry are only covered for specific stated limits under the standard N.C. insurance policy, which probably will not come close to the actual value of them, should you suffer a covered loss. Having them scheduled as an endorsement under your N.C. homeowners insurance policy can provide the protection you deserve for your valuables.
Age of Home- If you own an older home, be aware that if partially damaged, your standard homeowners insurance policy may not cover the loss if you have not done building code upgrades for electrical, plumbing, structural, or heating. Discuss the age of your home with your independent insurance agent to determine any specific limitations imposed or requirements you may need to undertake.
Water and Sewer Backup- This is one of the biggest uncovered types of claims because many homeowners just assume if water and/or sewage backs up into their home, it will be covered. A standard N.C. homeowners insurance policy excludes damages from water and sewage backup into your home; however, you can purchase an endorsement for a nominal fee that will add back on this coverage.
Flood- Although many people do not know this, flood damages are excluded from all homeowners insurance policies and require an entirely separate insurance policy to provide protection from damages caused by flooding. A flood policy can be obtained at Paramount Insurance Agency for as little as $129 per year for a preferred risk policy.
Collectibles- If you experience a covered loss, such as fire or theft, and your collectibles are destroyed/stolen, you will not get the value you deserve under a standard N.C. homeowners insurance policy. Documenting your collectibles by keeping inventory of them, receipts, pictures, and/or current appraisals can help you and your N.C. insurance agent determine the right type of insurance protection you need for these valued collectibles. Collectibles may include items such as rare books, coins, art or even wine collections, so discuss this with your N.C. independent insurance agent TODAY.
Home Business- If you are operating any type of business out of your home, you should discuss this with your agent so that you are aware of what is covered and excluded. There are special exclusions and limits for liability and property used for business in your home.
Additional Special Exclusions- There are an abundant amount of special exclusions that may directly affect your insurance protection, so discussing them with your N.C. independent insurance agent may help you consider the purchase of “add on” coverage endorsements (for a nominal fee) to add back the coverage you may specifically have concerns about or need.
Paramount Insurance is here for your specific homeowners insurance needs and can provide the right insurance protection for you at the lowest cost, so call our office TODAY at 866-869-3335.
