7 Crucial Considerations When Buying Homeowners Insurance

Purchasing a home often marks the beginning of a lifetime investment for military homeowners.

Once you own a home, you need to ensure that it’s protected with adequate homeowners insurance.

Above all else, don’t assume that your insurance covers a particular defect or issue. Your homeowners insurance should include the following:

The house

The basic function of homeowners insurance is to protect the physical structure of your home. For big repairs, the insurance should offer a payout.

Contents

Think of all the sentimental things you have. Now imagine they get damaged. Although they’re irreplaceable, it would be nice to receive some kind of compensation. For irreplaceable and replaceable goods, get insurance that protects against damage to the contents of your home.

Floods

Even in an area far from bodies of water, get insurance against flood damage. Heavy precipitation or broken levees cause floods even in dry regions. This is a mandatory element in some parts of the country.

Mold

A trickier damage to control, mold often goes unnoticed by homeowners. It can be the result of water damage near pipes or AC units. Even if you get mold damage covered in your insurance, it’s inconvenient to fix the damage. Dehumidifiers can reduce the chance of developing mold, as can looking out for wet walls or carpets after harsh weather.

Sewage

Coverage for sewer problems isn’t pricey. You’ll probably pay $20 to $40 more a year to have protection against sewage damaging your house. Regardless of whether you have a new or old home, sewer leakage can strike because a tree root hits a pipe or the community system backs up.

Fire

Fires leave little in their path and smoke damages property just as badly. Pinpointing a general price is difficult because it depends on several factors ranging from how close you are to a fire hydrant to fire resistance of the materials used to build the house.

Liability

When somebody gets hurt on your property—whether they’re intruding or welcomed—he or she can sue you. Liability insurance keeps you from having to pay every court cost and fee if you’re sued.

The bottom line

Including the right coverage in your insurance is part of being a responsible military homeowner. Keep your investment, your property and your family protected by verifying that your insurance covers what you need.

And be sure to get multiple quotes and shop around for the best coverage at the best price.

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