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Whether your own (or are paying to own) your home or are renting your place of residence, you will need home insurance. The most common things that these policies include are:

  • Coverage for your dwelling should you have to repair or replace the structure itself
  • Coverage for other structures on the property – outbuildings, storage lockers, garages and barns
  • Coverage for your Personal Property – the contents of your dwelling our outbuildings
  • Payments to you for Loss of Use – if you had to live someplace else while construction takes place
  • Medical Payments to someone (whether they were your guest or on the property uninvited) should they be injured on your property, in your apartment or in your home.

It is important to make sure that your homeowners’ or renters’ insurance policy will actually cover today’s costs of restoring your property and contents, leaving you whole again after a fire or other calamity or vandalism/ theft happens. It is tempting to accept a policy without an inflation protection because the premiums seem a little cheaper, but you run the risk of not having enough coverage to stabilize your living situation or restoring you to at least what you had before the event.

There are other things to examine in your policy. Some plans cover roof damage. Others may also include damages your pets may cause. Still other policies may include identity theft.

Before you commit to your next homeowners or renters insurance policy, contact Professional Benefit Solutions to see the comprehensive plans that we have and how that may leave you better protected in the next storm.