Home insurance is a lifesaver when natural disaster strikes. It provides coverage for damages and helps you get your home back, saving you and your family from being homeless.
In this article, Beacon Point Insuranceexplains how home insurance works, the benefits of home insurance, and how to get discounts on your home insurance policy.
What is Home Insurance and How Does it Work?
Basically, home insurance is an insurance policy that protects your home, property, and any personal belongings you have in your home.
When a disaster occurs and damages your home, your home insurance policy can save the day by compensating you for the damage and covering the costs of reconstructing the home and replacing all personal belongings that were damaged alongside the house.
A typical homeowner policy will cover the costs of accommodation if you have to stay somewhere else while rebuilding your home. It will also cover the cost of injuries from accidents on your property.
Also, if you unintentionally cause damage to another person’s property, your home insurance will cover the damages.
What Does Home Insurance Policy Cover?
A standard home insurance policy covers the costs of replacing or reconstructing your home after a disaster resulting from fire, smoke, vandalism, or natural disaster.
It doesn’t just protect your home; it also covers the personal belongings you have in the house. For example, if your furniture gets stolen from your home, you can file for reimbursement from your insurance provider.
Your homeowner insurance also provides liability coverage. Meaning that if someone who doesn’t live in your home gets injured on your property, they’ll be reimbursed for medical fees and damages.
However, it is essential that you carefully go through your contract to understand what your insurance policy covers and what to expect when a disaster occurs.
Why Do I Need a Home Insurance Policy?
Unlike auto insurance, home insurance is not mandated by law; however, most mortgage lenders still require that you have it in place. Typically, your mortgage lender will require that you get a homeowner policy as a requirement to approve your loan.
Even if you have fully paid your mortgage, getting a home insurance policy is still important as it helps to protect your home when a disaster happens and protects you from becoming homeless.
Home insurance also provides liability coverage for you when someone gets injured on your property, saving you from paying damages that might be worth thousands of dollars.
What Are the Benefits of Home Insurance Policy?
If you are wondering if getting a home insurance policy is worth the money, the answer is yes. Some of the benefits of getting home insurance include the following:
1. Its Protects Your Main Structure
Your home is one of your most valuable investments, and you must protect it dearly. Home insurance covers your main building against natural disasters and other occurrences. It helps to ensure that you and your family will not suddenly become homeless after a major disaster.
2. Protects Other Structures on Your Property
Your home insurance will not only cover your home, but it will also cover other detached structures on your property, such as your garage, deck, and fence. Most home insurance companies protect other structures up to 10% of their value, but you can customize your policy to increase the coverage if you want.
3. Provides Liability Coverage
When someone gets injured on your property, you might be liable for their medical fees and other damages they suffer from the accident. Sometimes, these costs can be up to thousands of dollars. Thankfully, your home insurance policy can provide coverage for your liability, saving you from running into debt.
4. It Covers Your Home Content
Home insurance policy does not only cover the structure of your home; it also covers the content in it. With a home insurance policy, you can rest assured that you’d get reimbursement if your property, such as appliances and furniture, gets damaged in your home during a disaster.
How to Get Discounts on Your Home Insurance
If you want to reduce your home insurance costs, you can start by getting discounts from your insurance agent. There are many discounts you can enjoy from your home insurer, and they include the following:
1. Smart Home Discounts
Adding smart devices such as smart thermostats, automatic sprinkler systems, and smart fire alarms will help to improve your safety, improve your risk profile, and qualify you for a discount on your home insurance policy.
2. Loyalty Discounts
Most insurance companies reward their customers for loyalty, and you want to take advantage of that reward. Get your home and auto insurance policy from the same company under the home and auto bundle to get a significant discount on your policies.
3. Home Improvement Discounts
Improving your home with new, stronger materials will enhance its security and reduce the chances of disaster, allowing you to qualify for discounts from your insurer. Some home improvements that qualify you for discounts include replacing your roof with stronger, impact-resistant ones and installing storm shutters.
What is Auto Insurance and How Does it Work?
Auto insurance provides coverage for your car when you are involved in an accident or your vehicle is stolen.
Unlike home insurance, auto insurance is mandatory by law, and every adult driving in the United States must have auto insurance coverage. Driving without auto insurance can result in heavy fines or even jail time.
There are many types of auto insurance coverage that you can choose from, such as liability coverage, comprehensive coverage, collision coverage, medical payment coverage, and uninsured motorist coverage. You can select the types of coverage you need or customize any of the policies to suit your needs.
Reliable Home and Auto Insurance in Missouri
If you are looking to get home or auto insurance in Kansas City, Independence, and other cities in Missouri, Beacon Point Insurance has the best rates for you.
Beacon Point Insurance was created to provide individuals and businesses with security and rest of mind over their lives and property. They provide their customers with helpful information and insights to help them choose the best insurance coverage that suits their needs.
Contact Beacon Point Insurance at 816-254-6100 or visit their website to inquire about their home and auto insurance policies.
