Homeowners Insurance

For many homeowners, a house is one of the largest purchases they’ll make in their lifetime. Your home’s value is an important part of your overall financial health, and homeowner’s insurance is one way to get targeted protection.  

The agents at Miller Farrell Insurance Agency are homeowner’s insurance experts. Whether you’ve owned your home for years or are a first-time homeowner, let us help you get the policy you need at a fair price.  

Common Homeowners Insurance Questions  

What is Home Insurance?  

Homeowner’s insurance is a contract between the owner of a home and the insurance company. The homeowner pays insurance premiums in exchange for coverage. If an unexpected event like bad weather, fire or a break-in occurs, the insurance company helps the homeowner pay for necessary repairs. If the home is a total loss, homeowner’s insurance can alleviate the financial strain of rebuilding.  

What Does Home Insurance Cover?                                                                                                                          

Your homeowner’s insurance may include specific coverages to help protect your investment in your home:  

• Liability coverage: If someone is accidentally injured on your property or if you accidentally harm someone else or damage their property, liability coverage may help pay their medical bills or for repair or replacement of their property. 
• Structure protection: This helps insure your house if it is damaged or destroyed due to events such as fires, theft, weather, vandalism, or other hazards. 
• Possessions insurance: This coverage helps pay to replace your damaged belongings after a covered event. Depending on your policy, it may cover everything from food to computer systems. 
• Detached structures coverage: Buildings on your property other than your home, including a detached garage, gazebo, fence, or shed are also generally also covered. 
• Additional living expense protection: After a covered event, you may need to temporarily move out of your home to allow for repairs. This coverage helps reimburse you for related costs such as hotel bills and dining out.  

Many homeowners choose to customize their coverage with unique options such as:  

• Flood insurance 
• Scheduled items riders 
• Replacement cost value possessions coverage 
• Umbrella liability insurance 
• Earthquake and windstorm endorsements 
• Pet liability insurance  

The homeowner’s insurance experts at Miller Farrell Insurance Agency can help you choose additional coverage to help you get the protection you need.  

How much home insurance do I have to buy?  

In most cases, mortgage lenders require proof of homeowner’s insurance before they approve a loan. In general, you’ll need enough coverage to provide for your home’s replacement cost.  

Replacement cost insurance provides you with enough coverage to replace your home and possessions, while cash value insurance reimburses you for your home’s current value, which may be much less than it would cost to rebuild.  

What Does Home Insurance Cost?  

Multiple factors could influence the cost of your home insurance, including:  

• Your home’s value
• Your credit score
• Your home’s location
• Security features
• The policy and coverage limits 

At Miller Farrell Insurance Agency, our agents are committed to the financial success of our clients. We’ll help you get a customized policy that is perfect for your needs. Get the coverage you deserve at an affordable price. Contact us today for a quote.  

 

Related Products:

Property Insurance

Homeowners Liability

Renters Insurance