Home insurance policies are a necessary evil. They are there to cover your home and the belongings you have inside in the event that you experience property damage of any kind. While you may rest easy knowing that you have a homeowner’s insurance policy in the case that you need it, you may be surprised to find out that it may not be enough. InsureWise LLC is here to talk about why this may be so and let you know of other policies you may want to look into.
What Might Require Additional Coverages on a Homeowners Policy?
Not everyone has to worry about their insurance policy not covering property damage to their home when that happens. However, there are some homeowner’s that should consider adding on some additional coverage. Those would include the following:
– Anyone that has a home that would cost between $500,000 and $3 million to completely rebuild.
– If you have a custom-built home.
– If you own valuable collections, high-end appliances, custom cabinetry and other upgrades.
– There are substantial financial assets to protect.
– Your home has a higher-than-normal risk of exposure to disaster.
Upgrades Available to Home Insurance Policy
There are several ways that you can get the coverage that you need for your home in the case of a disaster happening. Following are some of the options that you can add to your current policy to ensure you have the coverage you need.
– Extended Dwelling Coverage: If you needed to completely reconstruct your home, there are costs that are often different than market value for your home. With this option, it will cover the rebuild of your home even if the construction and permitting costs associated with rebuilding change.
– Replacement Cost Upfront Coverage: If you wish to rebuild, but not in the same location, this plan will allow for you to do that.
– Personal Property Replacement Coverage: When you have significant damage to your property, you also more than likely lose some of your possessions in the process. When you have this plan, it can cover the cost to replace all of those items like jewelry, furniture, electronics and art.
– Personal Offense Coverage: This will protect you against any liability that could result in lawsuits or class action. This can cover you in a wide variety of ways including what you or your children may say on social media.
Homeowners Insurance Policies & More in Las Vegas, Henderson, Reno, North Las Vegas, Summerlin, Paradise, Spring Valley, Sunrise Manor, Enterprise, Sparks, Carson City & State of Nevada
You may not realize how important your homeowner’s insurance plan is if you haven’t ever had to use it. It can be a lifesaver when you are facing high costs due to property damage or anything else that can go wrong in your home. If you have outgrown your current coverage, you can call on the professionals at InsureWise LLC to help you find the right policy that will fit the needs of your home and family. Call us today!