For many, homeowners insurance is a necessity. It offers financial protection for your home, and understanding coverages can help you pick a policy best fitting your needs.
What's not covered by my insurance?
It’s essential to note, homeowners insurance doesn’t cover every peril that can potentially harm the structure of your property. For example, most policies don’t cover termite damages, as this is seen as something preventable by the homeowner with proper maintenance. Some perils such as earthquakes and floods need to be covered under separate policies.
What is covered by homeowners insurance?
Homeowners insurance typically offers liability coverage, dwelling coverage and coverage to personal property.
Homeowners insurance offers financial protection against these standard perils:
- Theft.
- Fire.
- Hail.
- Wind damage.
- Ice damage.
- Damages from public commotion.
- Etc.
Is homeowners insurance necessary?
Homeowners insurance isn’t a requirement - however, accidents frequently happen nationwide, and by purchasing a homeowners insurance policy, you add an extra level of security over your assets.
For example, a kitchen may be damaged by a fire. Home insurance would kick in after the deductible is paid to help pay for repair costs. In addition to paying for repairs, the policy type may also cover moving the policyholder and their household into temporary lodging as the structure of the home is being restored.
Consider examining the needs of your home and speak with a local insurance representative to understand what your coverage options are. They can help you choose a policy offering the best benefits for your home and belongings.
About the Author
Ryan Mandigo
Ryan Mandigo is an award-winning professional broker associate with Omni Real Estate. Originally a native of New Hampshire, his love of real estate began 30+ years ago while swinging a hammer on a framing crew. He has always had a strong passion for helping people, whether it be assisting a couple in purchasing their first home, finding a home that fits a growing family's needs, or downsizing for those with an empty nest. He strives to build strong personal and professional relationships with being a true believer in the power of positive thinking and always willing to lend a helping hand.
He is also a co-founder and board member of the Swing Fore the Kids organization. A local charity that is 100% nonprofit and their sole purpose is to help needy children and young adults within Horry County communities. He finds great satisfaction and pleasure in seeing how working hard for a great cause and raising funds can help others in need. He is also on the Board of Directors for the Waccamaw Youth Center in Conway, where their mission is to provide at-risk youth "A Place To Call Home"
When he is not working, he enjoys music, working around the home, spending time with family and friends, turning wrenches on vintage vehicles, getting some wind therapy on the Harley or chilling with their dogs.
Some quotes he lives by - "Do what you like and like what you do" - "You have to be odd to be number one" - "Dreams don't work unless you do" And one of his favorites. "Positive and enthusiastic thinking in all you do"
