As a homeowner, one of the most important investments is your home insurance. But there are many gaps in home insurance coverage that homeowners don’t realize. Here are some areas where you might be overlooking your home insurance.
More than Mortgage
Often the first step taken in home insurance is to get coverage for the mortgage. Although a home’s mortgage can easily exceed eighty percent of the home’s value, this type of home insurance won’t protect you in the case of a disaster. You will need to look at other types of insurance policies that cover specific situations. Also, you should definitely talk to an insurance agent about certain policies that will protect you against inflation, like extended or guaranteed replacement cost coverage.
A big example of specific instances where you might not have automatic insurance coverage is a flood. Flood insurance is not included in standard home insurance policies. So if your home is near any body of water, then you should talk to your insurance agent. You never know if hurricane season can send a flash flood into your neighborhood.
Another place that people don’t consider insuring is for sewage issues. It might not seem like something that needs insuring, but you would be surprised at the costs involved in sewage backup and sewage tank issues in your home. Likewise, you can look into insurance for water damage and mold, which even flood insurance on its own might not cover.
Extended Property Coverage
With home insurance comes the opportunity to add coverage for your personal items. This can include valuables, like jewelry and family heirlooms, and even pets. Getting insurance coverage for your property will help you recover the damages from a burglary.
Get in Touch with Wachter Insurance
Whether you need homeowners’ insurance or auto insurance, our team at Wachter Insurance Agency, Inc. is here to help. We offer all of our clients competitive rates, professional customer service, and a huge range of policies to choose from for your needs. We have been serving Maryland, West Virginia, Virginia, Pennsylvania, and the District of Columbia since 1969, and we would love to help keep your home and family safe every day of the year. For more information, give us a call at (301) 371-6335 or visit us online. For more blogs like these, follow us on Facebook, Twitter, and Pinterest.