Think about the biggest purchase decisions you will make in your life; the choice to buy a house is probably among them. Once you decide to take the step of home ownership, you must realize that your property will represent as much of an investment as it does a home. You have a duty to protect it with quality homeowners insurance. 

For assistance getting the customized homeowners insurance that is best for you, contact, Arnold Bruce & Doerfler Insurance at (503) 222 – 1951 or click here for your free quote. 

 

Common Homeowners Insurance Questions 

Why is home insurance important? 

Think of how much your home means to you. It’s an investment, first, but it’s also your haven and a place of security for your family and possessions. 

Still, though you don’t want anything bad to happen on your property, the fact of the matter is that you cannot prevent every accident that might occur. You face countless risks as a homeowner, which include risks of fires, severe weather, lawsuits, theft or vandalism. These mere threats could become costly realities in the blink of an eye.  

It is after these problems arise that you should be able to file a claim on your home insurance. Your personal cost burden for your recovery will be significantly less than trying to pay out of pocket. 

What is covered under home insurance? 

Homeowners insurance is designed to help you cover costs of unexpected, unavoidable losses that occur on your property. It will include several different benefits designed to target unique loss scenarios: 

• Structure Protection: This insures your house in the event of damage from fires, weather, theft, vandalism or other hazards.

• Detached Structures Coverage: Other buildings on your property – such as fences, carports, gazebos and detached garages - will have coverage.

• Possessions Insurance: This pays for damaged belongings. Protection might cover everything from furniture to food in the pantry and computer systems.

• Liability Coverage: If you accidentally harm someone else or damage their property, use this coverage to repay them. Coverage will often pay for incidents both on and off your property.

• Additional Living Expense Protection: Do you need to move out temporarily after household damage? Let this coverage reimburse you for expenses like dining or hotel bills.

Other supplementary coverage that you might need includes: 

How is home insurance calculated? 

Each component of your homeowners insurance will include different coverage limits, deductibles and other terms that will influence how much you are going to be paid for a qualifying claim.  

At minimum, you want to have enough coverage to completely rebuild your home following a total loss. By working with your agent, you can determine exactly how to tailor the coverage limits within your plan to ensure you receive the maximized benefits for your particular needs. 

How far in advance can I buy home insurance? 

Homeowners insurance is generally required by mortgage lenders if you plan to finance your home, so you usually will have to obtain coverage if you want to receive final approval from your loan application. Therefore, it always helps to start looking for home insurance as soon as you start the closing process. 

How much does home insurance cost?  

Numerous factors can influence the cost of your home insurance, including: 

However, there are numerous ways to reap cost benefits from your policy, including through discounts. Plus, you only want the coverage you need, not benefits (that you have to pay for) that will be of no real help to you. Our agents are here to ensure that you can maximize your cost benefits by helping you tailor your coverage to your unique advantage.