Owning a home can be rewarding experience that allows you to create a space for you and your family that is entirely your own -personal sanctuary for you and your loved ones. However, there are many concerns and responsibilities that come with owning a home. Arguably one of the most important of these concerns is adequate insurance for your property. These concerns can typically be lumped into two types: unique home concerns and specific environmental factors.
Unique Home Concerns
These kinds of criteria tend to be about your physical house and property. They include (but are not limited to):
- Occupancies (owner and seasonal) -whether you live there year round or if it’s a vacation home
- Value -is it in a wealthy neighborhood? In a geographically-desirable location?
- Valuation -purchase price/market value are contributing factors
- Age of Home -how old it is, or how it has been changed or updated will also be important to know
An insurance specialist can work with you and help you determine what kind of specialty homeowners insurance you may need based on these intrinsic characteristics.
Specific Environmental Factors
Specialty insurance services can also cover some of the external factors of your home. Your location, proximity to airports, neighborhood crime rates, pets, and the likelihood of you experiencing natural disasters are also issues that need to be considered. Some of these concerns include:
- Animal Injury Liability
- Natural Damage (fire, lightning, windstorm, hail, etc.)
- Destructive Damage (smoke, riot, commotion, malicious mischief, burglary, glass breakage, explosion, damage by aircraft or vehicle, etc.)
Whatever your concerns for your home may be, specialty liability insurance can most likely help you address them and give you the peace of mind you and your family deserve. Consult an insurance professional for guidance, and be sure that you’re prepared for any eventuality.