The next step after finding that perfect home is purchasing home insurance to protect it. Home insurance will cover the cost of home repairs if your structure is damaged by fire, hail, lightning strikes, blizzards, and other disasters. You can also obtain coverage to protect you against liability claims and safeguard your belongings. Here’s how a standard home insurance policy from Wellspring Insurance Network Inc. can protect your Frederick, MD home and other valuable assets.
Dwelling insurance covers the cost of repairing damage to your structure in the event of a catastrophe. Natural disasters like hurricanes, tornadoes, and winter storms are common in Maryland, putting homeowners at risk of damage to their property. Dwelling coverage can help you recover quicker from a disaster. For protection against flooding, however, you’ll need to purchase a separate flood insurance policy.
Property insurance covers your belongings to include shoes, clothing, jewelry, furniture, electronics, and appliances. Actual cash value coverage will help pay for the value of your items minus depreciation. Replacement cost coverage will cover the entire cost of replacing your goods (minus your deductible) if they’re stolen or destroyed in a disaster.
Liability insurance protects you against a lawsuit if a visitor has an accident on your property. Backyard BBQs and dinner parties may be a lot of fun, but they also pose the risk of someone having an accident on your property, especially when serving alcoholic beverages. Liability insurance covers the cost of injuries so you don’t have to. If you’re sued for damages, liability helps pay your legal costs, up to the limits of your policy. The more liability coverage you have, the greater your protection against a lawsuit.
For greater insight into home insurance options and costs, call or visit Wellspring Insurance Network Inc. in Frederick, MD.