Your home is by far your largest asset.  You’ve worked hard to purchase it and it provides your family safety and comfort.  The insurance you place on your home should help secure your financial investment in event of a claim or catastrophe.   It pays to understand and purchase the correct coverage for your most valuable possession.

   At Woodcrest insurance we will help you understand how to value your homes replacement cost and the coverage to fit your lifestyle as well as your pocketbook.  We represent several well-rated companies that offer great protection at affordable rates.

 

The following are some common coverage definitions for home insurances:

Dwelling Coverage:    A good policy will pay to rebuild you home in a disaster.  Replacement cost coverage will do that even if it cost more than your home is insured.  A policy will protect you from most perils such as fire, wind, hail, falling objects, vandalism, and water from a broken pipe.  You choose a deductible.  The higher the deductible the cheaper the premium.

Contents:   A great majority of losses are from burglaries; your personal contents are everything from your furniture to your kids’ football.  A complete home inventory is a great tool in  deciding how much you have and then how much to protect.  A policy will generally cover your contents for the same perils as the dwelling.

Other Structures:   Detached garages, sheds, fences anything other than your main home is covered from the same perils.  Usually the coverage is a percentage your dwelling amount.

Liability:  Worried about that swimming pool or swing set, or perhaps your still correcting that golf slice, either way when someone is hurt through your actions or on your property, chances are the liability coverage will pay other’s medical bills, pain, suffering or even death. Consider having enough coverage to protect you home value and other assets altogether.

Medical:   If someone is hurt on your property even if your not negligent, your policy will generally pay their medical bills.

Earthquake:   Here in California earthquakes are a real threat, the equity in your home can be threatened by the damage cause from an earthquake.  This coverage must be purchase in addition to your home insurance.  Deductibles can be high but worth the peace of mind.

Flood:   Generally flood coverage can be purchased through the National Flood Insurance Program from providers set up to administer policies that include home and content coverage. Rates are determined by the type of flood rating your house is given

Scheduled Personal Property:   Or floater can pay for high valued items or from perils that your policy restricts,  a wedding ring, stamp or coin collections, furs, computers  or other valuable can be insured for their full value and even if they are lost.

Depending on your policy other coverage can be purchase.   Home Business, golf carts, home day care, rental property are just some of the extra protection you can ad for your home policy.