Why The Right Coverage Counts When Protecting Your Home

Do you have enough homeowner’s coverage? Many people are underinsured, and when a disaster strikes, they aren’t prepared to cover the repair work expenses. You should have homeowner’s insurance on your property and there are many reasons why. A home is one of the biggest investments you’ll ever make, and you want to make sure you protect your investment in all the ways you can. The money you spend on your home insurance is well worth it in the event of a fire or other disaster in the home.  

There are several reasons why you want to check your homeowner’s insurance policy to make sure you have the coverage you want and need. Here are a few reasons you need home insurance. If you don’t have home insurance already, you can talk to a representative at the same place you get your auto insurance from or ask your realtor for a home insurance agent in your area. 

What Is the Coverage? 

Homeowner’s insurance covers damage to your home against unforeseen events, car crashes, fire, or weather damage. It provides financial compensation for the structure and the inside of your home. Most policies will require you to pay a deductible of up to $15,000 but will cover any damage above that amount. 

Coverage Differs from Policy to Policy 

Companies like Bear River insurance claim that most policies offer protection against vandalism, fire, and weather like lightning or snowstorms. However, earthquakes and floods are not usually covered unless you specifically purchase this type of coverage. 

Consider what kinds of damage your home could potentially sustain in the future. For example, if you live in an area that experiences frequent storms, you will want to make sure that you have the coverage you need to protect your home from storm damage. If there are large trees near your property, you will want to keep them in mind as well as what kind of coverage your property is in need of. Understanding more about the area you live in will help you prepare and find the right policy for your home. 


Your home is the most significant investment you will make, and insurance protects the value of the property and its equity. The equity is the worth over the mortgage price you pay. So, if something terrible happens, you won’t lose what you have invested. 

Disaster Help 

If a disaster destroys your home, your homeowner’s policy will usually pay you to relocate and reimburse for meals or hotels you need while the house is being repaired. So, if your home has a $200,000 policy with a loss of use benefit of $40,000 you will be compensated for needing to stay somewhere else. 

Asset Coverage 

Some policies protect against the loss of things inside the home. So, if there is a fire or vandalism, your insurance policy could help replace the items in your house, including your furniture and appliances. 

Some of these asset insurance policies either offer cash value or replacement costs. 

With homeowner’s insurance, should your home get broken into, your roof gets damaged in a storm, or you encounter a fire — keep in mind that most home insurance policies don’t cover flooding, so ask about this type of coverage in advance — you have the protection you need to make your repairs and recovery of items more affordable. You’ll pay a deductible but won’t have to pay for all the costs out of pocket, which gives you the financial security that you need. 

Liability Protection 

Be sure to get an insurance policy that protects you against lawsuits or bodily injury to anyone in the home. This coverage pays for your defense and court awards or medical bills. Did you know that if you have a guest at your home and they fall on your property or get another injury, you can be held responsible for the damages? Homeowner’s insurance protects you in the event of an accident on your property, so you want to make sure you have this type of protection, particularly if you have stairs leading up to your porch, a trampoline, or other potential hazards. 

If you have a mortgage, your lender will require you to have a homeowners insurance policy. However, it is essential you check your coverage to see what is covered. If your policy does not give you enough coverage, you will need to purchase additional coverage. Typically, homeowners’ coverage costs anywhere from $1,000 to $3,000 per year. 

Remember to let your home insurance agent know if you have dogs, a trampoline, dirt bikes, or other recreational vehicles, and other belongings that can potentially pose a hazard. This way, you have the added protection you need in the event an accident does occur on your property. 

Hopefully, you will never need to use your homeowner’s insurance, but it can save you money if you do. so, you want to make sure you have enough coverage. Keep in mind that some home loans require you to have home insurance in order to get approved for the loan, so you should have this type of protection for your property whether you live on the premises or not. Homeowner’s insurance premiums vary depending on the type of coverage you have, where you live, and other factors, so talk to an agent to see how much your own home will cost to insure. With the right insurance, your home will be well-protected and you can protect your investment better.