The Basics of Homeowner’s Insurance

Monday, November 16, 2015 | 8:59 pm

Stewart Insurance AgencyHome ownership is a huge financial undertaking. When the hot water heater breaks you have to replace it, if the basement floods you pump it out. If a tree falls on your house you are responsible and that is why you need insurance.

Homeowner’s Insurance will cover the cost to rebuild your house, just like car insurance will replace your vehicle. It’s important to make sure that you have enough insurance to cover your specific home. But, since it can be hard to estimate the value of your home, an insurance agent is the best resource to make this determination.

Homeowner’s insurance isn’t just for houses; it can also cover your belongings. What if your roof caves in over the study and you kept all of your computer equipment in? Homeowner’s insurance will make the difference between being able to replace it or not. If you have expensive items, such as art or antiques, you may need extra insurance, called a rider.

If you have a mortgage you are required to carry homeowner’s insurance. The banks require this in order to make an investment in your homeowner’s needs. Liability coverage is an important part of insurance. If the mailman trips in your yard and breaks his leg the liability portion of your insurance will cover it.

Homeowner’s insurance is a necessary part of homeownership. It keeps your investment safe in the case that accidents happen.

If you have more questions, consider Bill Stewart of Farmers Insurance. He is located at 1030 Foothill Blvd. in La Cañada Flintridge. You can reach him at (818) 790-3700. You can visit him at www.billstewartins.com.

 

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