Whether you own or rent, insuring the place you call home can help protect you financially if you suffer a loss due to fire, theft, vandalism, or other covered events. It will also cover you in the event someone is injured while on your property and wins a legal judgment against you.
Homeowner insurance policies differ by which losses are covered, which coverages you choose, and what type of residence you own. You choose which policy is best for you, whether it’s a comprehensive policy that cover losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or whether it’s a policy that covers only specified losses.
Whether you’re a home or condo owner, a renter, or a landlord, we will work with you to find a Massachusetts homeowners insurance policy that fits your needs. We specialize in making it easy to choose the insurance coverage that gives you the best value for the best price.
Your homeowners insurance policy is most often made up of the specific options you choose. How much you’ll pay for your policy depends on:
- Options you select – Often home owner insurance options are priced individually, so how much you’ll pay for your policy depends on what coverages you buy.
- How much you want to cover – Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
- Where you set your limits – You may choose to set higher limits than the recommended amount if appropriate to your situation and needs.
Worried you aren’t completely covered? Consider an umbrella insurance policy that extends your coverage.
The Right Coverage. The Right Price. The Right Value
The amount you pay for your home owners insurance depends on many factors. Think of your personal housing situation, and the assets you want to protect.
- Protection for Your Home – Property or Dwelling Coverage typically pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a kitchen fire or windstorm.
- Protection for You and Other People – Personal Liability Coverage applies if someone is injured or their property is damaged and you are to blame. The coverage generally applies anywhere in the world. When choosing your liability coverage limits, consider things like how much money you make and the assets you own. Your personal liability coverage should be high enough to protect your assets if you are sued.
- Medical Coverage – This covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household.
- Additional Living Expenses – If you can’t live in your home because of a covered loss, your home insurance policy will pay additional living expenses (commonly for up to 24 months) while damage is assessed and your home is repaired or rebuilt.
- Protection for Your Belongings – Your home is filled with furniture, clothes, electronics and other items that mean a lot to you. Personal Property Insurance helps replace these items if they are lost, stolen or destroyed as a result of a covered loss.
- Scheduled Personal Property Coverage – If you have special possessions such as jewelry, art, antiques or collectibles you may want to talk to your agent about this additional coverage. It provides broader coverage for specific items.
- If You Rent Out Your Home – Landlords may have the option to buy optional liability coverage for the risks posed by tenant-occupied dwellings.
Protect the Things that Matter to You
Make an inventory of your home and personal belongings. If possible, make a list as well as take photos or video – using two inventory methods can help expedite the claim resolution process. Keep this list somewhere other than your home. Keep in mind that your policy doesn’t cover damages caused by poor or deferred maintenance on your part.
Every home is unique. Talk to us today to find out how to get the best price and value on Massachusetts home insurance for you.