What is homeowners insurance and what does is cover?

• homeowners insurance is the financial protection of your home structure and your possessions in it from natural disasters. A homeowners policy generally covers your home and the liability and legal responsibility you assume when an injury occurs on your property.

Are there different types of coverage offered?

• Yes. Insuring a home is different than insuring a condo or a rented property. Also, coverage varies completely by how much you want to buy. For example, some policies offer fire protection of your home under the homeowners insurance policy while many do not. Some disasters are covered, some aren’t. The type of homeowners coverage you want will be up to you.

Can you own a home without purchasing home insurance?

• Yes. It’s not like buying a car, but it is not recommended. If you use a lender, which most do, they will require you to have a homeowners plan. If you don’t, you are chancing your biggest asset to life’s disasters.

What factors affect home insurance policies?

• Age of house, type of construction, location, location, location. If you are far from a fire hydrant or a fire department, your home will be more expensive to insure. If you are in a tornado alley, a windstorm or hurricane zone, or surrounded by flammable brush, your home will cost more to insure.

How can you save on homeowners insurance?

• Raise deductibles
• Combine policies, such as home and auto with same insurer
• Make your home disaster resistant
• Make your home safer with alarm systems and motion detectors
• Seek discounts you qualify for
• Maintain a good credit score

Elliott Insurance Group is an independent insurance agency dedicated to providing you comprehensive homeowners insurance at an affordable price. Visit our virtual insurance office today to get a quote or call our office to talk with a dedicated agent.