Overview of Homeowner’s Insurance for New Buyers
You’ve just invested in your first home and want to ensure you have the right insurance coverage. Our Brock and Poole Insurance Agency agents can help you obtain the necessary information to cover your new Collierville, TN, home.
Why the Necessity of Homeowners Insurance?
When you purchase a homeowner’s policy, you protect your home and personal belongings from unexpected issues. The policy also provides liability coverage in the event of an injury sustained by someone while visiting your property.
While it may seem the cost of a policy is expensive, you do not want to cut back on coverage that may be needed in the future. Even if you own your home outright without a mortgage, it is still recommended that you purchase insurance. Without homeowner’s insurance, you are financially responsible for all costs if your home is damaged.
If you have a mortgage, check with your lender, as the insurance premium costs may be included in your payment, placed in an escrow account, and paid to your insurance provider.
Ask Our Agents
Our agents will thoroughly explain homeowner’s insurance, such as how coverage is based not on what you paid for your home but on what it will cost to rebuild. You will also want to know the difference between an Actual Cash Value (ACV) policy (less expensive) and a Replacement Cost Value (RCV) policy (more expensive).
Policies usually include dwelling coverage, personal property coverage, and liability protection, and they provide additional living expenses if your home is unlivable due to damage.
Also, ask about maintenance coverage, detached structures, and whether your home’s location affects coverage.
Contact Brock and Poole Insurance Agency
With a call to our Brock and Poole Insurance Agency, you can be assured of receiving the insurance information needed to protect your Collierville, TN home.
