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Homeowners insurance Details

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Replacement cost vs. ACV

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Liability Protection

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Fire Loss

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Theft

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New Home Discounts

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Detached Structures

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Bundle Discounts

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Damage from Storms

Your home is most likely the biggest financial investment that you’ll ever make. As such, you’ll need an insurance policy which will fully protect that investment.

But all homeowner insurance policies aren’t created equally. Some things to consider when shopping for home insurance include the following:

    Home Insurance in Valparaiso, Indiana

    Most lenders will require that you show some type of proof of insurance. But the type of insurance you purchase is up to you.

    There are typically three different levels of home insurance:

    Actual Cash Value (ACV) coverage offers the least amount of protection and, as you might expect, often has the most affordable premiums.

    ACV policies cover the cost of your house and the cost of your belongings in the house after deducting depreciation. The depreciation clause is important as it only provides the value of the structures and items at the time of the loss rather than at the time of the purchase.

    So, depending on the amount of depreciation assessed, it might be difficult to get back to a pre-loss condition without some out-of-pocket expenses.

    Replacement Cost coverage is one step above an ACV policy in that it doesn’t assess depreciation on your home or belongings.

    So with a Replacement Cost policy, you’ll be able to repair or rebuild your home up to the original value.

    Guaranteed Replacement Cost is the most comprehensive coverage and the policy which will also be the most expensive.

    This coverage guarantees the replacement of the home even if doing so exceeds the limits on the policy. So you’ll be guaranteed not to be underinsured in the event of a total loss.

    A standard homeowner insurance policy will cover the dwelling, the personal property within the dwelling, and personal liability in the event that someone has an accident or is injured while at your home.

    But there are additional coverages called riders or endorsements that should also be considered. These endorsements to your standard home insurance policy extend the coverage for certain types of property or peril. A jewelry rider is a common example.

    Oftentimes the base policy will set a limit on the amount of personal property that will be reimbursed from a loss. A rider can be purchased if the value of your jewelry exceeds the personal property limits of the base policy. Another common rider is for water backup coverage as this peril is often excluded in a standard home insurance policy.

    The best way to determine what type of insurance you should purchase and which riders you should consider is to ask a licensed agent in our office. We can assist you with assessing your home insurance needs and provide you with some quotes from several of the top insurance companies.

    Get A Quote For Your Home Insurance Today

    Our licensed staff is ready to help you get multiple Home Insurance quotes. Because we’re an independent insurance agent we can shop from multiple insurance companies to help you find the right coverage at the right price.

    Shurr Insurance represents the top-rated insurance companies in Indiana. We will compare pricing and coverage options finding you the best policy for your needs. Call us at: 219-462-1146 or click the get a quote button to have an agent start your quote.

     

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    Frequently Asked Questions

    Who needs homeowners insurance?

    If you have purchased a home, you need to purchase home insurance. While homeowners insurance isn’t always required, protecting your valuable asset is important. 

    How do I get a home insurance quote?

    Our independent insurance agency offers insurance from many top insurance companies. To get a quote, simply fill out a form below, or give one of our licensed agents a call.

    What does Homeowners insurance cover?

    Depending on the type of coverage you purchase, homeowners insurance can cover a multitude of claims ranging from protection of the property itself to liability protection.  To find out more about what coverage options are available browse our various business insurance products in the menu, or reach out to an agent for specific coverage scenarios.  

    How Much Is homeowners Insurance?

    The cost of homeowners insurance varies depending on the type of property you want to insure, how much it is worth and where it is located. In addition to how much coverage you’re requesting. Your premiums can also be impacted by the deductible you decide to select. To get an exact premium quote, request a quote from our office. 

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