Are you a new homeowner? Congratulations! You want to protect your investment properly, but you may not be familiar with home insurance. Here are the basics, so you can select the right coverage for your property.

Why You Need Home Insurance

Owning a home is a big investment. If something were to happen to your home, like a fire or damage from a severe storm, would you have the funds to cover major repairs or rebuilding? For most folks in West Virginia, the answer is no.

Fortunately, home insurance can cover you if the worst happens, so you don’t have to lose your investment or go bankrupt trying to cover catastrophic expenses. Home insurance gives you broad coverage for a very reasonable cost, and it’s probably required by your mortgage lender.

What Home Insurance Covers

Home insurance policies typically cover five elements:

• The structure itself and its basic systems (roof, foundation, walls, electrical, plumbing, etc.)
• The contents of the home, such as furniture, decor, electronics, appliances, clothing, and personal items
• Liability in case someone is hurt on your property (e.g., a slip-and-fall injury)
• Liability for you and your household members anywhere in the world (e.g., if you accidentally damage a hotel room while on vacation)
• Additional living expenses in case you need to live elsewhere because damage to your home makes it uninhabitable

How to Get Even More Protection for Your Home and Belongings

You can add extra protection to your home insurance with these additional types of coverage:

• Scheduled coverage of valuables like jewelry, furs, precious metals, collectables, firearms, art, and antiques
• Earthquake and flood insurance for natural disasters not covered by home insurance policies
• Personal umbrella insurance to increase your liability protection (ideal for high net-worth individuals, people with lots of visitors, and dog owners)

Deductibles Explained

Your home insurance deductible is an amount you pay out of pocket if you file a claim. Insurance deductibles prevent people from filing fraudulent or frivolous claims because they have to pay on average $500 to $2,000 towards repairs or reconstruction.

You can usually reduce your monthly, biannual, or annual insurance premiums by selecting a policy with a higher deductible. A lower deductible has the opposite effect: you’ll pay a bit more for your policy.

Let Us Tailor a Home Insurance Policy to Your Needs

Our independent agents have many more home insurance options for you than you’ll find with big companies, which lets us customize your coverage. And you’ll get the advantage of personalized service from agents who are a part of your own community.

Call Wickline Insurance at 304-252-1483 to learn more or start your home insurance policy online today.