Frequently Asked Questions
Is homeowners insurance the same as home insurance?
Technically, homeowner’s insurance is the same as home insurance. But homeowner’s insurance can cover far more than the structure of your house, as home insurance does.
Besides the usual coverage provided for your home, the homeowner’s insurance policy also protects any individual who faces an accident at your property. Likewise, if you happen to cause damage to your neighbor’s property unexpectedly, a homeowner’s insurance policy can provide coverage for the same.
Does homeowner’s insurance provide any benefits or alternatives in cases of damage to my house that cannot be immediately fixed?
It’s best to check with your insurance provider. But insurers can usually provide you with additional living expenses if you cannot live in your home right after an incident that has caused partial or complete damage to your house
What factors do I need to look into before talking about the cost with my homeowner’s insurance agent?
Before finalizing premiums and prices to get your home insured, you should have a brief idea of some factors determining the cost of getting homeowner’s insurance. The most common ones are listed below:
- Price, Age, Size of the Property
- Number of People Residing
- Amount of Coverage
- Amount of Deductibles
- Level of Maintenance
- Risk Level of the Area
- History of Claims
- Number of Protective Devices
You can find more details through our guide to get the best homeowners insurance.
How long do I get insured for once I purchase a homeowner’s insurance policy?
You’ll generally get insured for a year. However, for renewals, you need to consult with your agent beforehand. Not to mention, you should also pay your insurance premiums on time to be eligible for the renewal.
Does my homeowner’s insurance policy cover renovated or added structures?
It depends. When you renovate an existing structure or add-on another one, for example, a garage or a swimming pool, you’ll obviously need extra coverage. For individualized details, do check in with your insurance agent on time.