Raleigh Homeowner Property Insurance Fundamentals
Raleigh Property Insurance is necessary because your home in Raleigh is one of the largest investments you'll ever make. Because it is so important both economically and emotionally you want to protect it and what you put into it.
Property insurance is designed to do just that - protect your investment. It's a contract between you and an insurance company. The insurance company agrees to cover losses or damages to your home from a variety of causes.
What is covered by your insurance is always spelled out in the contract. If it is not in the contract, it's not covered.
The insurance company's responsibility is to reimburse your losses. Your responsibility is to pay your premiums and do any other things required by the policy.
What does Your Raleigh Property Insurance Cover?
Most homeowner policies cover things like damage from fire, hail storms, lighting strikes, and wind. Some policies pay for a motel and meals if you have to leave your home while repairs are going on.
Some natural disasters are not normally covered. Earthquakes and flood damage often are excluded on a policy. To get protection from these types of damages, an additional policy is usually required.
If your Raleigh home is in an area that is close to flood planes, your mortgage company may require that you get additional coverage for flooding.
Besides natural disasters, most policies will also cover you against theft or property destruction by others. There'll also usually be coverage from lawsuits due to injuries that happen on your property and medical expenses that result from those injuries.
You can always add specific things to your Insurance policy that are not included in a basic policy. Some people add things like family heirlooms, computer equipment, or jewelry. Some people with a Raleigh Luxury home may add art and wine collections, or items found more often in Raleigh Estate Homes.
Always make sure you read your policy carefully to know what is and what is not covered. It's a good idea to review your policy on a yearly basis to see if you need additional coverage for things you may have acquired during the year or for appreciation in the value of your home.
Insurance policies can differ between states. So, if you're moving to Raleigh from another state be sure to ask your insurance company for state specific coverage that may be required in North Carolina.
If you have questions about insuring your Raleigh Home or information on any Raleigh Homes
Email Us or Call Us Today at 919-280-2726
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Content By Erin Bohner
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