home insurance policy

When you’re getting Atlanta home insurance, you might have a lot of questions about what’s covered and what’s not covered. Home insurance doesn’t cover everything. (Which is why it’s important to read your home insurance policy carefully and comb through it with a fine-toothed comb.) Anyways, we’ve compiled a list of seven home insurance FAQs to give bite-sized answers to some common home insurance questions.

Atlanta home insurance questions

1. Am I covered if there is heavy rain and water seeps into my basement?

Flooding is not covered by home insurance. (And by flooding we mean a rapid and unusual accumulation of water on the ground where there is usually not water.) So, if your area is hit with some heavy rain and some water infiltrates your basement, creating a big soggy mess…unfortunately, it’s not covered.

You can, however, purchase a separate flood insurance policy, which can cover flooding and surface water from heavy rain. You can get flood insurance through an agent from the NFIP (National Flood Insurance Program) so that your house can be protected from flood-related losses.

2. If my sump pump fails, am I covered?

Home insurance policies usually exclude sewer backup and sump pump failure. However, you can add a sewer backup endorsement to your home insurance policy so that this kind of loss can be covered. (Sewer backup is not something that is very pleasant, so you may want to think about adding this coverage to your home insurance.)

3. Is my boat covered?

If boat theft occurs away from your residential property, no, the loss would not be covered by home insurance. You would need a boat insurance policy to cover the vessel and any accessories you have for it.

4. If my neighbor’s tree falls through my fence and ruins it, does their insurance pay for it?

No. Your Atlanta home insurance, though, should cover the claim. If it’s your fence or your home that gets damaged by your neighbor’s tree, your home insurance would be the one paying the claim, not theirs. Now, if your tree fell through your neighbor’s fence, the neighbor’s home insurance would cover it.

(However, if your neighbor’s tree falls as a result of their negligence, it’s possible that your insurance company could subrogate against the neighbor’s home insurance company to get your deductible back.)

5. Do I really need to take a home inventory?

It’s definitely a good idea to take a home inventory (which is basically a list of all your belongings, room by room.) First of all, it’ll help you know that you have enough home insurance to cover all of your belongings. Your inventory will also help if you have to file a home insurance claim because you’ll know exactly what needs to be replaced. And you’ll also have a bit more proof for your insurance company that you’ve lost what you’ve said you’ve lost. (Insurance fraud is a big deal.)

6. If my iPod is stolen from my car, is it covered by home insurance or car insurance?

Well … neither.

Most home insurance and auto insurance policies specifically exclude sound transmitting equipment (yes, including iPods) that are used in cars. So, if your iPod or sound equipment gets swiped from your car…unfortunately you might be out of luck. (You may, however, be able to add extra coverage to cover this sort of loss, but you’d have to talk to your agent to find a solution.)

7. How much home insurance do I need?

Ideally, you should have enough Atlanta home insurance to completely rebuild your home from the ground up, cover all of your personal belongings, and cover your liability. When you’re getting home insurance, it’s important to make sure that your limits of coverage are high enough to fully protect you from a loss.

These are some common questions about home insurance with convenient answers in bite-sized form. As always, it’s important to read your home insurance policy carefully to find out what it will cover and how it will protect you. And ask questions if you need to – questions are great!

If you need Atlanta home insurance quotes, we can help. Our agents can get you multiple home insurance quotes all while making insurance as easy as possible. To get started with your quotes, fill out our online form or give us a call.

Ugh. Something does not smell good. What could that be? As your nose informs your brain that something is definitely not right at your place, you start to fear the worse – that your sewer has backed up or your sump pump has failed. And now you have a big mess on your hands – a big, expensive mess. It’s going to take a lot of work to get everything cleaned up and back to the way it’s supposed to be. Now your question is this – does Atlanta home insurance cover sewer backup? We’ll explain. And we’ll also give you some tips for preventing this smelly problem in the first place.

Does home insurance cover water that’s backed up through the sewer?

Typically no. Atlanta home insurance won’t cover damages from water that’s backed up from a sewer or drain. It’s one of those things that’s usually excluded from most home insurance policies.

However, you can add an endorsement to your home insurance policy so that this sort of unfortunate occurrence can be covered. (An endorsement being an addition or alteration to your home insurance coverage.) For an additional premium, you can get an endorsement that will cover water backup from the sewer and sump pump discharge.

The endorsement can cover:

1. Water or waterborne materials that backs up through a sewer or through a drain.

2. Water or waterborne materials that overflows from a sump even if the overflow or backup is from a mechanical failure of the sump pump. (The coverage will typically include damage to covered property, but it may exclude the sump pump itself and related equipment that has broken down.)

So, that’s an easy way to get coverage for sewer backup so that if you’re every faced with a smelly, icky sewer-related situation you could be covered. This kind of claim can be very expensive to clean up, after all.

What is not covered by the sewer backup coverage endorsement?

There is an important caveat to this coverage. It will usually not cover losses that result from owner negligence, like forgetting to turn on the sump pump. It will also typically not cover damages caused by a flood. So, keep that in mind when you’re getting sewer backup coverage.

Tips to prevent sewer backup coverage.

So, while you can get coverage for sewer backup, you can also take steps to prevent this from happening in the first place. Plumbing is one of those things that we take for granted until something goes wrong. Check out the following tips that can help you prevent a sewer backup.

1. Don’t flush anything other than toilet paper down the toilet.

2. Don’t wash grease down the drain. Wait for the grease to cool and then throw it away with your regular garbage. (Grease can solidify as it cools, which can clog up pipes.)

3. Don’t wash oils down the drain – these can cause buildup in your pipes.

4. Remember that shrubs and trees can make their way into cracks in the sewer line. These cracks can allow debris to build up. If you keep having problems with tree roots, you might want to think about replacing your line with a plastic pipe.

5. Maintain your sewer system by having a trained, trustworthy professional give it a routine inspection.

What if I have water in my basement?

If you have water seeping into your basement, your problem might not be a sewer backup problem. It could be from poor soil grading around the exterior of your house. It’s really important to make sure that water drains away from the foundation of your house so that it doesn’t run straight into your basement, infiltrating your home and causing water damage.

So, that’s what you need to know about sewer backups and your home insurance. Sewer backup or sump pump failure is typically not covered by Atlanta home insurance, but you can add an endorsement for sewer backup coverage so that you can be protected against this type of loss. But it’s also important to take steps to prevent sewer backup in the first place. We often take our plumbing for granted, but sometimes things go wrong. And that’s where sewer backup coverage can save the day.

If you want to get quotes for your home insurance, we would be happy to help. Our team of insurance agents can help you get multiple quotes, and we’d be happy to talk about your coverage needs and answer your insurance questions. To get started with your quotes, fill out our online quote form or give us a call today.

When you’re shopping for home insurance policies, a lot of people don’t know that there are actually different types of policies available to them. Each type of homeowners’ policy has its pros and cons. The home insurance policy that your neighbor has may not be the best one for you. Here, we’ll go over the most common homeowner’s insurance policy in the U.S. – the HO-3 insurance policy. Find out what it covers and if going this route is best for your Atlanta home.

What is an HO-3 homeowners insurance policy?

An HO-3 insurance policy is a type of homeowners insurance that will cover your home and belongings within certain named perils and open perils restrictions. This may seem confusing if you have no idea of what named perils or open perils are. So, here’s a quick rundown:

What is a named perils policy?

Most insurance policies, regardless of the type of property it is, will have a list of certain disasters and events that your home can be damaged by. If your home or something in your home is damaged by something on that list, it is covered, and your insurance company can help you with the costs that it will take to repair or replace that item. If something is damaged by an event that is not listed, then you’re left covering the cost of the repairs yourself.

Some named perils that are usually found on most home insurance policies:

• Fire & lightning damage
• Wind & hail damage
• Damage due to the weight of snow or sleet
• Accidental discharge from plumbing or air conditioning (which does not include flood damage)
• Smoke damage
• Explosions
• Freezing
• Volcanic eruption
• Theft
• Vandalism
• Riots
• Vehicle damage (i.e. if someone hits your house with their car)
• Falling objects
• Sudden and accidental damage from electrical currents

What is an open perils policy?

On the other hand, an open perils policy can cover any disaster you can imagine except specific exclusions. So, anything that is listed on an open perils policy is not covered by your insurance, and you would have to pay for the damages in that instance.

So, what’s covered under my HO-3 policy?

The certain items and structures covered under your HO-3 policy will depend on your specific policy and what your carrier usually covers in their particular plans. Still, these are the general types of things that an HO-3 insurance policy will cover.

Your actual house

You have a homeowner’s policy for a reason – to protect your house! So, any type of home insurance is going to cover the actual structure of your home if it’s damaged by a covered peril. Most HO-3 policies will cover the replacement cost of your home instead of the market value, which is great. The replacement cost is how much it would cost to rebuild your home from the ground up if it were destroyed by something like a fire.

The replacement cost of your home might be about the same or more than the market value of your home, especially if you’ve done some renovations since you’ve bought your house. However, it’s important to look over your policy so you know which one you’re insured for.

Your belongings

An HO-3 will also usually come with personal property coverage to help with the cost of replacing your stuff. However, it’s important to make sure you have the type of coverage that fits your needs. You’ll also want to make sure that you take a home inventory of all your belongings to make the claims process and recovery of your items as easy as possible.

Most policies will insure your things for their actual cash value (ACV) instead of the replacement cost value (RCV). Actual cash value accounts for depreciation of your items over time. So, if you have an oven that you paid $900 for 5 years ago, ACV coverage may only reimburse you for a depreciated value of $600. If you want to make sure that your insurance can help reimburse you for the RCV of an item, make sure you talk to your agent about the type of personal property coverage that comes with your HO-3.

If you have a lot of expensive jewelry, artwork, or special collections, you may also want to purchase a rider to your policy that will specifically cover these items.

Liability

An HO-3 insurance policy will also cover a certain amount of liability that you have as a homeowner if someone is injured on your property. The liability portion of your home insurance can help you cover the cost of the injured person’s medical bills and the cost of any legal fees should that person decide to sue you..

Other Structures

The other structures to your home are also normally covered by an HO-3 insurance policy. Depending on your carrier and specific plan, this can mean that spaces such as pools, guest houses, sheds, detached garages, fences, and more are covered under your home insurance.

Expenses if you can’t live in your home while it’s being repaired

HO-3 policies can have clauses for loss of use expenses, or additional living expenses, if you’re not able to live in your house due to a covered loss. If you have to stay in another house, an AirBnb, or an extended stay hotel while your home is being repaired, housing and food bills can start to pile up. So, with the right home insurance policy, your carrier can help reimburse you for the additional costs you’ve gathered by not being able to use your home.

It’s vital to understand, though, that your insurance will only help you pay for additional costs of living while you’re away. For example, if you spend $250 in groceries for a typical week, and you have to spend $300 per week on fast food or restaurants while your house is uninhabitable. Your insurance can only reimburse you for the additional $50, not the full $300. This is why it’s also important to keep track of any receipts or bills you have while you’re away. Then, you can show your insurance company exactly how living away from your home has affected your everyday costs and get reimbursed for the proper amounts.

So, this is the general rundown of how an HO-3 policy works. Keep in mind that the HO-3 policy is just the most common home insurance policy in the U.S. That doesn’t necessarily mean it’s the best plan for you. There are also HO-5, HO-6, and a bunch of other types of homeowners policies that offer more or less coverage than an HO-3. That’s why it’s important to shop around for coverage and ask your agent what type of insurance will be best for you.

Our insurance agents are professionals at identifying your specific risks to find the home insurance coverage you need at the lowest prices. Call us today or fill out our online form to start getting multiple, free quotes on the proper insurance for your home.

When you’re shopping for Atlanta home insurance, you may be tempted to go for the cheapest option. After all, you’re spending tons of money on your mortgage already. So, you may wonder if you can insure your home for its market value instead of its replacement cost. What’s the difference, anyway?

What is market value?

Insuring your home for its market value would mean insuring your house for the amount that someone would pay for it in the current real estate market. This includes the land that your property sits on and only the finished product of the house itself. We’ll tell you more about why that’s important in a moment.

What is replacement cost for home insurance?

Your home’s replacement cost is different than its market value. If your insurance policy covers the replacement cost of your home, it’s saying that your insurance can help you cover the costs of actually rebuilding your home from scratch.

So, what’s the actual difference?

Insuring your house for its market value would mean that your insurance may reimburse you for the amount that someone would pay for your house if they were buying it from say, a real estate agency. Insuring your house for its replacement cost means that your insurance can help you with the cost of everything that it takes to rebuild your house – materials, construction labor, etc. (Of course, read your policy carefully to find out what costs are covered.)

Keep in mind that the market value and replacement cost for your home are different than the Actual Cash Value (ACV) or Replacement Cost Value (RCV) on your home insurance policy. These terms refer more so to the personal belongings inside of your home rather than the house’s structure. So, it’s important to have the right amount of coverage for your belongings in your home insurance policy as well.

Why should I insure my house for its replacement cost value?

Here’s the deal – on average, the cost of a modest house in Atlanta proper (not in an Atlanta suburb like Roswell, Stone Mountain, or Douglasville) is about $250,000 to $300,000. The cost to construct or reconstruct a house of a similar size is about $500,000 – and that’s not including the cost of labor for your construction team, your electricians, your plumbers, or other workers that have to make sure the house can actually stand and function for you.

Plus, depending on the company, the average time to rebuild a house is about 7 months, and the company could charge by the hour or by the job. That’s also not to mention the fact that you’ll have some additional living expenses to handle while you’re unable to use your home (i.e.: restaurant bills, lodging, travel costs, etc.)

That means that if you’re only insuring your house for its market value, you could end up spending over $250,000 extra dollars on rebuilding a home that cost you or is only worth about $250,000. (Almost double the worth of your house.) So, only insuring your house for its market value may not be the best strategy, unless you have that kind of money lying around.

Also, make sure your agent is up to date about the changes you make to your house.

Any improvements to your home, including additions, pools, finished basements, and more, could add both market and replacement value costs to your house. That’s why it’s vital to let your insurance agent know about any life events. It ensures that you have not only enough coverage for everyday life, but also for a rainy day.

It may be intimidating to insure your home for its replacement cost value, but keep in mind that your home is an investment. And if disaster strikes, you want to make sure your home is protected properly. Plus, our insurance professionals can help you find the best deals on the home insurance you need. We’ll work with you to make sure you have the right coverage limits for the prices that fit your budget. To start comparing quotes on the perfect Atlanta home insurance for you, just give us a call or fill out our easy online form today.

Source:

https://www.zillow.com

Have you thought about what would happen if you had a massive fire? Of course, your homeowners insurance would cover the damages to your house, but what about you? Where will you live while repairs are going on? How will you eat if a disaster wipes out your access to food? How do you afford to live when your living space isn’t available?

Here’s where additional living expense insurance comes in.

What is Additional Living Expense Insurance?

Additional living expense (ALE) coverage is a part of most homeowners insurance, condo insurance, and renters’ insurance policies. It is the portion of your policy that will help you cover living expenses if you can’t live in your dwelling after a covered loss or dwelling damage – most likely a natural disaster.

ALE coverage will also actually cover a little more than your typical living expenses if you’re kicked out of your home for repairs. For example, an extended stay in a motel, hotel, or AirBnb is going to cost way more than what you spend normally. If you don’t have a way to store food at your temporary location, ALE insurance can also help you cover the cost of eating at restaurants while everything is being fixed.

ALE insurance may also help cover:

• The costs of doing laundry
• Storage costs
• The cost of moving if you’re displaced by a natural disaster
• A place for your pet to live if you can’t take them into your temporary living situation
• Relocation mileage
• The cost of renting furniture you’re used to having in your home

How Much ALE Coverage Do I Have?

Don’t go ripping off your roof just yet! ALE coverage does have a limit, and it depends on whether you have home, renters, or condo insurance.

• Homeowners ALE will be about 10-30 percent of your dwelling coverage limit.
• Renters ALE will cover up to about 30 percent of your personal property limit.
• Condo ALE will cover up to 50 percent of your personal property limit.

Another caveat is that additional living expense insurance only covers the expenses needed to maintain the living conditions you have already been accustomed to in your current home. It’s also important to highlight the importance of the coverage title: Additional. This means that your insurance will only cover whatever cost is left over after you pay for what you can.

For example, let’s say you normally pay $900 for rent. All of a sudden, a fire breaks out in the building and destroys your apartment. You landlord tells you that you don’t have to worry about paying rent for a unit you can’t live in, so that’s $900 that you would be able to use to find a place to live. So let’s say you find a place to stay that looks and feels about the same as your apartment – similar square footage, included appliances, patio, etc. – but the neighborhood or complex of this dwelling charges $1,200 a month. Your insurance would pay the additional $300, not the full $1,200. So, if your temporary living plans include living in the lap of luxury in a $2,000/month dwelling, your insurance will probably determine that that’s not your usual standard of living.

Restaurant Expenses & Reimbursements

Filing a claim for your loss in food expenses can be a sticky situation. Your carrier will want to know how much you spend on a regular basis to figure out the additional money they’re willing to give you. Also, depending on your insurance carrier, they could give you a lump sum as a part of the additional living expense payout for food or you’ll end up being reimbursed for your food expenses.

In either situation, insurance companies usually have an average maximum limit that they pay out for food expenses. If your normal food expenses are above that average, then you’ll have to pay special attention to the amount you spend while you’re displaced from your home. You’ll need to consider and keep paperwork or proof for a few things:

1. Your normal food expenses – everything from groceries to fast food to sit-down restaurants
2. Your food expenses while your home is being repaired
3. How the two amounts differ – because the insurance company will want to know that you’re using your normal expenses as a baseline for the extra amounts that you’re paying.
4. Written documents from the insurance company if you have permission for expenses outside of the normal realm.

Don’t get carried away with your restaurant spending either! If you normally cook at home, even if you’re used to eating a bit lavishly, your carrier will already take that into account when they give you ALE funds. If your insurance places you in a temporary space that has the kitchen you need and are used to, they probably won’t foot the bill for the additional cost of eating restaurant lobster every night.

It is a bit tricky to know exactly what your insurance carrier will cover since hotels, motels, hostels, restaurants, and extended stay complexes can cost more than a rent payment or a mortgage. So, it’s important to talk to an insurance agent about exactly what your ALE coverage allows.

Our insurance professionals are always here to walk you through what your ALE will cover if you’re displaced and present you with a network of temporary living spaces that won’t max out your ALE budget. Call 404.352.0304 or fill out our online quote form to get a quote on the type of home, renters, or condo insurance that will give you the treatment you deserve when you’re in a pinch.

Sources:

https://www.thebalance.com/claiming-additional-living-expenses-ale-coverage-4154070

https://www.irmi.com/term/insurance-definitions/additional-living-expense-coverage

https://www.investopedia.com/terms/a/add_living_expense_insurance.asp

Other structures coverage is just like it sounds – it covers the other large structures that are on your property besides your house. Most times, other structures coverage will be included in your homeowners policy. The best way to know if you have this coverage already is to look at your insurance declarations page and see if you have something called “Coverage B,” which is another term for other structures insurance.

Other structures coverage was originally created for detached garages. However, as home prices increased and less developed land became available in the 1970s, builders began building attached garages. That still doesn’t mean that other structures coverage is completely useless.

What Does Other Structures Insurance Cover?

If you have one of the following structures, you should look out for other structures coverage in your homeowners insurance policy:

• A detached garage
• A pool or pool house
• A shed
• A gazebo
• A fence
• A paved driveway

It’s important to note that just because you have other structures coverage, the complete cost to replace a structure may not be covered by the insurance. Other structures coverage is based on a percentage of the value of your home. So, depending on your policy and carrier, the maximum coverage limit could range anywhere from 5 percent to 20 percent of the value of your house.

Also keep in mind that just because you have other structures insurance or even a general homeowners policy, the belongings inside of your home or other structure may not be completely covered. Personal property coverage, or “Coverage C,” is also usually only a percentage of the value of that item or of your home. So, it’s important to review your homeowners declarations page and talk to your insurance agent about what you’re covered for and how much the coverage is.

Our agents are professionals at not only breaking down what’s in your homeowners insurance but giving you the best coverage and pricing that’s personalized to your needs. Call us at 770.497.1200 or fill out our online quote form to get free quotes on your homeowners insurance and compare the coverage you can get on the other structures on your property.

Can I Remove Other Structures Coverage to Save Money?

I hear some of you saying, “Wait, I don’t have anything else attached to my house or on my property,” or “I don’t really care about insuring my other structures.” So, can you take off other structures coverage to save money on your homeowners?

Homeowners insurance is usually not the piecemeal that other types of insurance can be. Whether you have an HO-3, an HO-5, or some other type of homeowners coverage, it usually comes as a bundle – a bundle that will more than likely already include other structures. This is because insurance companies want to be able to offer coverage to the vast majority of people, who will usually have at least a shed or fence.

That being said, if there’s anything on your property that falls into the “other structures” list, you should probably keep your other structures coverage anyway. Your insurance carrier may exclude some structures from the coverage if they decide that it needs too many repairs or if it’s too dangerous to use due to a lack of maintenance, but those cases are few and far between. Your carrier could also include other structures in your dwelling coverage, which will lump everything on your property together in terms of coverage anyway.

If you don’t have any other structures on your property, taking off other structures coverage could mean that you’ll have to skimp on your homeowners coverage altogether. So, you may not be paying for other structures coverage that you’ll never use, but you could also be missing out on coverage that you need for your actual home.

If you’re really worried about saving money regarding this part of your homeowners, there are other ways you can save money – for example…

Discounts!

Talk to your insurance agent to make sure you’re getting all of the discounts you possibly can. Ask about common discounts like loyalty and bundling. Ask about carrier specific discounts. Ask about home improvements like a security system or an impact-resistant roof that may qualify you for a discount.

You can also ask one of our insurance professionals! We’ve formed relationships with multiple, trusted insurance companies so that we can get you the best rates on the specific coverage you need. We’ll help you compare quotes on policies that cover only the property you want to cover and find ways to save you money on all the rest. Call us at 770.497.120 for a free quote or get started with our online form.

Sources:

https://www.irmi.com/term/insurance-definitions/other-structures

https://www.thebalance.com/remove-other-structures-insurance-coverage-2645713

When you’re dealing with something as important as Atlanta home insurance, it’s crucial to have the facts. There are many assumptions and myths out there about home insurance. We’re going to turn some of these home insurance myths upside-down and discover the truth.

1. MYTH: I should use my home’s market value when I insure it.

The truth: You need enough insurance to completely rebuild your home from the ground up.

The goal is to have enough home insurance to completely rebuild your home from the ground up if it were destroyed, including building materials and the labor of the contractors. That means insuring your home for its replacement cost. The market value of the home, or the amount that a house would reasonably sell for, may not accurately reflect the amount you would need to rebuild the home.

2. MYTH: Home insurance covers flooding.

The truth: It doesn’t. This is one of those home insurance myths that is not true.

Many homeowners only find this out after their home sustains flooding due to heavy rain. But flooding simply isn’t covered by Atlanta home insurance, even though certain types of water damage are. To protect your home against flooding you would have to have a flood insurance policy in place. You can get flood insurance from the National Flood Insurance Program (NFIP) through an agent.

3. MYTH: Home insurance covers all of my personal belongings.

The truth: Kind of. This is one of those home insurance myths that you need to talk to your agent about.

Yes, a typical home insurance policy will provide coverage for your personal belongings – furniture, clothing, and so on. But there are a few things to consider. First, you need to check and see what the limit of coverage is for your personal belongings (the maximum amount of money insurance will pay out.) You also have to check to see what losses and perils are covered under your policy.

Jewelry and valuables are something else you have to think about. Your policy may only provide limited coverage for jewelry, art, and other valuables – and this coverage might not be enough to fully protect your treasures. You might have to explore options for covering your jewelry, valuables, art, and collections.

4. MYTH: Home insurance will cover termite damage.

The truth: Termites are pestilential beasts and damage by these tiny demons is not covered by home insurance.

If termites go to town and turn your home into their own personal buffet, the damage and cost of extermination would not be covered by home insurance. Termite damage is considered to be a maintenance thing, and home insurance typically doesn’t cover maintenance-related issues.

Pro-tip: Have regular pest-control and termite inspections. Squash the bugs before they cause serious damage – or emotional distress.

5. MYTH: Home insurance will replace my belongings like new.

The truth: Well, it depends on your policy.

You can insure your personal belongings for their replacement cost value or their Actual Cash Value.

Actual cash value coverage means that your insurance company will give you the value of the belongings at the time of the loss as reimbursement. (This is the depreciated value, and it may not be enough to replace your belongings at today’s prices.)

Replacement cost value coverage can replace your belongings at today’s prices.

The point is you need to read your policy to see how your personal belongings are covered and to determine if you have enough insurance.

6. MYTH: If an injury occurs in my home, it’s covered.

The truth: Liability coverage takes care of your legal responsibility to your guests if they’re injured, not your family.

If a guest trips over your garden hose and breaks an arm, your liability would probably be covered by home insurance. (For example, their medical bills or expenses if they sue you.) But if a member of your family trips over the same hose and breaks an arm, you would have to use your health insurance.

7. MYTH: Home insurance covers my home-based business.

The truth: You need to check your home insurance policy (as with many of these home insurance myths.)

You need to make sure your home-based business is properly insured. You might need to add coverage to your home insurance policy through an endorsement, get a home-based business policy, or get a business owner’s policy.

8. MYTH: Home insurance is too expensive to be worth it.

The truth: Home insurance is a financial safety net.

The house you live in is a big investment, and insurance can help you protect that investment. Consider what would happen if your home was burgled, caught fire, or got in the way of a falling tree.

As far as home insurance being overly expensive, we’re happy to bust that myth. Our agents are pros at helping people save money on home insurance and get great coverage at a great rate. We can shop your rates and get you the insurance you need to protect your home. All you have to do to get started with Atlanta home insurance quotes is fill out our online form or give us a call today. Let’s crush these home insurance myths together.

Source:

https://www.thebalance.com/ignore-these-6-myths-about-homeowners-insurance-coverage-4177282

There are a lot of perks to owning a home, but there’s also a lot of responsibility that comes along with it. (And we’re talking about more responsibility than figuring out how to decorate.) For example, you have to deal with home insurance. Your main question might be this – what does home insurance cover? We’re going to tackle that question and explain what a typical home insurance policy covers. (But of course, you really need to read your particular policy to understand how it protects your home.)

What does Atlanta home insurance cover?

1. The home.

Okay, we know you’re rolling your eyes – it’s a no-brainer that Atlanta home insurance covers the home. We mean that home insurance covers the structure of the house itself – the dwelling. Home insurance protects you financially if you’re ever struck by a covered loss, such as burglary, fire, vandalism, lightning, or hail. (Or falling trees.) It can pay for the necessary repairs resulting from covered losses. Now, it’s important to note that not all losses are covered. Flooding is usually excluded from home insurance policies, as are earthquakes. You really have to read your policy thoroughly to see what is and is not covered.

Another question you might have is how much dwelling coverage do you need for your house. A good rule of thumb is to insure your home for its replacement cost. The replacement cost of your home is the cost of rebuilding your home from the ground up as if it was completely destroyed (for example, after a fire.) That means that you’re including the costs of building materials and the labor of the contractors. It’s different than insuring your home for its market value or the value you bought it for.

2. Other structures on your property.

If you have structures like a detached garage, shed, or fence on your property, those will also most likely be covered by your home insurance. Keep in mind that you need to check on the limit of coverage these “other structures” have.

3. Personal belongings.

The contents of your home are also covered by your insurance. That means your furniture, your electronics, your clothes, and your other treasures are all protected under your insurance. The section of your insurance that covers your personal property will replace your belongings if they’re destroyed by a covered loss (i.e., fire or theft.) Your insurance should follow your belongings, so even if your possessions aren’t in your home when they’re stolen or destroyed they’ll be covered. So, if you had a whole bunch of stuff in your car and these belongings get stolen, they could be covered.

To find out how much coverage you need for your personal belongings, you can take a home inventory, which is basically just a list of all of your possessions and their value. Another perk of having a current home inventory is that it can help you when it comes to filing a home insurance claim (though we hope you won’t ever face a loss requiring a claim.) With a handy-dandy home inventory, you’ll know exactly what you need to claim. It’ll make the entire process easier.

Pro tip: Consider insuring your personal property for its replacement cost value. Replacement cost value will replace your possessions at today’s prices – it doesn’t take depreciation into account. Actual cash value coverage will only cover the value of your belongings at the time of the loss, which means the depreciated value. And that might not be enough to replace your belongings at today’s prices.

4. Loss of use coverage/Additional living expense coverage.

Let’s say that you experience a covered loss to your home and you have to move out. You have expenses that you wouldn’t normally have to maintain your family’s standard of living. Your home insurance can help you cover the cost of those extra expenses, such as hotel bills and restaurant bills. Your home insurance may have a certain limit for these extra expenses, so be sure to check on that.

5. Liability insurance.

Your liability insurance can help you if you or your family ever cause someone either bodily injury or property damage and you have a legal responsibility to cover their expenses. It can also help you if they decide to sue. To illustrate, liability insurance could help you if a guest trips over an uneven section of your driveway, gets hurt, and decides to sue you.

You can also read your home insurance policy to find out about medical payments coverage. The person who was injured can submit their medical bills straight to your insurance company.

Pro tip: You can add liability coverage to protect your assets by purchasing a personal umbrella insurance policy.

Atlanta home insurance covers a lot more than just your house. Other structures, your belongings, your liability, and additional living expenses are also covered. We can’t say enough how important it is to read your policy carefully so you understand exactly what cool stuff it does and what is and isn’t covered. Arm yourself with knowledge.

Are you wanting to save money on your Atlanta home insurance? We would be happy to help you shop your rates so you can compare coverage options and pricing so you can get great coverage at a great rate. We can help you get the Atlanta home insurance you need to protect your home. Ready to get started with your home insurance quotes? You can fill out our quote form or give us a call today and we’ll be at your service.