Three Surprising Facts About Your Home Insurance Coverage Policy

Those of us with homeowner’s insurance know the basics of our coverage. Most policies offer adequate coverage for the typical home. However, there are some surprising facts about insurance you may not know. They include:

They only cover certain natural disasters. You probably think your insurance covers you for all damages caused by natural disasters. But that’s only partially true.

Most policies protect against losses from ice damage, lightning stickers, and forest fires. But, if you’re in an area prone to floods or earthquakes, you may need additional coverage.

It’s important to reevaluate your coverage annually. As a homeowner, you’ll likely add features to make it into your castle. But the amount of coverage your home needs at closing before you buy new goodies to fill it differs significantly from your needs after you move in and begin turning it into your home.

It’s important to speak to your insurance agent at the Ryan Insurance Agency before your annual renewal period to inform them of any significant changes you’ve made. It would help if you also discussed the things you’ve bought for your home – especially those that are more expensive.

The location of your property in Clarkston, MI affects its value and your premiums. For instance, if you live in a suburban or urban location, your premium is higher than a similar home in a rural area. This is because it costs more in cities. This is especially true with construction costs, physical materials, and the like. 

Home insurance is a valuable resource for homeowners in Clarkston, MI. That’s why it’s essential to work with your local agent at the Ryan Insurance Agency to find the specific policy that best suits your needs. They will guide you concerning the pitfalls and benefits specific to your neighborhood. Contact them today to find out how.