Homeowner's Insurance

Prescott Insurance knows your home is more than likely your biggest investment and insuring your investment is protected is very important. Prescott Insurance offers insurance from some of the best companies in the country and is ready to help you select the proper "Homeowners Insurance" at an affordable price.

As a homeowner there are a variety of aspects your insurance program must consider. Most likely you will choose to insure your home and its contents for replacement value. Unlike the renter or condo owner you probably have several special circumstances that need to be considered. Perhaps you have other buildings on your property such as a garage or utility building. These are all important considerations when selecting the right policy. Most forms of homeowners insurance will cover the cost to repair or replace damage to your home’s structure and other structures on your property, such as a storage shed or detached garage. In addition to structures, homeowners insurance also covers your personal property. Coverage for personal property if it is taken off-premises may be included, but can also be limited. It is critical to know what coverage you are selecting.

Homeowners insurance is much more than a product you have to buy to satisfy requirements to get a mortgage. Homeowners insurance is asset protection; it is the protection that allows you to regain the use and value of your family’s most important asset when it is damaged. Your homeowners insurance also will pay expenses resulting from the loss of use of your home due to a covered loss. For example, if your home is uninhabitable due to a fire, your homeowners insurance will help pay costs for you and your family to relocate and live somewhere else while your home is being repaired.

In addition to property, your homeowners insurance will pay claims for bodily injury or property damage to a third party for which you or a member of your household is legally liable. This coverage is extremely valuable, especially for parents with young children (think of when your children’s friends come over to play). In most policies, your liability coverage applies worldwide; it is not restricted to your home’s premises. Homeowners insurance covers a variety of different situations that could cause damage to your home and its contents. Known as “perils,” these situations can include fire, windstorm, theft and vandalism.

An understanding of the types of losses covered by your homeowners insurance is essential – following a loss is not the time to find out a peril is not covered. Keep in mind that some types of losses, such as earthquake and flood, require a separate insurance policy. Most homeowners insurance policies will not cover certain types of personal property. Other types of personal property are covered but limited, such as money, valuable papers and items of significant value (i.e., jewelry, art, collectibles, etc.). It is important that you contact your insurance company or agent to discuss the policy’s limitations, including if and how coverage can be obtained.

It is absolutely imperative the right questions get asked. Do you own jewelry, firearms, furs, art, musical instruments or a boat? All these must be considered when designing your home owners policy. Does your home have an office? Do you have a pool or a fireplace or wood burning stove? These are important considerations as we formulate the perfect solution to your insurance needs. The professional staff at Prescott Insurance is ready to assist you in finding the correct homeowner policy with complete coverage. We represent a large group of highly reputable companies and are committed to finding you the best coverage at a fair price. A variety of coverage combinations may apply depending on geographic location, the type and style of home you live in and the lifestyle you live. Prescott Insurance has the expertise to assemble the correct package that will meet your insurance needs.

There are penalties for not carrying enough insurance on your home at the time of a loss. Limits should be checked and updated frequently. Also, keep in mind that additions to your home may not only affect your home’s value, but may not automatically be covered. Always check with your insurance company before making a significant alteration to your home, such as the addition of a new room.

Prescott Insurance cares about Renters too because it is imperative that you protect your personal property. If you don't own your own home it is likely that a large portion of your net worth consists of personal property. Since you do not need to insure the building you live in, "renter's insurance" provides a way for you to cover only your personal property and provides coverage against loss of use and liability claims. Whether you are just starting out or have accumulated large quantities of personal property, renter's insurance should be an important part of your overall financial

Townhouse and Condo owners have their own unique needs when it comes to insurance. While they need to cover personal property, they also have an investment in the part of the building where they live. When you are purchasing insurance for your Townhouse or Condo, you need to know that your insurance company understands the unique needs related to Townhouse and Condo insurance. Prescott Insurance has the expertise and understands your needs. Let our many years of experience work for you.