Multiple Carriers, Multiple Coverage Options
If purchasing a home is one of the largest and most expensive investments we’ll ever make, then obtaining proper home insurance is absolutely critical.
A homeowners policy is a package deal that is designed to provide a certain amount of coverage for your home (dwelling) and personal property, with additional coverages like theft and personal liability.
Home buying season is in full swing. Let our family of Independent Agents help you find the right coverage for your new home | 540.382.4277
— Dove Insurance (@DoveInsurance) May 12, 2017
Why You Need Homeowners Insurance
- If your home was destroyed by fire or damaged by a natural disaster, you’d need money to repair or replace it.
- If a guest is injured, liability protection and medical coverage help pay expenses.
- If you’re a victim of theft or vandalism it can reimburse you for your loss or pay for repairs
- If you have a mortgage you’ll need insurance to cover the lender’s financial investment
Market Value vs Replacement Cost
If I only paid $180,000 for my home, why does my insurance company want me to insure it for $225,000?
One of the biggest questions regarding home insurance centers around the amount of coverage to place on your home. Most homeowners assume the amount of coverage will be equal to the amount they paid for their house.
It’s important to understand the difference between these two methods of valuation:
- Market value. This is the price paid for your home. Real estate pricing is based on market value. It’s a method that values property based upon the amount a willing buyer would pay to a willing seller.
- Replacement cost. The cost it will take to rebuild your house in the same spot, at the same size and with the same quality of construction at today’s costs. Insurance companies use replacement cost, not market value.
Know Your Options
Instead of working for one big company, our family of Independent Agents represent multiple insurance providers. We’ll take a look at:
- Your home’s value
- Ideal coverage for your home’s architecture
- Thoroughly check for all available discounts, including multi-policy
- Explain your coverage and covered perils
- Provide personal service when you need it
You should also know that personal property on a standard home insurance policy has set limits for specific items, such as jewelry, firearms, etc.
If you own valuable items you’ll want to consider the comprehensive protection offered by a Personal Articles Floater for:
Here To Help Serve You
If you’re already a homeowner or anticipating a home closing, contact us today.
Instead of working for one big company, our family of Independent Agents represent multiple insurance providers. This allows us to compare rates and coverages so you’ll get the best coverage-to-value policy available. We’re here to serve you.
Let us help.
Discover everything an Independent Agent can do for you!
Dove Insurance serves Virginia; including Blacksburg, Catawba, Centreville, Christiansburg, Covington, Floyd, Galax, Harrisonburg, Hopewell, Leesburg, Lynchburg, Pulaski, Radford, Richmond, Riner, Roanoke, Salem, Staunton, Waynesboro, Wytheville. We provide home insurance, auto insurance, small business insurance, umbrella insurance, commercial auto insurance, life insurance, earthquake insurance, flood insurance and liability insurance.