Hazard or homeowners insurance

Buying a home is one of the biggest investments you will make in your lifetime. A lot of thought and effort goes into choosing just the right home for you and your family. It's important that similar care is taken in choosing the right homeowners policy to protect that investment.

The standard homeowners policy covers your home, other structures such as detached garage or tool shed, your personal property and additional living expenses if a loss forces you from your home. It also provides personal liability protection for bodily injury or property damage that you or a family member might cause to someone else.

In addition, there are a number of coverage plans available to expand the standard homeowners policy and provide broader coverage. One of the optional coverages is replacement cost coverage on personal property. This endorsement assures you of having your personal items repaired or replaced without depreciation when a loss occurs. For example, a wedding ring could be insured.

The amount of insurance coverage that you carry on your home is extremely important. Your agent can help determine the approximate replacement cost of your home so it will be properly insured. They can also assist in getting a binder or policy issued to you and your mortgage company by the closing date. Other insurance to be considered is Mortgage Life Insurance and Mortgage Disability coverage.