The Importance of Property Insurance

Property insurance is crucial in order to financially protect your investments. Whether you are insuring a property you live in full time, rent, or leave vacant, it is still important to have. Without property insurance, you can find yourself paying out of pocket cost to repair your roof after a giant tree has fallen on it.

The majority of homeowners are unaware of what their property insurance actually covers and doesn’t cover. Without proper knowledge of what your policy covers, how can you know if you are safe?

Property insurance coverage includes:

  • Fire 
  • Wind
  • Hail
  • Theft

Property insurance coverage excludes: 

  • Flood damage
  • Earthquake damage
  • Mold
  • Acts of War
  • Parts of your property that are in disrepair

Your premium will depend on a variety of factors including your risk factor. If you live in an area that is at a particularly high risk for tornadoes, hurricanes, or floods, your property insurance premium will likely be higher than others. If you own a large dog or a swimming pool, you will also experience an increase in premium. Your credit score and smoking habits also affect your premium.

If you have any questions regarding your property insurance policy, contact the insurance experts at Warrior Insurance and Services group today.

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