Natural disasters in Colorado have increased by 275% in the last 20 years. The state ranks second in the nation for hail insurance claims. Finding homeowners insurance with the right coverage is essential for your peace of mind and financial security.
Homeowners insurance in Colorado Springs includes several types of coverage. Learn more about what to look for in your home insurance to be sure you’re protected.
What Does Homeowners Insurance Cover?
A standard homeowners insurance policy provides six types of coverage. When choosing home insurance in Colorado Springs, you’ll want to be sure that the policy limits in each category fit your needs. High-net-worth individuals and people at higher risk of being sued may want to bundle an umbrella insurance policy.
Dwelling Coverage
Dwelling coverage pays to repair, replace, or rebuild your home after a covered event. It applies to the structure of your home, like the walls, floors, and roof. Covered perils usually include events like fire, lightning, or vandalism.
Personal Property
Your personal property encompasses items in your home such as furniture, clothing, and electronics. Outdoor grills and swing sets are typically included as well. For high-value items like antiques or jewelry, additional coverage is necessary.
Other Structures
Coverage for other structures applies to buildings and structures that aren’t part of the main house. This category can include:
- Garages
- Sheds
- Shops
- Fences
The amount of coverage you need depends on how many and what type of other structures you have.
Loss of Use
Loss of use coverage pays for your living expenses if you can’t live in your home temporarily because of a covered event, like a fire or tornado. It covers costs like hotel bills and groceries.
Personal Liability Protection
Liability insurance safeguards you if someone gets injured on your property and holds you responsible. This coverage helps with medical bills and legal expenses. High-risk items like swimming pools and trampolines typically require additional liability coverage.
Medical Payments Coverage
Medical payments coverage applies when someone is injured on your property no matter who was at fault. It doesn’t apply to members of your household. It covers reasonable treatment costs and copays.
What Risks Should Homeowners Insurance in Colorado Springs Protect Against?
Residents of Colorado Springs should be prepared for many possible types of homeowners insurance losses. The most common causes of damage include:
- Wind
- Hail
- Water damage
- Freezing
- Fire and lightning
Look at your proposed policy closely to be sure you understand the types of events it covers and the monetary limits for compensation. For example, most policies exclude damage caused by wear and tear or deteriorating property.
Finding the Best Homeowners Insurance for You
No one expects to make a homeowner’s insurance claim. If you do, though, you want the right coverage. Consider the value of your home and your possessions when choosing policy limits.
Our team at Warrior Insurance will help ensure you get the coverage and policy terms that fit your lifestyle. We’re not tied to a single carrier. You can choose from several carriers to find the right policy.
Request a quote from Warrior Insurance today and see how our affordable insurance policies can give you the protection you need.