You know you need home insurance. However, you may struggle to understand the exact policy and coverage you need. At Emporia Insurance Agency LLC in Virginia, we believe every homeowner should have the right policy.
Home insurance has two main components. These are property loss or damage and liability.
Property damage covers the structure of your home. If a tree falls on your roof, for example, your property damage coverage will cover the costs of repairs.
You also have personal property protection. This policy portion will cover replacement if the tree also breaks your flat-screen TV. In addition to covering damage due to accidents, your policy also covers theft.
The other portion of your policy is a liability. If someone is injured on your property, they may be able to sue you for damages. The liability portion of your policy will cover legal fees and judgments against you.
It's important to note that there are typically exclusions in a homeowner's policy. For example, they do not cover flooding. You'll need a separate flood policy for that coverage.
When it comes to personal liability, intentionally destructive or harmful acts are typically excluded. Be sure to speak to your agent about what is covered in your specific policy.
There's no legal requirement to maintain home insurance in Virginia. However, if you have a mortgage, your lender will require you to have homeowners’ insurance. This protects their investment as well as yours.
Home insurance is a wise choice even if you don't have a mortgage. Your home is likely the most significant investment you will ever make.
If you need home insurance in Virginia, contact us at Emporia Insurance Agency LLC. Our agents will take the time to speak with you and guide you to the best home insurance policy for your needs.
