The right home insurance will help Utah homeowners protect their investment and safeguard against loss. When looking for insurance, you’ll find several options available at CN Insurance Associates, Inc.
Basic Homeowners Coverage
A basic homeowner’s insurance policy will cover:
- Your dwelling and other structures such as a garage
- Household contents
- The cost of living somewhere else while your home is undergoing repairs for a covered loss
- Personal liability insurance that protects you against a lawsuit if others are injured on your property
- Medical expenses, which covers the medical bills of anyone who is injured on your property
To ensure adequate coverage, your policy should cover the replacement cost of your home rather than its market value. That’s because, in many cases, it may cost more to rebuild your home than what you could expect to sell it for.
Personal Property Coverage
When it comes to your personal property, you have two options: replacement cost and actual cash value. The first will pay you the amount of money it takes to purchase a new replacement item. The second will pay only the estimated value of your goods and will take depreciation into account. Actual cash value coverage will cost less but may not fully cover your losses. Accordingly, you may wish to go with replacement cost coverage if you have lots of high-dollar items to insure.
Liability vs. Medical Payments
Liability coverage pays for damages in the event your negligence causes another person's injury. Medical payments, on the other hand, are covered regardless of who is at fault. The amount of coverage for medical payments is generally much lower and is generally used only for minor injuries. Liability coverage is much higher and is needed to reduce your liability for severe injuries.
See that your home has adequate homeowner’s coverage by visiting CN Insurance Associates, Inc. Call us today to receive a free quote.