Why should I buy homeowners insurance?
- Home Owners: Protect both your house and personal property.
- Tenants of Rental Properties: Protect your personal property.
- All parties: Protection against liability for accidents that injure other people or damage their property.
How much insurance coverage do I need?
Your individual needs and situation should dictate how much insurance you need. When you're trying to determine how much insurance to buy, here are a few factors to think about:
- How much can you afford to pay out of pocket? (Choose a deductible that you know you can pay out of pocket. Also, if you choose lower limits, you might be personally responsible for damages that exceed those limits. Consider whether you can afford this possibility, too.)
- Do you make payments on your car? (If you do, you may be required to have Comprehensive and Collision in addition to Liability coverage.)
- What type of vehicle do you drive? (It's wise to have higher limits for vehicles, such as large SUVs, that can cause more damage.)
- Do any drivers live in your house but never drive your vehicles? (You can exclude them from coverage on your policy, which means you won't have to insure them on your policy.)