If you’re like most homeowners in Kentucky, your home is your most valuable asset, and should be protected as such. When your home is damaged or destroyed, you need your claim settled by an insurance company that understands the importance of the place you call home.
Strategic Insurance Partners will help pair you with the right homeowners insurance. Every homeowner has specific needs, and we strive to meet them at the most competitive cost.
A common misconception is that all insurance policies are the same. Every insurance carrier offers their own specific coverages, endorsements, and riders. Additionally, they each have their own requirements and limitations. By working with an independent agency, like Strategic Insurance Partners, clients have a specialist that helps ensure that they have the right protection with the best carrier available.
Common Homeowners Insurance Coverages
These are some common coverages you typically see on a homeowners policy:
Dwelling — This is the portion of your policy that covers the actual structure (main house). The cost to replace your home can fluctuate based on the cost of raw materials, labor, and of course, supply and demand. We utilize a replacement cost analyzer to determine how much it would cost if your home had to be completely rebuilt.
Other Structures — This provides protection for any structure on your property that is not permanently attached to your house. Examples would be fencing, driveways, sidewalks, pools, and detached buildings such as sheds and garages. This coverage tends to be 10% – 20% of your dwelling limit but can be increased if additional coverage is needed.
Personal Property — This protects all your personal belongings including, but not limited to clothing, furniture, electronics, and appliances. Basically, anything that would fall out of your house if you turned it upside down and shook out the contents.
Loss of Use — If your primary home is uninhabitable due to a covered loss, this coverage takes care of your living expenses if you need somewhere to live temporarily.
Medical Expense —This protection is for guests if they are injured on your property, and in certain cases, off your property. It does not cover health care costs for you or other members on your household.
Personal Liability — This provides coverage if someone is injured or their property is damaged, and you are to blame. Generally, this coverage applies anywhere in the world. When determining how much personal liability coverage your family needs, consider your family’s income and your assets. Your limit of liability should exceed the value of your assets in case you are sued for any reason. A Personal Liability Umbrella policy can provide additional coverage beyond your personal liability limit.
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