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Property Insurance

Đang chơi bàiLearn about the different types of insurance for your property.

Đang chơi bài to learn more about its requirements. 

Đang chơi bàiBe sure to read the declarations page of your auto insurance policy. This page is a  summary of your policy. It includes: 

  • The length of coverage 
  • Annual premium
  • The largest amount your insurance company will pay out for each type of claim, and
  • How your premium payment applies to each part of your coverage 

Homeowners and Renters Insurance

Đang chơi bàiHomeowners insurance protects your home and personal property against damage or loss. It insures you in case someone gets hurt while on your property. You may already have insurance on your home if you have a mortgage on the property.

Renters insurance offers renters coverage like homeowners insurance. 

What Can Homeowners or Renters Insurance Cover?

Homeowners or renters insurance may pay claims for:

  • Damage to your home, garage, and other outbuildings
  • Loss of furniture and other personal property due to damage or theft, both at home and away
  • Extra living expenses, if you live in temporary housing during home repairs

Đang chơi bàiHomeowners or renters insurance may also pay for:

  • Physical injury and property damage that you cause to others through negligence
  • Accidents happening in and around your home, as well as away from home, for which you are responsible
  • Injuries occurring in and around your home to anyone other than you or your family
  • Limited coverage for money, gold, jewelry, and stamp and coin collections
  • Personal property in storage

Shopping for Homeowners or Renters Insurance

Start your search for a policy with general shopping for insurance tipsĐang chơi bài. Keep these points in mind when shopping for homeowners insurance:

  • Insure your house, not the land under it. If you don't subtract the value of the land, you will pay more than you should.
  • Buy enough coverage to replace your insured property. "Replacement Cost Coverage" gives you the money to rebuild your home and replace its contents. An "Actual Cash Value" policy pays the value of the property, at the time of loss. 
  • Ask about special coverage you might need. You may have to pay extra for computers, cameras, jewelry, art, antiques, etc.
  • Flood and earthquake damage are not covered by a standard homeowners policy. Earthquake policy premiums depend on the likelihood of earthquakes in your area. Consider getting , especially if you live in a flood prone area.
  • Landlords don't insure your belongings. 

Đang chơi bàiContact your  for more information about homeowners and renters insurance.

Đang chơi bài helps reduce the impact of flooding. Renters, property owners, and businesses are eligible for NFIP. Even if you live in an area that is not at high risk of flooding, you may still be required to have flood insurance.

How to Apply for Flood Insurance

  • See if your community participates in the program. . You can only buy a flood insurance policy if you’re a renter, homeowner, or business owner. Also, your property must be in an NFIP participating community.

  • Contact an insurance agent in your areaĐang chơi bài. You can only buy flood insurance through an insurance agent. You cannot buy it directly from the federal government. If your local insurance agent is unfamiliar with the NFIP, find an agent serving your area. Call the NFIP Help Center at 1-800-427-4661.

What Flood Insurance Covers and Other Things You Should Know

  • Đang chơi bàiThere are two types of flood insurance coverage: . Flood insurance only covers physical damage to your building or personal property directly caused by a flood. The NFIP advises that you buy both types of coverage.

  • Rates are set nationally and do not differ from company to company or agent to agent. These rates depend on many factors, such as the date and type of construction of your home and your building's level of risk.

  • Đang chơi bàiTypically, there's a 30-day waiting period from the date of purchase before your policy goes into effect.

  • All National Flood Insurance policies include a surcharge that Congress mandates. If your community participates in the , you may qualify for an insurance premium discount. This discount is calculated using a system of credit points earned as a result of flood preparations and improvements

  • Đang chơi bàiContact your flood insurance agent to make changes to, pay for, or renew your policy. If your mortgage lender requires you to have flood insurance, ask them questions about renewing or changing your policy.

  • Learn how to prepare for and recover from disasters and emergencies.

File a Flood Insurance Complaint

If you have a problem with an insurance company or agent that involves flood insurance, contact the company first. If you cannot find a solution, contact your state insurance regulator.

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Đang chơi bàiLast Updated: August 24, 2020