Your home in Richmond, VA is beautiful and a sign of your financial success. It would be best if you had a home insurance policy that protects your prized asset in more ways than one. The agents at Cary-Wheeler & Associates Inc. can help you understand indemnity coverage for your home so that you purchase the best policy for your lifestyle.
What does home insurance cover?
A standard home insurance policy pays for damage to the structure as well as possessions inside the home. The best indemnity coverage also pays for medical bills if a guest is injured while visiting your home.
Most standard home insurance policies do not pay for natural disasters such as flooding and fires caused by heavy winds. Homeowners need additional coverage to pay for these events.
Is home insurance required in Virginia?
There is no state law requiring all homeowners to obtain home insurance in Richmond, VA. Owners with mortgages funded by the federal government are, however, required to have home insurance.
How much indemnity coverage do you need?
The amount of home insurance you need depends on your lifestyle preferences as well as the market value. It is best to choose a policy worth at least 80 percent of your property’s value to avoid coverage restrictions in the instance of total disaster.
It would be best to consider an indemnity policy that protects treasured possessions such as antiques and keepsakes that have more sentimental value than market worth. A standard home insurance plan may not provide enough financial compensation if such items are destroyed.
The agents at Cary-Wheeler & Associates Inc. can help you put together a home insurance plan that protects your assets. Call them today to request a quote for coverage!