Homeowners in Massachusetts have invested a lot in their houses, and those investments ought to be protected. Few homeowners would financially be able to rebuild their house if it was destroyed, for people’s homes are frequently their most valuable asset. Homeowners insurance policies give people who own houses a way to safeguard their properties against a range of risks.
Homeowners insurance is so-named because one of its primary protections is usually to cover a house. Most policies, however, protect against a few other risks as well. For example, protection from certain liability lawsuits and for personal belongings are frequently included in homeowners policies.
Most Massachusetts residents who own a house can likely benefit from having a homeowners policy. In some cases, homeowners who have mortgages may be required by the terms of their loan to carry this type of insurance. Even if it’s not required, homeowners are often still wise to purchase it because homes can be so expensive to replace.
In order to offer multiple protections, most home insurance policies include several coverages that create a web of protection. A few coverages that policies often make available as a standard or optional protection are:
In addition to these, there are many other coverages that homeowners might be able to choose from. Vacant property coverage, and drain and sewer backup coverage are two optional protections that some policies offer. Exactly what’s available to homeowners varies depending on the policy they select.
Home insurance normally doesn’t include coverage for floods and earthquakes as a standard protection. Some policies might offer these protections as add-ons, but not all do.
Homeowners in Massachusetts who want coverage for these natural disasters frequently end up purchasing separate policies that offer specific protection against floods or earthquakes. Flood policies can be purchased on the open market or through the National Flood Insurance Program, depending on whether a homeowner qualifies for the NFIP. Earthquake policies are usually purchased on the open market.
Most insurance agents who are familiar with the nuances of home insurance can also help homeowners explore what flood and/or earthquake coverage options available to them.
Insurance companies offer many different policy options so that homeowners can customize coverage to their specific needs. Within the insurance industry, many of these policies are abbreviated by “HO-X,” with “X” standing in for a number. A few common policies are:
Selecting the right homeowners insurance policy requires considering your unique coverage needs and finding a policy that best meets those need at an affordable price. For help with this process, contact the experienced and independent insurance agents at John P. Russell Insurance. Located in Massachusetts, our team will help you select the right coverages and then compare policies that offer those chosen protections.
John, you and your office have done a great job for us and I really appreciate it. You guys are very professional and considerate. That goes a long way with me.
Karen, Medfield, MA
Your staff did an exceptional job helping me with a recent claim. They took care of everything in a professional and prompt manner. They were very nice, extremely helpful, and took the burden off of me. Their help was greatly appreciated.
Lori, Quincy, MA
Everyone at the agency were very courteous and put me at ease during the frustrations and inconvenience of filing a claim related to my accident.
Andrea, Stoughton, MA
I want you to know how much I appreciate your personal attention in handling my policies. I was amazed by the efficiency and professionalism of your staff.
Eric, Taunton, MA