Category: Home Insurance

When it comes to renters or home insurance, there are many things to consider. The first step is understanding the difference between the two types of policies. That way, you can make an informed decision about which one is right for you. 

Insurance Warehouses of America in Orlando, FL is here to help you navigate these important insurance coverages. 

Renters vs Home Insurance

Renters Insurance

One of the most important things to consider when you’re renting is getting renters insurance. This type of policy will protect your belongings in the event that something happens to them, such as a fire or theft. It will also cover you if someone gets hurt while on your property. In most cases, your landlord’s insurance will not cover these things.

There are a few things to keep in mind when you’re shopping for renters insurance. First, you’ll need to decide how much coverage you need. This will depend on the value of your belongings. Second, you’ll need to choose a deductible that you’re comfortable with. Finally, you’ll need to decide whether you want additional coverage for valuable items, like jewelry or art.

Home Insurance

Homeowners, on the other hand, need to purchase home insurance. This policy will protect your home and belongings in the event that something happens to them. It will also cover you if someone gets hurt while on your property. Again, mortgage lenders typically require home insurance.

While you need to consider many of the same things when shopping for home insurance as you do for renters insurance, there are a few key differences. First, remember that this policy also insures the structure and other permanent fixtures of your home. Second, you’ll need to decide how much coverage you need for the replacement value of your home.

Give Us A Call

As you have seen, these two types of policies have different targets. Renters insurance is perfect for those currently renting and need to insure their belongings. Home insurance is designed for homeowners to protect their homes, belongings, and liability. Now that you know the basics of each type of policy, you can decide which one is right for you.

Regardless of what you are looking for, Insurance Warehouses of America in Orlando, FL is here to help. Call us today to get a free quote.

Owning a home is a big responsibility, and a lot comes with this ownership. One of those things is getting home insurance and carrying the policy the entire time that you own your home. It’s important to have this protection, as it protects you in a number of ways. If you need home insurance in Orlando, FL, call us today at Insurance Warehouses of America. 

Why Homeowners Need Home Insurance

Protecting Your House

Your house is in need of protection against a number of damaging calamities, accidents, and disasters. Home insurance provides this protection. It is vital to have this insurance because it can pay for the repairs you will need after something serious damages your house. The protection afforded by home insurance keeps you protected from having to spend your own money to make major repairs to your home. For many people, such an expense would simply be unaffordable. 

Coverage for Your Possessions

The belongings that are inside your house would require a lot of money to replace, and that’s another reason that home insurance is so important. It covers all of those belongings so that the policy can pay to replace them if needed. When there is a serious accident or another occurrence, having this coverage assures you that you won’t have to replace all of your possessions by yourself. 

Liability Protection

Another form of protection afforded by this coverage is liability protection. It protects you financially if someone had an accident in your home and had injuries and medical bills from it. It would pay for those medical bills for you so that you wouldn’t have to struggle financially to do so. 

Get Your Home Covered

If you don’t have a home insurance policy yet for your house, don’t wait any longer. Call us at Insurance Warehouses of America in Orlando, FL.

 

Unlike auto insurance, home insurance is not a form of insurance coverage that is generally required. However, this does not mean that you shouldn’t carry this type of coverage, as it can protect you financially when a catastrophic event occurs. When you are unfamiliar with home insurance, it can be helpful to familiarize yourself with some common home insurance terms. Insurance Warehouses of America wants to share some of these home insurance terms with Orlando, FL residents.

Peril

A peril is considered a covered and unfortunate event that may result in the need to file a claim with your insurer. There are a number of perils that are covered under a typical home insurance policy. Some of these covered perils may include fires, vandalism, wind damage, and theft.

Exclusion

An exclusion is considered an event that is not covered by your home insurance policy. For example, it is common for policies to exclude damage caused by floods, mudslides, and earthquakes. In order to be covered by these perils, a separate policy must be purchased.

Deductible

A deductible is a specific amount of money that must be paid before the home insurance company will pay your claim. The higher the deductible, the lower your monthly premium, on average. You can pay more monthly to have a low deductible so that you have less out of pocket in the event you must file an insurance claim.

Replacement Value

Replacement value is how much it costs to replace your property in its current condition if a total loss were to occur. Although market value will rise and fall from one year to the next, replacement value usually doesn’t. Therefore, it is safer and wiser to insure your property this way. A contractor can provide you with an estimate of how much it would cost to rebuild your home from nothing.

The terms of a home insurance policy can be tricky, so when you need help understanding your policy or are ready to purchase home insurance for your property, contact Insurance Warehouses of America. Serving Orlando, FL, this insurance firm can help you create a home insurance policy that fits your individual needs.