Fine– maybe it’s not a secret anymore, but you’d still be shocked by how many homeowners don’t have proper homeowner’s insurance. Fortunately, it’s become standard operating procedure for obtaining mortgages. Your home is probably the biggest investment you’ll make in your life- so wouldn’t you want some protection for it? Chances are, your standard policy will include wind, hail, fire, and theft- mostly for things that would occur suddenly and be accidental. However, a sudden roof collapse from old age would likely not be covered. Then what?
The most common mistake homeowners make when purchasing insurance is not knowing exactly what their policy covers. According to a survey conducted by the National Association of Insurance Commissioners, one third of homeowners believe flood damage will be covered by their standard policy. Over half think their policy covers them in the event of a water line break.
Thirty-five percent say they will be compensated for an earthquake, and a slightly lesser proportion thinks mold is covered. The U.S. National Earthquake Information Center estimates that each year, California generally gets two or three earthquakes large enough to cause moderate damage to structures (magnitude 5.5 and higher). Why take chances on the most important thing you own?
This is also why it’s important to shop around for insurance providers before settling with a policy. You want someone honest, thorough, and well-educated about the area. At NextHome Element Realty, we recommend Jill Mongeon Insurance Agency to our clients for these exact reasons. The local agency represents Farmers Insurance and is operated by a mother/daughter team who understand how important protecting your loved ones is. They are a full-service agency, meaning they’ll personally sit down with you and help figure out the perfect coverage before putting together options that fit your concerns, needs, and budget.
We want all of our clients to have peace of mind and an amazing experience, which is why we only recommend the best: we trust them because our realtors use them for their own homes. When you’re with us, you’re protected. Yours is the only element that matters