Perhaps you spent a great deal of money constructing your new Port Orchard, Washington home or you may have spent a great deal of money purchasing a new or existing home in this area of Washington. Regardless of your situation, you want to protect your home as best as possible which means having homeowners insurance in Port Orchard, WA. If your home is financed, your finance company will require you to have insurance. However, if you hold no debt on your home, having homeowners insurance is still an important thing to protect yourself from the financial burdens should your home become damaged. Here are a few things you may need to remember about homeowners insurance.
There many small details with Homeowners Insurance in Port Orchard, WA that you’ll want to pay attention to and this is where having a good insurance agency can help. An insurance agency can help you understand the different facets of homeowners insurance to make sure you get the right policy for your needs.
For example, there is this tremendous difference between replacement costs for items that are damaged or lost due to a weather-related event, fire or burglary and actual cash value. Replacement cost will replace the item that was lost or damaged with the equivalent item given today’s current market value. Actual cash value estimates the value of the item that was lost or damaged and compensates you for that amount of money. If you have an older large screen TV, it may only be valued at $200. This likely won’t get you an adequate replacement for the TV that was lost or damaged like replacement cost insurance would.
Another thing to concern yourself with are the potential for floods. Most standard homeowner’s insurance policies don’t cover damages that occur because of a flood. This will be an extension to your homeowner’s insurance policy. You need to be aware if your homeowner’s insurance policy doesn’t include this type of coverage so you can add it on in the event your home is damaged or destroyed because of a flood.
For all your homeowners insurance needs, you may want to visit H&K Agency Inc. Their experts will help you understand all the nuances of homeowners insurance and ensure that you get the policy that you need to protect your home.
