What Does Homeowners Insurance Typically Cover?
Did you know? There are several fault lines in Kentucky and there have been 77 earthquakes in Kentucky on record since 1931 (www.homefacts.com).
What many people don’t know is the property coverage on your home insurance does not cover losses caused by ground movement, including earthquakes. That’s why many homeowners in Kentucky choose to add earthquake coverage to their homeowners insurance. That way, when the next earthquake happens, they will be ready.
Income Property Insurance
Do you own investment properties? For both commercial and residential rentals, as a landlords need to protect their property as well as their liability. What if something happens that stops the rental income for multiple months. Property damage, fire, vandalism, personal injury and things landlords need to be prepared for.
A good landlord policy covers many of those risks. With access to dozens of carriers, Cornerstone Insurance can make sure you have right company for the type of properties and locations you have invested in.
If something happens to your home that causes injury to an individual, your homeowner’s insurance can help protect your assets in the case a claim is filed against you.
Personal Property Coverage
If any of your personal property is damaged, your insurance can help reimburse you according to your insurance policy. Your personal property can include clothes, furniture, and more.
Personal Umbrella Insurance
Did you know the injured person, or their insurance company can go after your assets, and even your future job earnings, if you don’t carry enough insurance?
That’s why an umbrella policy is often necessary. Also described as an “excess liability policy”, an umbrella policy is designed to protect you and your assets from claims that exceed the limits of your underlying home and auto policies.
That way, you have the protection you need, even if your liability exceeds one million dollars.
Physical Damage Coverage
If your home is damaged, your homeowner’s insurance policy can help cover any losses. If the damage to your home is substantial and it causes you and your family to relocate, your insurance can take care of the relocation costs as well.
Renters Insurance for Rental Properties
Do you rent a home or apartment? Renter’s insurance is designed to protect your property if it becomes stolen or damaged. A good renter’s insurance policy also covers your liability if you are found liability for someone else’s loss.
Many landlords require their tenants to carry renter’s insurance, but even if they don’t, you can protect your property and liability, in many cases for less than a dollar a day.
Valuable/Expensive Item Insurance
Your prized possessions need to be protected. Typically, expensive item coverage is provided in addition to an existing homeowner’s insurance policy. Valuable items can include jewelry, fine arts, computers and more. This type of coverage can give you peace of mind knowing that these expensive items are covered.
Choose Cornerstone Insurance Agency, LLC
Our team can find competitive pricing for your customized homeowner’s insurance policy. We work to show you the different types of coverage options available and recommend what will work best for you and your family. Keep your home protected as it is the most valuable physical asset that can be passed down through generations. Give us a call today at 502-785-9808 to get started on your quote.
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7321 New La Grange Road Suite 140 Louisville, Kentucky 40222