Accidents can occur inside a home at any given time. Some might be minor in terms of damage costs, but some might also create financial issues. Carrying homeowners insurance, also known as home insurance, can be an excellent form of financial protection against home-related damage expenses.
How Home Insurance Works
Homeowners insurance works like most insurance policies. Policyholders pay their insurance providers a specific cost called a premium, often monthly or yearly, for financial assistance following a covered incident. Additionally, most policies require the policyholder to pay a deductible for specific claims. The deductible is a designated out-of-pocket cost the policyholder must cover before insurance pays its share.
What Does Homeowners Insurance Cover?
Policies differ among homeowners but commonly include coverage options such as:
- Dwelling coverage
- Other structures coverage
- Personal property coverage
- Loss of use coverage
- Personal liability coverage
- Medical payments coverage
While these options are among the most common, specific homeowners insurance policies might be altered to include additional or alternative coverage options. Contact Cliff Cottam Insurance Services to learn more about policy customization.
How Much Home Insurance Do I Need?
The state of California does not technically require homeowners insurance. However, some lenders might require homeowners to carry coverage if they pay a mortgage because they most likely want proof of financial responsibility. Regardless of requirements, having sufficient homeowners insurance can be an excellent way to limit out-of-pocket accident expenses.
How Much Does Home Insurance Cost?
The cost of homeowners insurance varies. Several factors, including the location and value of your property, your claims history and selected policy limits may impact premiums. Reach out to our professionals for a home insurance quote.
Contact Our Agency
If you own a home near Roseville, California, contact the experienced agents at Cliff Cottam Insurance Services at 916-488-4426 to learn about potential homeowners insurance policies.