Residence Insurance 101: Your Information to Understanding Your Residence Insurance –

Your home is one of the most important investments you will ever make. That is why you should protect it and the valuables it contains with the right home insurance. You want a policy that covers the cost of rebuilding your home as well as the cost of replacing your personal effects. If you received a mortgage to buy your new home, you will need to provide proof of insurance before or when you take out a mortgage.

Here are some phrases that you may be unfamiliar with in an insurance policy:

Additional living expenses: Covers the additional cost of living for a policyholder in the event that they are temporarily evicted from their place of residence.

Content coverage: Also known as personal property insurance, it can help you replace the items in your home if you have a theft, fire, or other type of insured claim or loss.

Deductible: In the event of a claim, the household contents insurance deductible is the deductible you have to pay before your insurer pays out.

Civil protection: While the damage caused by most disasters is covered by a standard homeowner's policy, it's important to know that floods and earthquakes are excluded. For flood protection, you must take out separate flood insurance. However, earthquake insurance can be added to your home insurance with a note.

Apartment: Your home and the structures attached to it (garage, attached deck, etc.)

Liability Insurance: The personal liability part of your home contents insurance covers you against claims for personal injury or property damage that you (or family members or pets) cause to other people.

Insured named: This is the person responsible for the insurance contract, who lives in the apartment and looks after it.

Other structures: Other structures on your property that are not connected to the home but you want to protect.

Owner: The person named on the most recently registered title deed.

Bonus: The cost of your insurance, which is usually discussed in terms of one-year terms.

Replacement cost or actual present value (ACV): Replacement coverage gives you the coverage to replace what you lost, minus your excess. While present value coverage gives you the coverage to replace what you've lost, minus your deductible and depreciation. The replacement cost usually gives you more coverage.

Roof liability coverage: Provides protection beyond liability limits for all of your personal risks, such as: B. Your home, your rental property, your car, your watercraft or your recreational vehicle.

Vacant property: If your apartment is vacant for 30 days or longer due to a move or a new building, important coverages are excluded. After 60 days, these covers plus fire will be excluded. If you plan to be away from home for an extended period of time, check with your insurance agent.

When reviewing your home insurance, it is important to remember that insurance is not just about protecting your belongings. Insurance gives you security. When choosing a provider, choose a provider who values ​​your business. For this reason, Fathom Holdings has acquired Dagley Insurance. Dagley understands what homeowners are concerned about and structures their policies accordingly. Plus, Dagley is about more than just insurance. It's about building lasting relationships through unmatched customer service and care.

Are you ready to help your customers with their insurance matters? Post the Dagley Difference on

Disclaimer of liability

Fathom Holdings Inc. published this content on November 16, 2021 and is solely responsible for the information contained therein. Distributed by public, unedited and unchanged, on November 16, 2021 1:16:01 PM UTC.

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