Home Insurance: What It Does and Does Not Cover

If you own a house, you probably understand that protecting it is crucial. One of the best ways to do it is to purchase home insurance. Its purpose is to protect you and your home from the unexpected. However, before buying any home insurance policy, you should know what home insurance covers and does not cover. 

What Is Covered By Home Insurance?

It is essential to know that home insurance is divided into two parts – property coverage and liability protection. 

Property protection covers the following:

  • Dwelling
  • Personal property 
  • Loss of use or additional living expenses
  • Other structures
  • Additional coverages

Here is what liability protection covers:

  • Personal liability 
  • Liability 
  • Medical bills

What is NOT Covered By Home Insurance?

Unfortunately, home insurance has certain limitations and does not cover everything. Here is what is usually not covered by standard home insurance:

  • Flood damage
  • Earthquake damage
  • Home insurance and mold
  • Volcano coverage
  • Landslides

If you think you may face these risks or you live in an area prone to the risks listed above, you should consider buying additional special coverage. 

Goodman Insurance Inc. in Shelton, CT – The Insurance Company That You Can Trust

If you are lucky and you have a property in Shelton, CT, or any other nearby area, it is important to have proper and sufficient home insurance to protect your home. If you are searching for an insurance agency to purchase a home insurance plan addressing your needs, do not look any further – Goodman Insurance Inc. will gladly assist you. Our experienced insurance specialists will answer all your questions and provide detailed information about the insurance types we sell. 

Protect Your Biggest Asset With Home Insurance

If you’re like most homeowners, your home is your largest asset and your biggest investment. When you own a home, it’s important to protect that asset by having a home insurance policy. Not only does this insurance cover your home, but it can also protect your finances and your possessions. To get your home insurance policy, call us at Goodman Insurance Inc. in Shelton, CT, and protect yourself and your home. 

Dwelling Coverage

One of a home insurance policy’s most important types of coverage is the coverage for the actual dwelling. This protects every part of your home against a wide range of risks that it could face. Incidents that can damage your home include calamities, accidents, and disasters, and your policy will cover you against many of them. The exact incidents that are covered will be spelled out in your policy. If one of those should happen and your home is damaged or destroyed, the home policy can pay for it to be either repaired or rebuilt, depending on the need. This can save you an enormous amount of money after a damaging incident. 

Possessions Coverage

Another form of protection you get from home insurance is coverage for all your possessions in your home. This coverage can be nearly as valuable as your dwelling protection. When you add up what all of your items are worth, it often adds up to hundreds of thousands of dollars. To protect this investment, you need home insurance to cover it. When items get ruined in a covered incident, your home policy can pay for you to replace them. 

Protect Your Investment

It would be best if you had a home insurance policy to protect your home and what’s in it. Call us at Goodman Insurance Inc. in Shelton, CT to get one.

What to Do When Your Home Insurance Policy Expires

Home insurance is one of those things that you don’t think about until you need it. But when your policy expires, it’s essential to take the time to understand your options and choose a new policy that meets your needs. In this post, we’ll discuss what to do when your home insurance policy expires and how to choose a new policy that fits your needs. We’ll also provide tips on what to look for in a new home insurance policy. By the end of this post, you should have a good understanding of the home insurance process and be well on your way to finding the right policy for you.

1. Examine Your Coverage Needs

When your home insurance policy expires, the first thing you should do is take a look at your coverage needs. If you’ve experienced changes in your life since you last bought home insurance, your coverage needs may also have changed. If you’ve moved to a new home, you’ll need to ensure that your coverage meets the needs of your new property. And if you’ve made any significant renovations to your home, you’ll need to ensure that your home insurance policy covers those.

2. Compare Home Insurance Policies

Once you know what coverage you need, you can compare home insurance policies. There are a few things you’ll want to compare when you’re looking at home insurance policies:

  • The coverages offered: Make sure that the policy you’re considering offers the coverages you need.
  • The deductible: Try and find a policy with a deductible that you’re comfortable paying. However, remember that a lower deductible usually means a higher premium.
  • The premium: Make sure you can afford the policy you’re considering. Remember that the price isn’t the only thing that matters – you also need to ensure that the policy provides the coverage you need.

3. Choose a Policy and Purchase It

Once you’ve compared home insurance policies and found one that fits your needs, it’s time to purchase it. You can usually purchase home insurance through an insurance agent, broker, or insurance company. If you’re buying the policy through an agent or broker, they can help you understand the coverage and answer any questions.

Get Home Insurance in Connecticut

If you’re looking for home insurance, Goodman Insurance Inc. is a great option. We offer a variety of home insurance policies to meet your needs, and our experienced agents can help you find the right policy for you. Contact us today to get started.

Why Every Homeowner Needs Home Insurance

Since home insurance isn’t mandatory in Connecticut, most homeowners might see it as an unnecessary expense. Unfortunately, homeowners without home insurance discover the importance of home insurance when it’s too late. Perhaps after a fire has consumed their dwelling or after thieves have struck and made away with their valuables. But should you learn the hard way to establish the criticality of home insurance? 

 If you have been thinking of overlooking home insurance, think again. Goodman Insurance Inc. of Shelton, CT shares reasons why every homeowner should invest in home insurance.

It may be required

If you are purchasing your home through a mortgage, your lender may insist you purchase home insurance. Why do they care? Home insurance cushions the lender’s investment (your home) from damage. And if you hesitate to buy home insurance, they may procure a forced coverage policy, which is usually expensive. 

Protects you from lawsuits

Since we live in a litigious society, you are better off with home insurance to save you when lawsuits come calling. If someone is injured in your premises, for instance, by your dog, home insurance can save the day by paying for the ensuing medical expenses and legal costs.

Similarly, if you or your family member causes property damage to your neighbor, home insurance covers the damage costs and the possible legal suits.

It protects your most expensive asset

Whether you have built or bought your home, you have put numerous resources into it. Unfortunately, it takes only a few minutes for your investment to go down the drain if some catastrophes were to strike. Fortunately, you can avoid going this route by investing in home insurance. 

For peace of mind

Who doesn’t like peace of mind? Home insurance provides precisely that. With home insurance, you don’t have to keep worrying about a tornado ripping your roof into shreds or a tree falling on your house. While these perils are unavoidable, home insurance covers you when they happen. 

Would you like to cover your Shelton, CT with home insurance? Don’t hesitate to get in touch with Goodman Insurance Inc. for an affordable quote. 

Useful home insurance Tips for New Homeowners

Buying or owning a new home in Shelton, CT can be one of the most exciting times of your life. Regardless of whether you have built or bought a new home in Shelton, CT it’s imperative to purchase home insurance that will safeguard your precious asset and your possessions against theft and damage. The premiums you pay for your home insurance vary by hundreds of dollars depending on the insurer you purchase your policy from. If you are interested in acquiring more information about home insurance policy, connect with us at Goodman Insurance Inc.Additionally, if you are a new homeowner, our agents will educate you on the helpful home insurance tips, including:

Shopping around for the best value

 Shopping around Shelton, CT, is the best way to find affordable home insurance premiums. Contact at least three reputable insurance companies and compare various coverages. But keep in mind that the cheapest policy doesn’t always offer the best value.

Bundling your insurance policies

If you are looking towards saving money on your home insurance policy by getting affordable premiums, it’s prudent to consolidate various insurance policies. Inquire from your insurer how much you can save from buying more than one product, like home and auto insurance policies.

Raising your deductible

The lower the amount of deductible you pay, the higher your insurance premium. Higher deductibles payable to an insurance company are tried and tested to save money on all kinds of insurance policies, including home insurance.

Understanding what is covered 

Mother nature has demonstrated a tendency to wreak havoc on homes. This vulnerability to disasters makes insurance companies not cover many disasters under home insurance. Standard policies typically have exclusions for earthquakes, floods, landslides, and damage from tornadoes in high-risk areas that may not get covered.

Determining the right amount of policy for your home

It’s vital to insure your home at replacement value rather than market value. To get the right coverage, you must establish how much it would cost to repair the property or contact your insurer, who can accurately assess its coverage needs.

Undertaking early shopping and asking questions in Shelton, CT about home insurance is the ultimate way of getting the best deal. Contact us at Goodman Insurance Inc. for more information and queries.

Why do I need home insurance in Shelton?

The Shelton, CT area can be a great place to live and work. Along with this, Shelton continues to be a good place to purchase a home. If you choose to buy a property in the future, you will want to know that you get proper insurance for it. You will need to get a proper home insurance plan here for a few different reasons. 

Home Insurance is Required

A common reason for anyone to get a home insurance plan here is that it is often a requirement for property owners. If you decide to buy a home, you likely will need to finance it with a mortgage. If this occurs, you will have to comply with your lender’s insurance requirements. This usually entails that you escrow your payments each month and have an insurance plan that is acceptable to your lender.

Home Insurance Protects You

It is also a good idea to get home insurance because it can protect you. When buying a home you are going to be getting an asset that you will want to last you for a very long time. You are able to protect this asset if you invest in a full home insurance plan. With this coverage, you will get the protection needed to repair or replace this home. 

Anyone that would like to get a home insurance plan when you are in the Shelton, CT area should call the team with Goodman Insurance Inc. If you choose to call Goodman Insurance Inc. for your insurance needs, you will get the support and guidance that is needed to choose a home insurance plan that is right for you. This can help ensure that your home and valuable assets are properly covered and protected by insurance at all times. 

Does a Home Business Need Commercial Insurance?

Today, most entrepreneurs are operating their businesses at home. There are technological advancements to support home-based businesses, and there is no doubt that this is the future of entrepreneurship. It is a cheap way of dealing with your customers while at the same time staying close to your family. However, if you’re a Shelton, CT resident, you might be wondering whether your home-based business needs commercial insurance.

Every Business Needs Commercial Insurance

According to Goodman Insurance Inc., just because you are operating your business at home does not mean that you are not exposed to the different risks. Your business is still facing the same risks that other mainstream business organizations are facing, which means that you need the necessary commercial insurance policies for your organization. 

Property Insurance

Even when operating at home, you have several properties that you use to run your entrepreneurship. Equipment such as fax machines, printers, and computers are essential in your daily business transactions. You need property insurance to cover the damages or loss of these tools. 

Liability Insurance

You might have customers who have been visiting your home for business purposes. In this case, you need to have liability insurance to cover the damages to the properties or people visiting your home-based business. If you don’t have liability insurance, your organization will have to cover such liabilities. 

Other Coverage

There are other essential aspects of your home-based business that you would like to cover. For example, if you have employees, you need to have employee compensation insurance and other necessities to protect your organization. 

Getting commercial insurance policies for home-based businesses in Shelton, CT, might sometimes be challenging, especially from conservative insurance companies. However, Goodman Insurance Inc., a progressive insurance company, already understands that there are many home-based companies and is ready to provide various insurance types to such organizations.

Three types of coverage you need on your Connecticut home insurance policy

You need to find a home insurance policy in Shelton, CT that will give you peace of mind and financial security. We can help you meet your home insurance needs at Goodman Insurance Inc.

The following are three types of coverage you need on your Connecticut home insurance policy.

Liability coverage

If an accident occurs on your property in which another person is injured, you could be held liable for the resulting expenses. If you have a home insurance policy with liability coverage, your liability coverage will pay for the resulting expenses.

It’s important to have adequate liability coverage to protect yourself against the costs of lawsuits resulting from injuries on your property. 

Contents coverage

Home insurance policies can cover your possessions that you keep within your home. A home insurance policy should include contents coverage to cover your belongings.

When determining how much coverage you need, it’s important to consider the value of the possessions you have in your home. If you have highly valuable items in your home like expensive electronics or collector’s items, you might need to invest in added coverage. 

Water and sewer backup coverage

If the water or sewer lines in your home become backed up in your home, your property could become severely damaged. That’s why it’s a good idea to include water and sewer backup coverage on your policy. This type of coverage can pay the costs of restoring your water and sewer lines to working order. Water and sewer backup coverage can also pay the costs of water damage remediation if necessary. 

Let us answer your home insurance questions in Shelton, CT. Contact us at Goodman Insurance Inc. with your inquiries regarding home insurance coverage in Connecticut. 

What Types of Water Damage Are Covered Under My Home Insurance?

Water damage can have many causes. As a homeowner in the Shelton, CT area, it’s a good idea to know what is covered by your insurance and what is not. While any type of water damage must be repaired quickly to prevent the growth of mold and bacteria, having it covered by your insurance will make the process go must faster. The agents of Goodman Insurance Inc. can help you figure out what your insurance covers and how to file a claim.

Frozen/Burst Water Pipes

The damage caused by frozen or burst pipes is normally covered by homeowners’ insurance policies. This is usually not a preventable event. The extent of the damage will be determined by how quickly the burst pipe is found and the problem is taken care of.

Faulty Plumbing

Faulty plumbing can also lead to water damage. In many instances, a leak or other issue may not be noticed until extensive damage has occurred. Inspecting your plumbing regularly will give you an opportunity to discover problems with faulty plumbing early and prevent water damage.

What’s Not Covered

There are several types of water damage that are not covered by homeowners’ insurance. While water damage caused by strong storms is covered, flood and hurricane damage is not. Those require separate policies. Sewer back-ups are also not covered by many homeowners’ policies.

In Shelton, CT, the agents of Goodman Insurance Inc.can help homeowners go over their policies to determine what types of water damage are covered and which ones are their responsibility. Understanding what a policy includes is important when trying to protect your home. Contact an agent today for and schedule a policy review!

When Can My Home Insurance Provider Drop Me?

Generally speaking, if you’re a responsible Shelton, CT homeowner, if you pay your premiums on time, your home insurance company won’t have any reason to drop you. But it happens. Here are some common reasons why your policy might be canceled:

  • High-risk pets. Certain dog breeds and exotics, like snakes, can be a problem for insurance companies. If you’re considering adopting a new pet, you’ll want to talk to your insurer first and see what’s covered. Trying to keep a pet a secret from your insurer is not worth the headaches.
  • Old roofs. It varies from insurer to insurer, but most will ask that you replace your roof every 20 to 30 years. Decades worth of water damage can add up, and the damage will be felt from the top down.
  • Too many claims. You generally want to file once per term, if you can help it. Your insurer probably won’t immediately cancel your policy for filing twice in a year, but if you’re a habitual claim-filer, they’re going to eventually decide that they’re being taken advantage of.
  • Your insurer is no longer covering your city. This happens all the time, and there’s not much that can be done about it. On the upside, this isn’t going to reflect poorly on you when you go shopping for a new policy, but it will leave you without protection if you don’t plan ahead.

If you’re shopping for home insurance in Shelton, CT, or if you have any questions, get in touch with us at Goodman Insurance Inc. You can visit the Goodman Insurance Inc. website, stop by the offices, or call us, and we’ll get you connected with the protection you need.