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Your Home is Your Biggest Investment
In addition to being required by your mortgage holder, you want homeowners insurance for your family’s security. O’Donoghue agents can help you select the most appropriate coverage for your home. See what our agents can do to keep your coverage affordable and comprehensive.
How does homeowners insurance protect me?
Your homeowners policy covers damage to your home and personal property due to fire, theft, accidents, or other causes. The personal liability portion of a homeowners policy provides coverage if a visitor slips on your walk on a rainy day and suffers injury.
Standard homeowner policies provide:
Coverage for damage to your home and any permanent structures on your property (unless the cause of the damage is specifically excluded in your policy, like a flood).
Damage to your personal property due to certain causes.
Limited coverage for personal items damaged by peril or stolen from your home.
Coverage for personal liability that can occur as a homeowner.
Coverage for additional costs you might incur due to a covered loss, like temporary housing.
Why is renters insurance necessary?
Renters insurance provides financial protection for tenants by covering their personal belongings against theft, fire, vandalism, and other covered perils. Additionally, it includes liability coverage which protects tenants against legal claims for bodily injury or property damage.
Rental insurance policies typically cover:
Personal property coverage protects your belongings, such as furniture, electronics, clothing, and appliances, against covered perils like theft, fire, vandalism, and certain natural disasters. This coverage typically reimburses you for the cost of repairing or replacing your damaged or stolen items, up to the policy's limits and after the deductible is met.
Liability protection covers you if you're found legally responsible for injuring someone or damaging their property, either inside your rental unit or elsewhere. This coverage helps pay for legal fees, court costs, and settlements or judgments if you're sued for bodily injury or property damage caused by your negligence.
Additional living expenses (ALE) coverage reimburses you for the extra costs you may incur if you're unable to live in your rental unit due to a covered loss, such as a fire or severe storm. Coverage typically pays for temporary lodging, meals, and other necessary expenses incurred while your rental unit is being repaired or rebuilt.
Medical payments coverage, also known as "med pay," covers medical expenses for guests who are injured on your property, regardless of fault. This component of renters insurance typically pays for immediate medical treatment, such as doctor's visits, hospital stays, and ambulance services, up to the policy's limits.
Have more questions? Contact Us today and speak to an agent.