What you need to know about home insurance – Part 2
Welcome to part 2 of our insurance interview with our friend and insurance agent Kim Demchuk with Allstate Insurance.
Your homeowner’s policy is one of the most important pieces of insurance that you can purchase. The purpose of insurance to put the homeowner back in the same position prior to a loss, it provides coverage for sudden and accidental losses. Insurance is not a warrantee or maintenance package as it does not provide coverage for wear and tear or a maintenance issue.
As an Allstate Insurance Agent Kim encourages her customers to review the packages that may be available but recommend the All Risk, also known as Comprehensive coverage. By purchasing an All Risk package, you are provided with a package that is well rounded and provides for the unexpected. The policy is set up to cover you for everything which is why it is named “All Perils” with a list of exclusions where coverage is not provided and usually not available in the industry. Coverage that you would not have considered will be provided under this type of policy such as Ice Damning, Accidental Damage and mysterious disappearance.
A named perils policy provides basic coverage for only a limited listed of items – so essentially if you don’t find it on the list it is not covered. Perils such as theft can be very restricted where there must be visible signs of break and entry.
There are also special limits on certain items within a home policy. This may include jewelry, money, a collection and much more.
Insurance coverage will vary by Insurance carrier so we encourage you contact your agent to complete an annual review to ensure that your home is insured to the correct value, that you are getting all of the discounts available and that you have the proper insurance package. Ask your agent to review your home package – is it the All Risk Package? What are the exclusions to my policy?
Last week we also shared that a few years ago when we switched all of our insurance over to Kim, she was able to save us over 25% from our last company. We have been so thankful for her as she always is a quick text or phone call away. If you’d like to see how her rates compare, contact her at 780-800-0642.
Jason Rustand with RE/MAX Real Estate serves with the highest level of integrity and excellence every time. For more info on this topic or others related to real estate contact LIKE our Jason Rustand Team Facebook page, call Jason direct at 780.919.0004, email email@example.com or visit WeSellLeduc.com