Homeowner insurance is essential coverage that no Richmond homeowner should be without. Whether insurance coverage is required by your mortgage lender or you are just looking for a bit of peace of mind, homeowner insurance will protect your home against any damage while also securing your finances in the event of a lawsuit if someone is injured on your property. Here's what you need to know about homeowner insurance coverage. 

The Basics 

A standard homeowner insurance policy in Richmond will cover your liability to protect you against lawsuits. If someone gets hurt while in your home or on your property, your insurance will cover their medical expenses and any additional compensation for lasting pain and suffering. This way, you won't run the risk of losing your Richmond home or other possessions to cover the costs of a lawsuit. 

Your policy will also cover the structure of your home. If, for example, lightning strikes a tree on your property, causing it to come crashing through your roof, your policy would likely cover the repairs. You may also be eligible to claim compensation for alternate housing costs if you need to vacate your Richmond property during the repair process. 

Optional Add-Ons 

If you have a mortgage on your home, your lender will typically require you to have at least the basic coverage discussed above. However, you don't need to stop there. A standard homeowner insurance policy won't cover your belongings, so you'll need to add extra coverage for your Richmond home's contents, including appliances, furniture, clothing, children's toys and more. 

For items that are of high value, like engagement rings and fine art, you'll need additional coverage. Your insurance company will likely ask for verification of the value of the item, like an appraisal or bill of sale. 

Natural disasters typically aren't covered by basic homeowner insurance policies, so you'll likely want to add this coverage as well, especially given that floods and earthquakes can cause significant damage to Richmond homes. Each additional coverage option you choose will increase your monthly premium, but it is well worth the added cost to ensure you are protected. 

Update Your Homeowner Insurance Policy Today 

The dedicated insurance agents here at Hart Insurance Group are standing by to assist you with a homeowner insurance policy for your Richmond home. We'll take the time to go over each coverage option with you in detail, answering any questions that arise along the way. Get in touch with us at 281-419-1656 today to get started.

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