Home insurance is vastly important when you cross that adult milestone into home ownership. In New York, home insurance is not a requirement for home ownership, however, the benefits of having your home insured far outweigh the out-of-pocket expense on monthly premiums. What kind of policies are out there for home owners to employ?
Dwelling and other structures cover a wide range of aspects, the dwelling part covers damages to anything to the structure and anything attached to the structure. The “other” part of the equation usually covers structures on your property that are not attached to your home. This would cover things such as detached garages, sheds, guest houses, etc. In most policies, the “other” coverage is affixed onto your main policies as a rider which would require an additional purchase.
Personal Property coverage covers the homeowner for things such as damage and burglaries to your possessions that are located inside the house. Loss of Use coverage also covers you in case you need to live elsewhere for a time while your house is being repaired. This would be ideal in cases where you need to rent a different house or stay at a Hotel for a time.
Then there is Medical Payment coverage which pays out to other people that may have an accident on your property. This covers their medical bills and protects you from the possibility of litigation in those circumstances.
As you can see, there are a lot of different variables when it comes to homeowner’s insurance in New York. The Wasiczko Agency can provide you with the best coverage at the best premium rates. Contact an agent at The Wasiczko Agency today for a consultation & quote.