Homeowners Insurance in Medford, OR
You may know homeowners insurance by several names, including home insurance and house insurance. Whatever you want to call it, this type of insurance is critical for protecting your property, both inside and outside your home.
What is homeowners insurance?
Homeowners insurance is coverage designed to protect your home and its contents. In a basic sense, this insurance is designed to help pay for unexpected damage to your property.
What does home insurance cover?
Homeowners insurance can protect your property against a variety of perils. A standard home insurance policy may include the following components, among others:
- Dwelling coverage can help protect the physical structure of your home, including attached structures such as a garage or deck.
- Contents coverage, also known as personal property coverage, can help pay for damage to personal belongings inside your home.
- Liability coverage can help pay for legal expenses if a third party (e.g., a neighbor) is injured on your property and files a lawsuit.
These are only some of the coverages that may be available for your homeowners policy. It’s important to note that home insurance policies include claims limits in most cases. As such, speak with an insurance agent to determine adequate coverage levels for your circumstances.
How does homeowners insurance work?
Homeowners insurance works similarly to other forms of insurance. You start by working with an agent to select a policy that meets your needs. You pay regular premiums to the insurance company and, in exchange, you can submit claims for covered damages that occur to your property while the policy is in effect.
Is home insurance required?
Homeowners insurance is generally not required by law. However, many lenders mandate home insurance as part of a mortgage agreement. Similarly, some housing associations may require it as part of their agreement. Even if it’s not legally required, home insurance is a vital safeguard against unexpected losses.
Where can I find affordable home insurance?
The professional and knowledgeable agents at World of Insurance LLC in Medford, Oregon, are here to guide you on your home insurance journey. Our team can review options from numerous home insurance companies to find you the right quote at the right price. Contact us today to get started.