Homeowners Insurance FAQ
Is homeowners insurance required?
Your state may not require homeowners insurance, but your mortgage lender may require coverage in order to provide a home loan.
When should I get homeowners insurance?
Some mortgage companies will require you to have homeowners insurance prior to giving you a home loan. Purchase homeowners insurance before you contact a bank or mortgage company for your loan.
How much does homeowners insurance cost?
There are many factors that affect the cost of homeowners insurance. Contact Insure One for a free homeowners insurance quote.
How does homeowners insurance work?
Homeowners insurance provides financial protection if your home is damaged or destroyed. It can protect from theft, burglary, fire, storms, falls, and more.
Is homeowners insurance included in the mortgage payment?
It is not included, unless it is escrowed.
Where can I get homeowners insurance?
Insure One offers reliable homeowners insurance that will protect you and your family when you need it. Speak to an experienced agent today to get started. Call 800-836-2240.
Can I get a free homeowners insurance quote?
Yes. When you call Insure One, we compare rates from the top insurance companies to give you a quote that works best for you. Let us do the hard work for you. Call 800-836-2240 to get started.
What types of homeowners insurance policies are there?
Replacement cost homeowners insurance policy pays claims based on the cost of rebuilding or repairing your home at the time it is damaged or destroyed. An actual cash value homeowners insurance policy pays claims after accounting for any depreciation in your home’s value.
Do I need to make a list of my belongings for home insurance coverage?
Yes. The cost of your homeowners insurance will be affected by this. Make a list of all of your possessions, including furniture, jewelry, electronics, etc. Your homeowners insurance provides protection for your belongings.
What are the different types of home insurance deductible options?
- A flat deductible is a specific or fixed dollar amount
- A percent deductible is a percentage that it is based on the home’s dwelling coverage, often called Coverage A.
- A split deductible means there is a specific deductible that applies to some cause(s) of loss and a different deductible that applies to other causes of loss.
Do I need to take an inventory and photographs of my belongings?
Yes, this will be helpful if you ever need to file a claim.
Am I covered for earthquake damage?
No. Earthquake coverage is a separate coverage.
What does a home insurance policy not cover?
Homeowners insurance policies typically do not cover the following:
- Nuclear hazard
- Neglect or failure to make repairs
- Corrosion, deterioration, decay or rust
- Wear and tear
- Increased cost due to enforcement of any building ordinance or law