After buying a home in Eastover, NC home insurance is a necessary part of protecting your property. In many cases, your mortgage lender will require that you purchase some coverage for the house, but the exact requirements that your lender sets and the options that are available can vary.
The basic policy for a house will usually cover against common problems that may arise. It will pay for damages to the interior or the exterior of the house. In most cases, you can also replace personal belongings and even make a claim for the hotel expenses when you cannot stay in your house due to the damages.
Although you can purchase additional coverage for specific needs, the basic policy is usually enough to handle most of your concerns. You should be careful to read the plan before determining that it is appropriate, since policies can vary and the best option can depend on your concerns.
Replacement of Personal Belongings
Using the value of your house as a basic detail, you can usually claim a percentage of that value or the total policy amount to replace personal belongings that are lost in a covered situation.
Depending on the plan, the amount that you can expect will vary. An actual cash value plan will usually only pay for the item after calculating the depreciation rates, so the amount that you are provided is usually less than the cost of replacing the item. Replacement value plans will pay for the total cost of replacing a particular item.
There are options available to protect your house from common risks, but most homes will need a standard plan to protect against potential concerns. To learn more about protecting your property and assets, contact us to talk to an agent today.