Homeowner’s Insurance

Charles Goodman Group: Trusted Armonk Insurance Broker

With homeowners already being responsible for a wide variety of costs associated with home ownership, a person may question whether they really need to have homeowner’s insurance. While this type of insurance policy may seem like a waste of money, a Armonk insurance agent may recommend the extra expense in order to protect the homeowner in the event that a catastrophe occurs.

Homeowner’s insurance covers any damage that may be caused to the person’s home or possessions by certain natural disasters or even theft. Depending on the plan, the insurance policy may cover damages caused by fire, wind or hail. Homeowners who live in certain areas that are known to be affected by earthquakes, tornadoes or flooding may wish to ensure that their policies cover those particular climate events.

If a home does sustain damage that is covered by the homeowner’s policy, homeowners can start recovering from the incident by filing a claim with their insurance company. The company will have an adjuster visit the property to evaluate the damage and determine the costs that it would take to make the repairs.

An insurance agent from the Charles Goodman Group of Armonk would be happy to answer any question you have about property insurance or health insurance.

The insurance company will then settle the claim based on the adjuster’s estimation, though the homeowner may negotiate with the insurance company if they feel that the offered settlement is not enough.

In addition to the actual structure, homeowner’s insurance may also cover certain household items should they be damaged or stolen. The insurance company should replace the item as long as the value of the item is known. Additionally, it is recommended that homeowners either videotape or take pictures of the items so that they can be more easily replaced or the homeowner can seek the value of the damaged or stolen property.

Certain homeowner’s insurance policies may also cover any injuries that a person may suffer while on the homeowner’s property. For example, if a neighbor’s child trips on the front steps and breaks their arm, the policy may cover the child’s medical costs if the family decided to hold the homeowner liable.

Some homeowners may wonder if they really need an insurance policy, especially if they have the finances to cover any damages or if they do not live in areas known for major natural disasters. It is recommended that homeowners protect themselves against the risk of, at the very least, fire and flood damages, as both fire and flooding could result in the home being completely lost if the damage is severe enough. Additionally, if someone does suffer an injury on the property, insurance protects against potentially expensive lawsuits.