Homeowners Insurance – Canzell
By Daniel Brown | September 4, 2018 | Comments Off on Homeowners Insurance
Homeowner’s insurance protects you and your house against losses from fire, theft, liability, vandalism, water damage, wind damage, tornadoes and loss of use. Earthquake and flood insurance are not included but can be purchased separately.
A broad-form policy is more inclusive than the standard policy and covers additional named perils such as glass breakage, smoke damage, etc.
It is important to understand that the replacement value of your home is based on your insurance company’s estimate of the cost to rebuild your home on your property. It is not based on the purchase or appraised value of the home. Most policies have a built-in annual increase of replacement cost coverage.