4 Lesser Known Benefits of Home Insurance for Phoenix, AZ Residents

Home insurance has a lot of advantages that the average consumer is already aware of, but what they don’t know is that there are hidden benefits many insurance owners don’t know about.  Schaller & Thomas Family Insurance has listed four of the lesser known benefits of home insurance.

Policies can cover losses resulting from pet bites

This may come as a surprise, but liability coverage from home insurance may also cover dog bites at no extra cost.  The average policy gives coverage from $100,000 to $300,000 according to the Insurance Information Institution  (III).  The base amount defenders can claim for dog bites is up to $26,000 which makes this coverage an added benefit if you require protection.

The policy may cover restoration damages after loss

If a flood or torrential rains ruin clothing, linen, or bedding and mold also does damage after the initial wetness the insurance might also cover the additional losses due to mold as well as the damage done by the flooding or rain.   For instance, if it is a legal requirement for you to have storm shutters to prevent water seepage in your home the insurance policy may cover the cost for the shutter and the damage done to the home from water.

You insurance might cover damage from power outages

If you sustain damages that cause you to discard food spoiled in your refrigerator you might benefit from it.  Most homeowners insurance covers for loss of food items up to $500.

You policy might cover family members away from home

As long as your child is in a dormitory even if they travel far from home for school, your policy might cover their belongings in their home and off-campus housing where students need renters insurance policies.

How Does Home Insurance Add Value to Your House

Your home is probably one of the most expensive things you will ever purchase in your lifetime. This makes it vital that you do everything you can to help to protect it and help keep its value. This not only means maintaining the mortgage and keeping up with repairs, but also having adequate home insurance.

Adding Value

While home insurance does not directly add value to your home, having the right amount of coverage helps you not lose value. For example, if you have made significant home renovations, and something were to happen, if your coverage is not adequate you will end up paying out of pocket for repairs. So whenever you make a major addition to your home, it is very important to update your insurance coverage to match the new value of your home.

Another overlooked change for a lot of homeowners is when they purchase a new “big ticket” item for the inside of the home, such as a new hot tub, big screen television, or even a new bedroom suite. Coverage has limits to the amount it will protect, so if you have made large purchases there is a chance you could have more item value than what your coverage will cover.

If you have made any big additions, renovations or purchases recently, it is time to review your policy. Contact the professional agents at Schaller & Thomas Family Insurance, serving the Phoenix, AZ area. Our agents are here to help you get the right policy for your home. Contact us today and we can get you all of the information you need and even offer you a quote.