Owning property is part of the American dream — but to have lasting peace of mind, it is essential that you have insurance coverage. Even more important than simply having coverage is making sure that you have the right type of coverage for your needs. Here’s what you need to know.
UNDERSTANDING HOME & RENTAL PROPERTY COVERAGE
Getting coverage for your home or rental property is an absolute must — in fact, it’s typically mandatory when dealing with financial lenders and renter’s associations. While coverage amounts should typically be based on the value of the building on your property, there are additional factors to consider. For example, deductibles influence how much you pay out of pocket before the insurance covers any needed repairs, while also influencing your annual policy rate.
WHAT ABOUT HOBBY FARMS?
Hobby farms present a unique property insurance situation, and as such, they require their own distinct coverage. Property coverage covers farm buildings, machinery, and livestock, as well as personal property. However, hobby farms also need liability coverage, particularly if you offer amenities like horse riding. Full coverage will provide much-needed peace of mind as you operate your farm.
FINDING THE RIGHT COVERAGE FOR YOU
Getting the right type of coverage is essential for protecting your property and finances. If you have additional questions, feel free to contact one of our agents. With friendly, personalized service, we’ll help you find the best policy for your needs.