For many people, their homes are their greatest assets. This includes owners of stunning custom homes in Colorado’s Pradera community. And there’s one thing savvy homeowners have in common: they know that home insurance is vital for protecting one’s largest investment.
But because home insurance isn’t flashy or exciting, it often falls in the category of “out of sight, out of mind.” This fall, set aside some time to review your existing policy—doing so will afford you the peace of mind that even if you’re not thinking about it, your family and your home are adequately protected.
Policy Jargon 101
First things first, let’s get familiar with terms used in the insurance industry. Here are typical inclusions you’re likely to encounter as you peruse your existing policy:
- Liability protection: This important protection covers the unexpected, including injury or damage caused by you, family members, and even pets. Accidents happen, and unfortunately they occasionally result in lawsuits. Carrying liability protection means your insurance company steps in to handle fees and costs associated with a settlement or judgement.
- Dwelling coverage: This coverage relates to the physical structure of a home—walls, roof, foundation, siding, and so on. In the case of a fire, hailstorm, burst pipe, or any other covered unforeseen event, an insurer will assess the damage, estimate the costs to repair your home, and pay out accordingly.
- Personal property: Think of personal property as your belongings: furniture, clothing, jewelry, appliances, books—maybe even spoiled food due to a power outage. Whether items are damaged, destroyed, or stolen, this coverage offers replacement or cash value in the event of a loss.
Home insurance protects what is likely your most valuable investment—so be sure to read and understand your policy’s fine print. What is (and isn’t!) covered? Is there a limit to the coverage? Damage to homes caused by flooding or earthquakes is typically not covered by a standard policy. And although an insurer will pay to cover court fees, repair a hail-beaten roof, or replace a stolen TV, typically the amount it pays is capped—so be sure to know all limits and deductibles associated with the policy and ensure they are sufficient.
It’s wise to carry adequate homeowners insurance on your largest investment, and the peace of mind it offers is priceless. Make an appointment today to speak with your agent and get a policy checkup to ensure your beautiful home is properly protected.
Investing in your future never felt so grand. Pradera is a master-planned luxury community nestled among the rolling hills between Castle Rock and Parker in Colorado’s coveted Douglas County. Residents here enjoy spacious homes from award-winning builder Celebrity Custom Homes. Ready to live a life of luxury? Contact us to begin your journey of custom homeownership today.