Being a homeowner in Arvada, CO doesn’t have to be complicated; neither is home insurance. However, reading your insurance policy and learning about critical components of your policy, such as your coverage limits and the amount of coverage you need, goes a long way towards providing a financial safety net. That means asking important questions. If you’re not sure what to ask, here are some of the questions you should ask.
What would be the cost to rebuild my home currently in the event of a loss?
This is an important question if you want to know the amount of home insurance you need. Your insurance company can easily determine the cost of building material and labor in your area to come up with your home’s approximate value.
What factors can affect my home insurance rates?
All insurance companies, including Alliance Insurance Services, have their unique way of calculating insurance premiums. However, they use several general factors to come to their conclusions, such as the safety of the area you live in, the number of people living in your home, the size and material used to build your home, and other features in your home such as a swimming pool, home office or trampoline.
Is water damage covered in my policy?
Most insurance policies in Arvada, CO, cover water damage. However, damage from flood water is not covered. Your insurance company should explain the difference between water damage and flood damage. Generally, water damage is caused by a broken tap, burst pipe, or clogged sewage system.
Should I get a separate policy for valuable items?
Your insurer may want to see your valuables to determine whether they can be included in your personal belongings or not. In most cases, money, guns, jewelry, artwork, and fur may require a separate policy.
If you’re confused about discounts, coverages, and limits, reach out to Alliance Insurance Services and speak to one of our insurance agents. They will show you examples and provide you with several options. Call us today!