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Homeowners Insurance

Stearns Home InsuranceWhen it comes to insurance, homeowners insurance is by far the most common type.  It is sometimes called property insurance covers your owner occupied residence for damage to the structure and contents.  Homeowners insurance is designed to make you financially whole when there is an event which damages or causes you a financial loss. Each coverage type has a limit to which the insurance carrier will pay for your damages and each one is specific to the area of your property that is damaged.  It is best to be properly insured for the full value of replacing your home.  Less coverage will cause a shortfall if you need to rebuild.  Stearns Insurance Services as the expertise to help you get the right coverage for you home.  Call our offices at (888) 214-7525 or request a free no-obligation online quote.

Homeowners insurance is different from other types of insurance in that it covers both the structure and the contents within it.  In the industry it is called an HO3 insurance policy.  Other insurance policies, such as a Dwelling Policy (DP3) only cover the structure and not the contents of the home.  Dwelling policies are best suited for leased properties.

Stearns Helpful Tip…
Most homeowners insurance policies come with jewelry limits around $1,000-$2,500.  Do a quick mental inventory of what you own.  Can you replace it all with that amount?  What about a $1,500 per piece limit? Are some pieces worth more than $1,500?  The solution is to schedule coverage for specific items like wedding rings and upscale watches.

Stearns Home InsuranceHomeowners insurance not only covers repairing and replacing the structure of the home but also the contents with it.  All your personal belongings, appliances, clothing, furniture, electronics etc.  It will repair or replace items damaged from fire, wind, water (excluding flood) and theft.  Be an educated consumer and know the difference between actual cash value (ACV) and replacement cost coverage.  ACV coverage will only pay out the depreciated value of your belongings, where replacement cost will pay whatever it costs to get the same unit brand new from the store shelf.  This difference can be a lot of money when it comes to replacing appliances, electronics, clothing and furniture.  Have our expert agents look over your homeowners insurance policy to be sure you are getting the coverage you want.

Mortgage companies will require the owner to have insurance on the property to protect their interest in the home as well.  This coverage, if not obtained by the owner, will be placed on the property at a significantly higher cost and with less coverage.  Don’t let this happen to you, call our knowledgeable insurance experts at (888) 214-7525 or submit your request online.