Just like other states, Georgia homeowners are faced with several perils. Ranging from fire, vandalism, theft, and lightning to storms, Georgia homeowners cannot rest easy without home insurance from Peter Laczko Insurance Inc. But before purchasing home insurance for your Woodstock, GA home, here are four things you should keep your eyes peeled for.
Remember to update your home insurance.
If you renovate your home, like adding bedrooms, a garage, and other amenities, you need to update your home insurance policy. If you fail to update your home insurance, additions to your beautiful home won’t be covered in case of damage.
Home insurance isn’t mandatory.
Unlike popular misconception, home insurance isn’t mandatory in Georgia. However, if your home is mortgage-financed, your lender may require you to carry home insurance as long as the loan facility is outstanding.
Home insurance doesn’t protect you against all perils
Home insurance provides the following protection:
- Liability coverage
- Dwelling coverage
- Personal belongings coverage
- Additional living expenses coverage
While home insurance protects you against various perils, it won’t protect against the following:
- Flood and earthquake damage
- Damage from pests and molds
- Regular wear and tear
Your home insurance also gives you limited protection for high-value items like jewelry and cash. As such, talk to your agent for separate insurance covers. You can also consider umbrella insurance to come to your rescue when the liability coverage of your home insurance runs out.
Insure your home against the cost of rebuilding.
Many homeowners make the mistake of using the market value to insure their homes instead of the cost of rebuilding. The rebuilding cost is more accurate since the market value can significantly dip in value due to market forces. In such cases, when damage occurs, the amount compensated won’t be enough to cover the cost of rebuilding.
Do you need home insurance for your Woodstock, GA home? If yes, you can’t go wrong with Peter Laczko Insurance Inc. Call us today for an affordable quote.