The Facts About Home Insurance

Your home is a safe haven for you and your loved ones. It’s probably where you want to raise your family and create long-lasting memories. Whether it’s your first home or a high-value home that you want to invest in, taking up a home insurance coverage is the best way to protect it from unforeseen calamities. If you live in Oregon and surrounding areas, Molina Insurance Group Inc. provides a wide range of home insurance coverage options that suit the varied needs of Oregon residents.

What Homeowners Insurance Covers

A typical home insurance policy covers damages caused by perils like fire, vandalism, lightning, windstorm, and hail. Often, damages caused by earthquakes or floods are excluded, meaning that you need a separate policy for such calamities. Optional coverages are also available and can be added to your policy at an extra cost.

Home Insurance Coverage options

The common types of homeowners insurance are discussed below:

Dwelling Coverage

This policy pays for repair or rebuilding costs for your home in case of damages from a covered peril. Ensure that the coverage limit is adequate for the repair or rebuilding costs of your home.

Other Structures Coverage

If a covered loss affects other detached structures like fences, sheds, or garages on your property, the other structures coverage will pay for the loss.

Personal Property Coverage

This overage caters for damages caused to your personal items like furniture, sporting tools, clothes, electronics, etc. Special limits may apply to other items like jewelry.

Personal Liability Coverage

If someone makes a claim or lawsuit as a result of damages or bodily injuries caused by you or your household members, the personal liability coverage will provide a defense.

Loss of Use Coverage

Sometimes you may be forced to seek temporary accommodation elsewhere when your home is being repaired or rebuild after a covered loss. Loss of use coverage will cater for your additional living expenses.

Molina Insurance Group Inc. is the place to go if you’re looking for flexible and affordable home insurance coverage in Oregon and surrounding areas. Contact us today for a quote.