Types of Home Insurance

Home insurance comes in many shapes and sizes, but there is some basic information to help you get started. These are some of the most common forms and coverages of home insurance.

A basic home insurance policy typically covers the following four areas:

  • Dwelling: This refers to the structure of the home, including things such as walls, floors, built-in items, and attached buildings, like garages.
  • Contents of the home: This protects your furniture, clothing, and other personal belongings.
  • Liability: If a guest is injured in your home or on your property, personal liability is intended to cover the costs.
  • Additional living expenses: If your home is uninhabitable due to a covered event, this coverage will pay additional costs incurred from having to live away from home.

Optional Home Insurance Coverages

There are many additional coverage types that you can add to your basic policy depending on what you need. Some common additional coverages include the following:

Flood Insurance

Flood insurance is required in some areas, but not all. If you live in or near an area that floods often, you should seriously consider purchasing a flood insurance policy even if it is not required so that your house and belongings are covered. As some parts of Waldron, AR do experience flooding, purchasing flood insurance is a wise move.

Earthquake Insurance

Earthquake insurance covers your home in case of an earthquake. It requires a separate deductible.

Other Structures Insurance

This covers structures that are not attached to your homes, such as a shed or an unattached garage.

Medical Payments Coverage

If a guest is injured on your property, whether you are at fault or not, Medical Payments Coverage is intended to pay for the immediate medical treatments.

The Owens Agency LLC wants to help Waldron, AR residents protect their homes, families, and belongings. Our staff is standing by to help you find the coverage you need, so stop by or give The Owens Agency LLC a call today!