Homeowners Insurance Information
Homeowners Insurance for Missouri and Kansas Residents
Since 2005, Morehead Agency LLC has been serving Lee’s Summit and the surrounding communities. We’re proud to offer a variety of insurance solutions, including homeowners insurance policies, to Missouri and Kansas residents.
Homeowners face a myriad of risks, but with the right house insurance policy, they can effectively manage these risks. This is because the standard homeowners insurance policy helps protect you financially against damages to your home and the items you keep inside it as well as liability claims.
Reach out to Morehead Agency LLC today to learn more about potential home insurance solutions.
What Is Homeowners Insurance?
Home insurance is a package policy, meaning it covers damage to your property after a covered loss and your liability for injuries and property damage you or members of your family cause to others. There are usually additional coverages or endorsements, also called riders, that you can add to the standard coverages provided by home insurance to ensure adequate protection.
Is Homeowners Insurance Required?
While purchasing a home insurance policy may not be mandated by the federal, state or local government, your lender may require proof of home insurance if you have a mortgage. If you don’t have home insurance, you may be left to cover the replacement or repair costs on your own following an accident or other incident.
What Does Homeowners Insurance Cover?
What is covered under your specific homeowners insurance policy will depend on the type of homeowners policy you choose, as well as any endorsements or riders you’ve added. The most common type of homeowners insurance, known as an HO-3 policy, typically provides the following coverages:
- Structure protection—This portion of your policy provides coverage for your house, also known as a dwelling, in the event of damage from fires, weather, theft, vandalism or other hazards. It may also provide coverage for other buildings on your property, such as fences, carports, gazebos and detached garages.
- Possessions insurance—This portion of your policy helps pay for damage to your belongings. Protection might cover everything from furniture to clothes to electronics. Note that there are generally limits set for personal property coverage under a home insurance policy. High-value items may not be adequately protected unless you purchase additional coverage.
- Liability coverage—This portion of your policy helps cover third-party bodily injury and property damage claims or lawsuits arising from such claims. Coverage will often pay for incidents both on and off your property.
- Additional living expense protection—Also known as loss of use coverage, this portion of your policy helps pay for living expenses (e.g., hotel bills or food expenses) if a covered incident occurs and leaves your home uninhabitable.
You may want to consider adding extra coverages, such as scheduled property endorsements, water backup coverage, service line coverage or an additional personal liability policy. Depending on where you live, you may also need a flood insurance policy as flood damage is not generally covered under home insurance.
How to Get Homeowners Insurance
If you need a homeowners insurance policy or want to evaluate whether your coverage is sufficient, we’re here to help. Give us a call today to get started or request your free quote now.