While you make your house a home, your insurance policy is quietly working in the background not only because of the damages that could happen to your home and the things inside it but also because of the potential for liability and lawsuits. At Anton Insurance, we help Columbus area homeowners find policies with broad protections that minimize vulnerability to risk, all at competitive, affordable rates.
Covered Damages and Loss
Homeowner’s insurance policies outline the types of loss events for which coverage is available for the main structure of the home, other structures, and personal belongings. Depending on the type of policy you choose, this could include only specific named perils, such as fires and high winds, or it could include much broader protection that only excludes coverage for certain named events. Generally, homeowner’s coverage protects against things like:
- Fallen objects
- And more
You may also have the opportunity to add endorsements that enhance the coverage of your policy. For example, a water overflow and sewer backup endorsement may help protect your home and belongings against damages if your sump pump fails and water overflows into your home.
Wisconsin Home Insurance Coverage
Wisconsin homeowner’s insurance policies are divided into sections that outline various types of coverage. Although your exact coverage may vary depending on your policy and insurer, a standard homeowner’s insurance policy includes protection against:
The structural damages coverage in your policy may be divided into two sections – one for the primary structure of your home and the other for the subsidiary structures on the property, such as a detached garage, fence, or storage building. When selecting your coverage, consider the cost of cleaning up after a damaging event, as well as the cost of labor and materials for rebuilding your home in today’s costs (not the price you paid for the home). Our team can help you make important choices about your structural damage coverage, as well as show you ways of saving money, such as by raising your deductible.
In addition to structural damages, Wisconsin homeowners insurance can also cover damages to your personal belongings, both at home and away from home. Whether a fire destroys all of your furniture and other possessions or thieves steal your family’s bike and gear while you are out riding, the personal belongings coverage in your policy can reduce the cost of a major loss to little more than your deductible.
Although many insurance companies set default personal property coverage equal to 50 percent of the structural coverage, you may need additional protection. By taking inventory of your belongings, you can assess their worth and what your financial loss would be after a damaging event. If you have certain high-value items, such as fine jewelry or firearms, you may need to schedule additional coverage, as most homeowner’s insurance policies limit coverage for those items.
Be sure to talk with your agent about the difference between actual cash value and replacement value coverage for your belongings. Although ACV coverage typically comes standard with a policy, it only covers items based on their depreciated value. With a replacement value endorsement, however, your insurer may instead reimburse you for the full cost of replacing your items with new ones after a covered loss.
If you are sued by a third-party, your homeowner’s liability insurance could stand between you and tens or even hundreds of thousands of dollars in personal losses. Liability insurance typically protects your family against third-party injuries and property damages that occur on your personal property or as a result of an accident that occurs away from home. Although it generally excludes certain events like car accidents, it could help you afford legal fees, and judgments due to litigation after your child hits a dog with her bicycle or a party guest fall through the decking in your backyard. We typically recommend high liability coverage limits, as you may be held personally responsible for any damages in excess of your coverage amount.
When guests suffer minor injuries in your home, no-fault medical payments coverage can help pay for the necessary medical bills up to the limits of your coverage (usually a few thousand dollars). This coverage is not a replacement for liability coverage, and the issuance of these benefits does not remove the potential that you may still be sued, but it could provide just enough financial assistance to help you avoid litigation.
Temporary Living Expenses
It may be overwhelming to find out your home has been destroyed or badly damaged. Where will you live while it is repaired or rebuilt? How will you afford hotel charges or rent payment and still keep up with the mortgage on your property? Where will you do your laundry or prepare meals for your family without your laundry room and kitchen? Fortunately, homeowners insurance may include coverage for extra living expenses incurred as a result of a covered event.
Affordable Wisconsin Home Insurance
If you are a homeowner in Columbus, Wisconsin or are currently in the market for a new home, we here at Anton Insurance want to help you get the coverage you need at an affordable, budget-friendly price. As an independent agency, we can shop and compare rates on your behalf and also show you how to qualify for certain money-saving discounts, such as savings for:
- Having no recent claims
- Purchasing auto insurance or other lines of coverage from the same carrier
- Installing a home security system
- Purchasing a new roof
- And more