Homeowners insurance is something that every homeowner needs and while you never want to have to use it, it is vital that you have it in case of an emergency. Did you know that water damage is the most common (and costly) homeowners’ property insurance claim? Keep in mind, you don’t have to live in a flood zone to be hit by this kind of property loss. Roof leaks, bursting pipes and drainage issues are also contributing factors to water damage in your home.

It is vital that you review your policy so you know what is covered in and to make sure you are adequately cover this kind of loss.

Don’t get caught short in case of an emergency and your property suffers any kind of material damage.Do your homework when you select your insurance company and policy. Property insurance claims vary based on geography and even neighborhood, so it is also important to understand what the risks are for your address,

According to Allstate Insurance Company, below are some common types of property claims.
• Hail
• Water
• Wind
• Theft
• Physical damage (other)
 
Each area is different so be sure that you understand the specific risks associated with your neighborhood and that the policy you choose protects you from those kinds of damages.

Allstate offers a great tool called the Common & Costly Claims, check it out on their website www.allstate.com. Simply put in your zip code and the tool offers the top five property claims and the average cost by zip. This tool can help you determine the kind of policy or rider that you may need to make sure your home is safe and that your assets are protected.

It’s also a good idea to work with an agent so that you understand exactly what your policy covers; and in the event of a claim, how to recover the full value of your belongings or real property. Certain policies also cover temporary housing or living expenses for catastrophic loss- make sure you take full advantage of the premiums you pay!

 

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