For most people, buying a home is the biggest investment they'll ever make. Because your home is so important and valuable to you, it is crucial that you protect it appropriately with homeowners insurance. Although this type of insurance coverage is not required by law, it is foolish not to protect such a valuable investment. We have many companies and options to offer everyone in Arizona and we love taking care of our close neighbors in Chandler, Sun Lakes, Gilbert, Queen Creek, San Tan Valley and throughout the east valley.
Even though the law does not mandate homeowners insurance, you may still be required to have it. Most mortgage lenders will not extend a loan offer if you don't agree to maintain insurance coverage for the life of your loan. Without proof of coverage, your lender may purchase insurance for you, often at a much higher price than you'd find on your own.
The first coverage component your Arizona lender will likely require is hazard insurance for the dwelling itself. This applies to the physical structure of the house only, not its contents. If your home is damaged in a fire or other disaster, this coverage can help pay to repair the damage. It is a good idea to maintain at least enough coverage to rebuild your home entirely which is referred to as estimated replacement cost or value. It is important to note, though, that the cost to rebuild is not tied to the resale value of the home, but to the cost of the materials and labor required. Stover Strong Insurance Brokers will help you determine what coverage amounts you need for your home in Chandler, Gilbert, Sun Lakes, Queen Creek, San Tan Valley or wherever else you live in Arizona.
The other primary category of homeowners insurance in Chandler is liability coverage. This will protect you if someone is injured while on your property. This can include visiting friends and family, contractors and other workers, and even door-to-door salespeople. If an injured person decides to sue you, your liability coverage can take care of their medical expenses so you don't have to pay for them out of your own pocket. It is best to get as much liability coverage as you can reasonably afford. property damage coverage.
Finally, though most lenders won't require it, you also want to include personal property coverage. This is what you'll need to replace any of your belongings that are damaged or stolen. The more coverage you can afford, the better for your peace of mind. Keep in mind, if you have jewelry, fire arms, high value collectibles you will want to tell your agent about this so we can add the proper coverage.
Don't let an unforeseen disaster force you out of your home. Get in touch with the homeowners insurance experts here at Stover Strong Insurance Brokers to review your Arizona coverage options and give your home the protection it deserves. We'll answer all of your questions and help you determine the most appropriate coverage levels to adequately protect your home. Call now to get started. We are to serve our neighbors in Chandler, Sun Lakes, Gilbert, Queen Creek, San Tan Valley and throughout all of Arizona.