Debra Daniels Uncovers Interesting Facts about Homeowners Insurance

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olympia insuranceOk, you’ve finally taken the plunge and purchased a home.  The mountain of paperwork is behind you and now comes the fun part: unpacking, decorating, and settling in.  While bank-facilitated purchases require the addition of Homeowners insurance to protect their investment, it’s a wise move in any situation.

Statistics show that while 95% of homes are insured, 64% are underinsured.  This is where the skilled knowledge of your agent comes in handy.  Seasoned brokers like those at the Debra Daniels Insurance Agency know the in’s and out’s that a layperson might miss.

Says Daniels, “Did you know that if you do not have ‘Back Up of Sewer and Drain’ on your homeowner’s policy a backup into your home may not be covered?  If a tree root grows into the sewer pipe, causing a backup into your home, and you do not have an endorsement for ‘Back Up of Sewer and Drain,’ there may be no coverage.  Messy place to find yourself, so check with your homeowner’s insurance to make sure this doesn’t happen to you!”

For those buying properties as rentals, there are also tips and tricks that can save you money.  One simple rider, included with a State Farm rental policy, provides an added layer of financial security.  As Daniels explains, “Did you know if you own a rental property and your renter starts a fire in your kitchen, there is coverage on a ‘Rental Dwelling Policy’ for loss of income?  This coverage will protect you from loss of rent while your Rental Dwelling is being repaired, and a renter is not able to live in the dwelling. While you are still responsible for your mortgage payment, you’ll have income coming in thanks to your ‘Rental Dwelling Policy’.”

Not everyone needs specialty addendums on their policy but it’s always best to chat with a professional to decide what’s best.  Debbie and her staff are always willing to chat on the phone, via email, or in person.  Reach them at 360-493-8284 or 8765 Tallon Lane NE, Lacey.

 

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