Protect Your Home With the Right Insurance Policy?
What home insurance policy is right for you? We hope to help you better understand what the benefits of a home insurance policy is and why it’s important to take a look at your current policy. Homeowner insurance protects you from unexpected repair and replacement costs if an event damages your home or personal belongings or you become the victim of a natural disaster such as fire, flood or other disaster
We’re spending a lot more time at home these days, but are we protected? And we can only count on our pets for so much. The best home insurance policies will be those that suit your needs. We hope to help you better understand what the benefits of a home insurance policy is and why it’s important to take a look at your current policy.
What is a Home Insurance Policy?
Homeowner insurance protects you from unexpected repair and replacement costs if an event damages your home or personal belongings or you become the victim of a natural disaster such as fire, flood or other disaster.
Most home insurance policies are bundling these types of coverage together:
Dwelling Coverage: Protects the structure of your home from theft and almost any disaster you can think of (except for floods and earthquakes).
Other Structures: Covers things like sheds and detached garages on your property.
Personal Property: Covers cost of replacing contents of your home.
Loss Of Use: Expenses you incur while your home is uninhabitable, like staying in a hotel.
Personal Liability: Protects you against lawsuits filed by those who were injured on your property.
Medical Payments: Covers the medical expenses of those on property who are injured and do not sue you.
When was the last time you checked your own policies?
Our world is changing at a rapid rate and so are the insurance policies. Finding out you are not properly covered after it is already too late is an avoidable nightmare scenario.
To find out which home insurance is right for you, call our office and let’s see what will work best for you.
Are You Prepared with Sewage Backup Insurance?
Sewage back-up issues can cause thousands of dollars worth of damage to floors, walls, furniture and electrical systems. Many people assume that the sewage protection (swamp and pump overflow) is covered by their homeowners or their insurance company. Sanders Insurance can help you tailor the right policy to cover professional cleaning and replacement of furniture and carpets damaged by backup problems. The costs for the repair or replacement of pipes can be covered by the sewage insurance as well. Our goal is to help you understand that your standard policies are not going to include unique and unforeseen circumstances such as sewage backup insurance.
If your sewage pipe breaks or collapses, you may be surprised at how little your normal home insurance covers. Our goal is to help you understand that your standard policies are not going to include unique and unforeseen circumstances such as sewage backup insurance.
We found this video from the Honest Carpenter that you might enjoy talking about the subject:
Do you need to worry about a Sewage Backup?
This is an issue no one wants to deal with but when it happens, you will have way less of a headache to deal with if you know it is covered. A sewage pipe insurance is an excellent way to provide protection in the event of blockage or blockage of the drain. It can help cover management issues that are excluded from home contents insurance.
How does a Sewage Backup happen?
Just like the pipes in your house, your main sewer line can become clogged. A common cause of sewage retention is caused by flushing objects that should not be flushed. Paper towels are particularly harmful when flushed because they accumulate in the pipes. Edible oil is even worse because it can clump and clog up in the pipe. The three top causes:
Clog
Tree roots
Broken sewer lines
Why do you need Sewage Backup Insurance?
These issues can cause thousands of dollars worth of damage to floors, walls, furniture and electrical systems. Many people assume that the sewage protection (swamp and pump overflow) is covered by their homeowners or their insurance company.
What yo expect from Sewage Backup Insurance?
The insurance covers professional cleaning and replacement of furniture and carpets damaged by backups. The costs for the repair or replacement of pipes are covered by the sewage insurance.
Considerations
In flood-prone areas, it is important to have flood insurance and sewage retention insurance. Think, for example, of your basement and its area, which is most likely to be flooded in the event of a backlog of water.
Heavy rains can cause streams to swell and flood your home. The Insurance Information Institute cites studies suggesting that sewage protection, also known as water protection, is becoming more common.
Protect Yourself
Be prepared for the unexpected. Get a free quote or compare policies by speaking with one of our insurance consultants. It’s our job to seek out the best coverage from the best providers so we can guarantee you’re paying the best price every year.
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How Much Home Insurance Do I Need?
When it comes to choosing the right insurance for your home, we understand the process can be overwhelming and we're here to help you out!
If reading is not your thing, here is a great breakdown of how insurance works by the Concerning Reality YouTube Channel.
How Much Home Insurance Do I Need?
If you put away an extra $200 each month instead of buying home insurance, you will have an extra $2,400 at the end of the year.
Now imagine if your house burned down the following year, sure you have your $2,400 saved up but what if your house cost $150,000.
Would that be a risk you’re willing to take?
Why is Homeowners Insurance needed?
You don't want to invest all your money on a property only to have it destroyed or ruined in a fire.
Homeowners insurance is the basic type of insurance policy covering the principal and interest on your home, as well as damage to it. With a proper policy, you will be able to protect your property from losses and be financially prepared if the unthinkable happens.
How do I choose a Home Insurance company?
One of the many benefits to working with Sanders Insurance is we do all of the hard work for you. We’re partnered with the industry leaders for home insurance and can match you with a policy which works best for you and the variables of your life.
Which Home Owners Insurance Policy is best?
When buying home insurance, your homeowner's policy should cover all of your possessions, including your house and belongings.
Ultimately, we're not here to tell you what to buy, but rather help you choose the right policy. Because of the wide range of home insurance options and the massive price differences between some providers, we know how to guide you towards choosing the best policy specifically for you.
Inflation is Here and It Is Affecting Everyone’s Insurance!
What is Inflation and Why Does it Matter?
The Bureau of Labor Statistics measures inflation as the percentage change in the Consumer Price Index (CPI). The CPI is a measure of the "costs that consumers pay for all goods and services purchased by the households from domestic producers" and is used to calculate changes in the cost of living for Americans.
This will affect everyone. Inflation in April accelerated at its fastest pace in more than 12 years as the U.S. economic recovery kicked into gear and energy prices jumped higher, the Labor Department reported Wednesday.
As the world begins to reopen and people reintegrate into their normal activities, we are faced with a lot of uncertainty about the future. Businesses which were closed a year ago are reopening this year and we are seeing increases across the board for all goods and services. This is not a good thing and we do not even really know what is happening yet.
Of course all the printing of money brings fears of Hyperinflation. This is a doomsday scenario for modern economies throughout the last century. In all of these failed countries (Zimbabwe, Venezuela, Hungary, Yugoslavia, etc.) there have been uniform warning signs, the same signs that we are starting to see today in the U.S.
Economic downturns are unfortunate realities and fear continues to build as we do not exactly understand what the effects of this past year will be. All we know is that we are already seeing prices skyrocket throughout different sectors.
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With building costs on the rise, an insurance policy already in effect prior to the economy experiencing the rapid inflation of building materials will not cover you in the event of a total loss.
If we have not reviewed your policy recently, reach out to us and let’s schedule time to make sure you are fully insured.
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With Building Costs on the Rise, How Well Are You Protected?
The real estate market is in a frenzy like we’ve never seen before. Houses are selling on the same day for 30-40% over asking price with multiple cash offers.
This is great for anyone who is selling a house but there’s a harsh reality we’re trying to protect our clients from.
Here is the Situation
Developers cannot keep up with demand because lumber prices are up nearly 200% year over year.
Most insurance plans only have a 4% inflation guard.
Last year prices rose 20% followed by another 20% this year (and still continuing to rise.)
EXAMPLE:
Hypothetically, let’s say you were building a 200 sq ft deck this summer.
In April of 2020, the materials for the deck would have cost $936.
As of April of 2021, the same materials for that deck now cost $3696!
Why is this Important?
In the event of a total loss or significant damages, your current policy may not cover the full inflated costs of materials.
If you have a $200,000 house, your current policy with a 4% inflation guard will not cover today’s prices with inflated costs of building materials.
We do not want our customers facing unnecessary issues in an already difficult time so we’re urging you to schedule time to speak with one of our agents to review your policies so we can make sure you’re fully protected.
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Help your friends and family save money with Sanders Insurance!