Homeowners Insurance in Fairhope, Alabama

As a responsible homeowner, having and understanding the intricacies of homeowners insurance is essential for safeguarding your property and belongings. Without homeowners insurance, you would have to pay for costly claims out of pocket, which could have financially devastating ramifications.

What Is Homeowners Insurance?

Homeowners insurance is a form of property insurance that covers losses and damages to an individual’s house and assets within the home. It typically helps cover interior and exterior damage from fire, smoke, theft and other covered perils. In addition to property damage, homeowners insurance may cover living expenses above normal costs if a covered loss renders the home uninhabitable and requires the homeowner to stay elsewhere temporarily while repairs are being made. Policies may also include liability coverage, which protects the homeowner if someone is injured on their property and files a lawsuit.

What Does Homeowners Insurance Cover?

The following are some common areas that homeowners insurance policies may cover:

• Dwelling coverage may help cover the structure of your home itself, including the walls, roof, foundation and other built-in structures in case of damage or destruction caused by covered perils.
• Other structures coverage extends coverage to structures on your property that are not attached to your home, such as a shed or fence.
• Personal property coverage may help cover your personal belongings, including furniture, appliances, clothing and electronics.
• Liability coverage may help provide protection if someone is injured on your property or if you cause damage to someone else’s property. It may cover medical expenses, legal fees and potential lawsuits up to the policy’s limit.
• Additional living expenses may help with temporary accommodations, meals and other living expenses if your home becomes uninhabitable due to covered damage.

Is Homeowners Insurance Required?

Homeowners insurance is not legally required by states or the federal government. However, if you have a mortgage on your home, your lender may require you to have homeowners insurance as a condition of the loan. Lenders may also require proof of homeowners insurance before closing on a mortgage. Contact Stillman Insurance Group to discuss your insurance needs. We can help answer further questions and make coverage recommendations for your unique home.

How to Get Homeowners Insurance

If you need a homeowners insurance policy or want to evaluate whether the coverage you have is adequate, we’re here to help. Give Stillman Insurance Group a call today to get started or request your free quote now.