Practically every mortgage company in the country requires homeowners to have some level of coverage through a home insurance policy. Typically, these policies cover things such as damage to the home’s interior and exterior, personal liability, and theft. Should disaster strike in the Bronx, NY area, home insurance can potentially save you hundreds of thousands of dollars.

There are a few things you need to know when shopping for a policy:

What Is Covered

In most cases, if your home faces a disaster such as a fire, hurricane, or other event, the insurance company will cover the cost of repairs and replacements. However, be sure to ask what events and what aspects of your home and belongings are covered as well as how you’ll receive the compensation.

What Isn’t Covered

Though most policies will cover common natural disasters, some events such as floods and earthquakes may not be covered under a general policy. Additionally, some personal items may be excluded from coverage. It’s always best to ask for a list of included or excluded items and events so you know what to expect in a crisis.

How Your Rates Are Determined

Most types of insurance have rates set according to risk factors, and home insurance is no different. Each company has its own formula to assess risks, and because of this, the prices you are quoted can vary dramatically – even from one year to the next.

Get the Coverage You Need With Help From L M Insurance & Financial Services LLC

If you’re in the Bronx, NY area and need help finding the right home insurance policy for you, give the team at L M Insurance & Financial Services LLC a call today! We can’t wait to speak to you.