Homeowners Insurance in Massachusetts

What is Homeowners Insurance?

Owning a home is a life goal for many Massachusetts residents. However, owning a house comes with risks and responsibilities. Purchasing a comprehensive homeowners insurance policy can help provide financial protection against many of the risks you may face, providing security for your home investment.

A policy like this provides two separate types of protection: property damage and liability coverage. While this insurance is not legally required in Massachusetts, it is protection that almost all homeowners should have. For many, it will be required by a mortgage company or other lenders. Even when it is not required, homeowners should consider the financial ramifications of property damage and liability lawsuits. If your home has a devastating fire, how will you rebuild? The right policy can provide significant protections.

Additional Coverages

Though covered to your policy limits, valuable items such as antiques, jewelry, and artwork may need additional coverage depending on their value. Your agent can help you determine if you need to purchase this additional insurance.

If your home suffers serious damage requiring you to vacate, your policy may be able to help with living expenses while repairs are made. Your agent can advise you on what coverage options are available for you when you are choosing a policy.

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Homeowners insurance Property Coverages

If your home is damaged, it can be very expensive to make repairs. In many such situations, your policy can help cover these costs up to your policy limits, reducing your out of pocket expenses. Events including fire, storm damage, falling objects, theft, and vandalism can all be covered by your policy. The structure, systems, and interior of your home can all be covered. Fences, sheds, garages, and other structures on the property can also be covered at a percentage of your policy limits.

Your policy also covers the items you have in your home. If they are stolen or damaged in a covered event, you can be reimbursed for replacement items. Most things in your home can be covered by your policy, including:

  1. Clothing
  2. Furniture
  3. Carpets
  4. Appliances
  5. Jewelry
  6. Artwork
  7. Electronics

Liability Protection for Your Massachusetts Home

If a guest, delivery person, or workman is injured on your property due to your negligence, you may be held liable for their medical expenses and other damages. Usually included in your home policy is liability coverage to help you pay legal fees, settlements, and other costs associated with a lawsuit or other claim against you, as well as medical payments. Depending on your policy, you may also have coverage for dog bites, slander, libel, and other situations both on and off your property. This coverage provides significant protection to you and your guests if an accident occurs.

When you own a home, you must be aware of your insurance obligations and coverage. Purchasing appropriate homeowners insurance for your Massachusetts home can help meet the requirements set forth by your lenders, provide property damage protections, and liability coverage. This coverage will ensure that you are prepared for almost any risk that you and your home may face.

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