Homeowners Insurance In Louisiana

Your house is one of the largest investments you make. Not only is it probably one of your biggest financial investments, but it is where you spend your time with your friends and family, making memories and making it a home. It is of utmost importance to protect it!

What is Covered?

Homeowners insurance provides you with a sense of relief knowing that your home and belongings are covered in case of fire, burglary, and some weather-related events. Each policy is different and can vary in regard to what it covers but also the coverage limits and deductibles. Typically, a homeowner’s policy covers several things such as:

• Dwelling: This is protection to the actual structure of the home including things such as the roof, walls, and built-in appliances. Damaging events that are commonly covered here include fire/smoke, lightning strikes, explosions, vandalism, damage from motor vehicles, and falling objects. Dwelling coverage normally extends to all attached structures from the main home including attached garages and decks. It’s important to work with your agent to properly build your coverage off of rebuilding cost and not necessarily current market value.
• Other Structures: Do you have a detached garage, workshop, or an in-law cottage in the back yard? These are all buildings that need to be covered in an additional structure policy. The coverage is similar to the main dwelling policy but applies to only those structures not attached to the main dwelling structure itself.
• Personal Property/Contents: This coverage helps cover the cost of replacing the belongings and things of your home such as furniture, electronics, and clothes. Sometimes policies offer actual cash value which would be the cost to replace your items minus the amount they’ve depreciated in value. Replacement cost coverage would cover the cost of purchasing alll new belongings of similar quality at the time of replacement. Jewelry and art can be covered under the personal property policy, but most policies have set coverage limits on certain items. If you need additional coverage for some of these high-value items, talk to us about optional coverage.
• Loss of Use/Additional Living Expenses: Should your home no longer be liveable while work is being completed under a covered claim, loss of use policies provide you with resources for temporary living. This is often an overlooked part of policies, but one of the most important! Paying for temporary residence while still paying a mortgage can quickly put most families in a financial crunch.
• Liability Protection: This coverage is protection from accidents that may occur on your property. If you or a member of your household are sued for accidental injury or property damage, liability protection can help cover the fees such as legal, medical, and settlements. Without proper liability coverage, your personal assets would most likely be at risk to pay for the damages out of pocket. Liability traditionally covers any injuries incurred as a result of your pet (although specific policies have breed restrictions, so check with your agent). 

What is NOT Covered?

While it is important to know exactly what your individual and unique policy covers, it is equally important to understand what it does not cover. Most homeowners insurance policies do not cover damages due to the following:

• Flood: Floods and rising water can wreak havoc on your home and your belongings. Even the smallest amounts of water within your home can cause catastrophic loss. Most homeowners policies do not cover flooding in their list of covered perils. However, additional flood policies can be very reasonably priced and can provide protection for both your structure and your belongings.
• Earthquakes: Although Louisiana is at low-risk for earthquake activity, should one strike, most homeowners policies would not cover damages. Check with your agent to see about adding an additional policy to cover structure, contents, and additional living expenses with an earthquake policy.
• Homeowner’s Neglect: Ultimately, the upkeep and maintenance of your home is your responsibility as the homeowner. You should make it a priority to carry out necessary repairs, perform maintenance projects from regular wear and tear, and address concerns within your property. Damages that occur to your structure and belongings due to lack of upkeep are not covered under your homeowners policy.

We at Insurance Shield are locals and understand the concerns of homeonwers in our area. Let us work with you today to create the best protection homeowners insurance policy available. We would love the opportunity to work with you on your coverage limits and deductibles to ensure that you can enjoy what you’ve worked so hard for! Let’s help your home feel safe and secure!