Home Insurance

Home Insurance FAQs

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Owning a home is something that most people strive for and once they get there, it can be overwhelming—so many things you are supposed to know. Home insurance is one of those things. It would be great if they would offer a class in home insurance 101 to get you started. At Storey Insurance in Senatobia, MS, we know it can be stressful to buy a house and think about all the risks you face. We make sure you know we will be there for you all the way.  

Home Insurance FAQs

How much liability insurance is right?

Not everyone should have the same liability coverage for their home. It is not one size fits all. You need to measure your personal risk level and also your assets. The idea of liability coverage is to protect your assets. If you have more assets, you need more coverage. If you have more risks, you need more coverage. Talk to your independent insurance agent to determine the correct amount for you. 

What are some things home insurance won’t cover?

While home insurance does cover many things that threaten your home, it doesn’t cover some rather important ones. Home insurance doesn’t cover flooding and owner neglect, which includes termites, carpenter ants, mold, and rodent infestations. It also doesn’t cover earthquakes, landslides, mudslides, and sinkholes. Worst of all, if your sewer backups, you’re not covered. 

When should you review your home insurance?

Every year when your home insurance renews, you will get a declaration page that lists all your coverage. This is the ideal time to see exactly what your coverage is and if there is anything that needs to be tweaked. Is your liability coverage enough? Are you getting all the discounts you are entitled to?  Have you made an improvement that raised the value of your home?  Talk to your agent about your coverage. 

Contact Storey Insurance in Senatobia, MS for all your home insurance needs and questions. 

Home Insurance For Your Second Home

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Regardless of whether you use your second home regularly or just seasonally, having home insurance is just as important as the coverage you have for your primary home. It is essential to have protection for your second home in Senatobia, MS.

A standard home insurance policy for your second home will provide protection from damage due to a number of different situations, such as wind, lightning, and fire. At Storey Insurance, we are here to help in the event that your second home becomes damaged from a covered situation. The coverage that we provide can help with the cost of rebuilding.

In addition, home insurance for your second home should also include personal liability coverage. You will need this type of coverage to help with the expenses of a lawsuit if you are found responsible for someone being injured on the property.

Factors That Affect Second Home Insurance

While insurance for your second home is important, you should also be aware that you may require additional coverage. You do not use your second home the same way that you use your primary home. Therefore, it may be susceptible to additional risks.

Some things that may affect coverage for your second home include:

  • Replacement cost
  • Vacancies
  • Location
  • Rentals

There are also additional coverage types available that you may want to add to your second home insurance policy, such as:

  • Personal property coverage
  • Personal umbrella policy
  • Personal liability
  • Flood insurance
  • Full replacement cost

Whether your second home is a personal getaway or you have plans to turn it into a rental, Storey Insurance is here to help you make sure that you have the right coverage. Call us for more information about second home insurance in Senatobia, MS. We can help make sure that you understand all of the details and what exactly is included in your policy.

Home Insurance Protects You First and Foremost

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One of the biggest questions homeowners ask is why they should invest in a great home insurance policy. A major reason to have great home insurance is to ensure that you have protection. After all, your home insurance policy is meant to protect you and your home before it serves anybody else.

If you live in Senatobia, MS, you can turn to Storey Insurance for more information about home insurance. Here’s how home insurance protects you.

Home Insurance Provides Lawsuit Protection

If somebody is injured on your property, homeowners insurance can protect you from a lawsuit. If you do not have insurance, you may be held personally liable for their injuries, which can lead to expensive bills.

Home Insurance Covers Your Personal Belongings

Your personal belongings may be stolen, vandalized, or damaged in your own home. Depending on the circumstances, your insurance company may be able to cover these expenses. This means you are not losing money because somebody else damaged your items.

Home Insurance Gives You Options After Disaster

Disaster can strike at any time, and it is common that people are caught off guard with few options. Home insurance gives you the opportunity to replace or repair your home if something terrible happens that forces you out of your home. You are also not forced to stay in dangerous conditions because insurance gives you other options.

Contact a Home Insurance Agent

A professional can help you determine what kind of home insurance is right for you. Storey Insurance, which serves the homeowners of Senatobia, MS, can provide you with more information about policies that work for you.

Why You Need Home Insurance

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If you are a homeowner, it’s extremely important to have a home insurance policy. These policies offer several different types of coverage that are all needed by every homeowner. If you need a home policy, give us a call today at Storey Insurance in Senatobia, MS.

Protecting What You Own

One type of coverage that is included in a home policy is coverage for all of your belongings that are in the house. These represent a substantial investment, much like the home itself, and they need to be covered. If a serious incident were to happen that damaged your belongings, or perhaps destroyed them, your home policy would be there to pay for you to start replacing them. 

Coverage for the House

The house itself is covered through the policy as well. This allows for the policy to pay for repairs when certain, covered incidents happen that damage the house. Because repairs can be so expensive, this is valuable coverage that no homeowner should ever be without. The policy can help you to repair and/or rebuild without your having to come up with the money to get that work done. 

Liability Protection

Another component of most home insurance policies is the liability portion. This type of coverage will pay the medical bills that are due after someone is injured while on your property. If you are found liable for them, the policy can pay them instead of you being sued for them. This coverage is a great way to protect your future finances with a policy that can certainly come in handy. 

Protect Your Home

Every homeowner has invested significantly in their home, and every homeowner should protect it with a home insurance policy. If you need a home policy, give us a call at Storey Insurance in Senatobia, MS.

4 Misconceptions About Home Insurance

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If you are shopping for home insurance in Senatobia, MS, you might have come across numerous pieces of information — some important and others misleading. But how do you separate the chaff from the grain? It can be challenging, given half-truths might appear like the gospel truth. Fortunately, Storey Insurance is here to debunk common myths about home insurance. 

Home insurance is required by law.

This misconception is a popular one. No state requires you to carry home insurance. However, if your home is loan-financed, your lender will insist you purchase home insurance until you clear your outstanding loan. Lenders do this to protect their financial interests, given that many homebuyers don’t have the cash to cover damages to their homes when disaster strikes.  

Home insurance covers everything.

While it’s valid, home insurance covers damages and losses emanating from fire, hail, lightning, theft, and many other risks, home insurance has exclusions –like other insurance coverages. Your typical home insurance won’t cover damages resulting from

  • Floods and earthquakes
  • Wars
  • Mold and pest infestation
  • Neglect or normal wear and tear

If in doubt, please talk to your insurance agent to understand what your home insurance policy is or is not covered.

Home insurance is a waste of money.

The truth is nobody likes paying insurance. However, when disaster strikes, you will be glad that you had insurance. Similarly, home insurance costs a fraction of your home value but can save you thousands of dollars when disasters strike.  

My insurance company will put me in a hotel when a disaster damages my house.

This statement will only be valid if you have a loss of use add-on on your home insurance. Otherwise, you will have to incur out-of-pocket additional living expenses when your house becomes unlivable due to damage from disasters like fire or hurricanes. 

Buy home insurance today.

Would you like to protect your Senatobia, MS with home insurance? Please contact Storey Insurance for an affordable quote. 

 

How can home insurance protect me?

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Anytime you purchase a home, it is an exhilarating occasion. While owning a property is a major accomplishment and could be a great investment for your future, many important considerations need to be made. One important choice will come when you pick a home insurance plan. Your insurance policy will protect you in many ways, which makes it a great choice.

Protection for Asset

One of the main ways your home insurance plan can protect you is by giving you coverage for your assets. A home insurance plan will give you the needed coverage to repair or even replace your home if it is seriously damaged. This form of insurance will also give coverage that you need for your personal assets if they are stolen or otherwise damaged. 

Liability Coverage

Another reason you should get a home insurance plan is to protect against the risk of liability. A property owner will take on liability risk regularly. If you have a guest over that is hurt, you could be responsible and held liable. If this occurs, you will need to pay for damages. Fortunately, you will be able to mitigate this risk by getting a proper home insurance plan, as it will include a provision for liability insurance. 

If you are interested in getting a new home insurance plan and are in the Seantobia, MS area, you should call Storey Insurance. The Storey Insurance team is dedicated to helping customers pick the right insurance plan that meets their needs. They can help you do this by carefully assessing your situation and discussing the options with you. Contact our office to get a quote and learn more.

Why and How to Take a Home Inventory for Home Insurance

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Home insurance provides coverage for the contents of your home as well as the structure itself. If you need to claim personal belongings, the insurance company will need to know information about each item in your claim. At Storey Insurance in Seantobia, MS, we recommend making a home inventory as soon as possible. 

Why a Home Inventory? 

Your insurance company will require you to provide information about the items in your claim, including any type of proof you have of your belongings and their value. It can be difficult to get this information after a loss. If items are stolen or damaged, you will likely struggle to remember them all. Serial numbers and other valuable information may not be available when you make your claim. A home inventory also allows you to calculate the value of the items in your home to determine if you have enough coverage. 

How to Make a Home Inventory

Creating a home inventory can seem overwhelming. It is easiest to start with a video or photo of your valuable items. Work your way from one room to the next, and be sure that any identifiable information like serial numbers are visible. This also gives a record of the condition your valuables are in. 

Next, you’ll need to make a formal list. Some apps can help you create a home inventory. You may also choose to create a word document or write it down on paper. 

Your inventory should include all the following information you can gather:

  • Description of item
  • Make, model, or serial number.
  • When and where the item was purchased
  • Cost and/or appraisal value at the time of purchase
  • Latest appraisal value if applicable

Home Insurance with Storey Insurance

If you own a home in Seantobia, MS, contact us at Storey Insurance. We can help you select the right coverage for your needs and offer more advice on creating a home inventory. 

Home Insurance Protects Your Biggest Asset

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Having insurance on your home is generally required if you have a mortgage, but if your home’s paid for, you technically don’t have to insure it. Still, protecting your assets is very important, and one of the best ways you can do that is through a good home insurance policy. That way, you’ll have the type and level of coverage that’s right for your needs, and you’ll also have the security and peace of mind that comes with knowing your most prominent asset has the needed level of protection. If you’re in the Seantobia, MS area, let Storey Insurance help you with your coverage needs. We can answer your questions and make sure the policy you have is the right one for you.

Even once your mortgage is satisfied, keeping your home insured goes a long way toward protecting your present and your future. If you have a family, adequate insurance coverage can also help to protect them if something should happen to you. But don’t just assume the policy you’ve always had is the one you should be kept for the long term. You may have different needs now, and if anything about your home has changed, you’ll want to make sure those changes are reflected in the insurance policy you have. If they aren’t, you could find that you don’t like the right level of coverage.

By working with us at Storey Insurance, you can adequately cover your Seantobia, MS area home and feel comfortable with the home insurance policy you have for it. See us today, and we’ll work to help you find the right policy. We know insurance can be confusing, and that’s why we’re available to help when you have questions, or you need to make changes to your policy or your coverage levels. We’re dedicated to helping you protect your most important assets.

Figuring Out How Much Home Insurance You Need

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One of the main misconceptions of home insurance in Seantobia, MS is how much you need. You don’t need coverage for the home’s market value. Instead, you should have enough to be able to put the same house on the land if there is a total loss. Being underinsured can mean you lose your home and one of your most significant investments in the event of a disaster. 

For your dwelling coverage, you should make sure that you have the replacement cost. This is the amount of money it takes to build a replica of your home. To calculate your replacement cost, you should have an idea of local construction costs. You can ask your agent at Storey Insurance to help you look up these costs. Some free online calculators can give you a replacement cost estimate. An expert independent agent can also give you an estimate. Different factors will affect your replacement cost in Seantobia, MS. If you have done any remodeling or have added structures or additional rooms, you need to keep this in mind. Also, pay attention to new building codes that were implemented after your home was initially built since this can also increase construction costs. 

In order to determine how much personal property coverage you need, do a home inventory. If you have more expensive items, you want to make sure that your insurance will cover these items. It can be easy to underestimate what you own, so it’s important to start making a list.

Many policies will come with a minimum of $100,000 in liability coverage. You should have more if you can afford it since liability covers a lot of different accidents. Having certain breeds of dogs can also increase your liability risk.

Contact Storey Insurance to get a quote on home insurance. 

A Beginner’s Overview on Home Insurance

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Buying a home is the first milestone purchase for an individual or couple looking to expand their horizon. Often, choices of this nature are based on the current state of your finances. However, once you begin the process of purchasing a home, there are certain things you need to know before moving forward. Let Storey Insurance in Seantobia, MS help you with your questions.

First, you must understand how important home insurance is to protect your new investment against damage and theft. Most mortgage companies require lendees to have some form of home insurance, and proof must be verified before the home goes through escrow. If not, then the transaction could be canceled or delayed. 

What Home Insurance Provides

A standard home insurance policy will cover all cost-related damage to the interior and exterior of your home. Homeowners will be compensated for all repairs done to the house from damage caused by fire, hail, lightning, and other disasters covered by the policy. However, any damage done by flooding, earthquakes, or poor maintenance isn’t covered by a standard home insurance policy. If you want protection from these types of disasters, then you need to have separate coverage for your home and other assets.

Liability Coverage is Important to Protect Yourself

Liability coverage is an essential item that must be included in a standard home insurance policy. It protects homeowners from being sued by others. Often, the lawsuit centers on gaining financial compensation for injuries sustained inside the home or caused by the homeowner or one of their family members. The compensation includes paying for all of the party’s medical expenses, pain and suffering, or lost wages due to their injuries. Also, a victim could seek some form of compensation if their personal property was damaged or broken during their stay at your home. 

Storey Insurance in Seantobia, MS prides itself on providing the latest information available on home insurance. Come in and speak with a staff member as they can personalize a home insurance policy that meets your needs.