Homeowners Insurance

Home insurance covers the hazards that most homeowners face, including personal liability exposures, which protect you from many situations that could lead to lawsuits from others.

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Mackey & Mackey Insurance

At Mackey & Mackey Insurance, our mission is to get to know and understand our clients’ needs, wants, and long-term goals. We are passionate about building trust in the relationships we have with our clients. Our focus is solely on our clients. To us, insurance is not simply insurance. To us, insurance provides peace of mind, assurance, and protection for your family and loved ones. One of our specialties is homeowners insurance. Your home is one of the most important things you will buy in your life. Keep it protected with a local homeowners insurance plan.

So What is Homeowners Insurance?

Homeowner’s insurance is a necessary component of owning your own home. A kind of property insurance, homeowner’s insurance, protects against losses and damages to your residence as well as some furnishings and assets inside the home. It provides a level of liability insurance coverage protecting against accidents on the property or inside the home. Generally, a homeowner’s insurance policy will cover interior damage, exterior damage, loss of or damage to personal assets, and injury that occurs on the property. Every policy has a liability limit that will cover only a certain amount if there is an accident resulting in an injury on the property.

The Basics

Most homeowners insurance policies have six kinds of coverage, dwelling, other structures, personal property, liability, additional living expenses and medical expenses. The homeowner is usually required to pay a deductible when a homeowners insurance claim is made, which is essentially the out-of-pocket expense for the policy owner.

What a Homeowners Policy Covers:

Insurance protects you and your assets in case of loss, injury or damage; either caused by you, or by someone else. Auto insurance usually consists of the following protections:

Dwelling Coverage

Provides coverage for damage to the physical dwelling as well as other structures that are attached to the home.

Personal Property Coverage

Coverage damage to or loss of the personal belongings that are kept within your premises with limited coverage for applies for certain items such as jewelry, watches, furs, etc.

Other Structure Coverage

coverage for damage to other structures on the property that are detached from the dwelling (ex: shed, fence, etc.).

Additinal Living Expenses

Coverage for necessary living expenses incurred to continue with the normal standard of living when the dwelling cannot be occupied due to a covered loss.

Personal Liabiity Coverage

Protection for you against claims arising from accidents to others on a property that you own or rent.

Medical Expense Coverage

Coverage for medical expenses, limited to a specific amount per person and per accident, for injuries that occur on your premises to someone other than the insured.

"Acts of War" & "Acts of God"

“Acts of War” or “Acts of God” are usually excluded from a typical homeowners insurance policy. These are natural disasters such as floods or earthquakes. If you live in an area prone to natural disasters such as these, it is advisable to get special coverages for it. On the other hand, most basic homeowners insurance policies will cover natural disasters like hurricanes and tornadoes. All insurance policies have their limits. Each kind of coverage is subject to its limits based on your policy. It can sometimes be a good idea to add a personal umbrella insurance policy to your coverage to add a layer of protection in the case of injury on your property or damage to another person’s private property in or at your home.

What if My Homeowner's Insurance Policy Doesn't Cover It?

Protecting what you have and protecting your loved ones is a top priority. This is why people get insurance. Would you be covered if someone were to become injured on your property? What if someone believes you to be at fault and decides to bring a lawsuit against you? We’ve got you covered with a personal umbrella insurance policy. Umbrella insurance policies cover above and beyond what the liability coverage is on your regular homeowner’s or auto insurance policy. When the coverage runs out on your standard policy, your umbrella insurance policy kicks in. Speak to an agent today to find out if this is a good fit for you.

Little-known facts about Homeowners Insurance

There are many things about insuring a home that most consumers aren’t aware of. We are here to make sure you avoid potential problem areas, including:

Most policies will not cover sewer backup, unless you purchase a special endorsement
Damages caused by surface water or water that flows below the surface of the ground aren’t usually covered
A standard homeowners policy typically does not include Flood Insurance
A standard homeowners policy only covers jewelry, up to set limits if the loss resulted from one of the perils named on the policy
Many policies default to actual cash value, which means if you purchased a widescreen TV and home theater system for $1,000, it may now only be worth $450, so that's all you'll receive on the claim. Just like the dwelling limit mentioned above, replacement cost insurance pays out the total replacement value of your possessions, not their market value, in the event of a claim.
IMPORTANT: You can combine your Home and Auto policies (and others) for even more savings.

Key Takeaways

There is no such thing as a one-size-fits-all policy. Each policy is as unique as its covered policyholder. The coverage, limits, and deductibles you need will be dependent on your situation. It is essential to schedule a meeting with an agent, so you can find the best policy for your budget without sacrificing coverage. At Village Insurance, we specialize in homeowners insurance Call today.