Home Insurance
Quality Home Insurance for Albuquerque, NM, Homeowners
Albuquerque Insurance World, Inc. helps homeowners find the best rates for home insurance in Albuquerque, NM, as well as policy terms from most major carriers.
What Home Insurance Is
Home insurance, or homeowner’s insurance, is a policy that provides financial protection in the event of a disaster. Most home insurance policies cover damage to a home’s structure and many of the things inside it. It also protects the homeowner against liability claims and legal responsibility for injuries or property destruction sustained by visitors or by the people or pets that live there.
Most policies cover damage from natural and other disasters, but there are limits to the coverage. For example, most policies don’t cover disfiguration caused by poor maintenance or natural disasters like floods or earthquakes. Flood and earthquake coverage is typically available as a separate policy. Injury or damage caused by negligence relating to maintenance issues is the responsibility of the homeowner and is not covered by insurance.
Coverage of Structures
If your home is damaged by almost any disaster excluding a flood or earthquake, such as a fire, lightning, or hurricane, your insurance carrier will pay to repair or rebuild your home and other detached structures on the property, like garages or sheds. See your policy details to determine which disasters are covered and which aren’t, as this may vary from one policy to another. Coverage amounts will vary by policy, but your insurance agent can help you find the policy that best fits your needs.
Coverage of Belongings
Most of your personal items are also covered in the event of an insured disaster or theft. Most policies cover your belongings even if you are not home with them. For example, if your suitcases are stolen on a trip, most companies would compensate you for the loss unless you have elected to forgo off-premises coverage. Unauthorized use of credit cards for up to a certain amount is also covered by many of these policies. The amount covered varies by insurer, but the best way to determine how much coverage you will need is by conducting an inventory of the value of items in your home and keeping records and photographs of those items. Certain expensive items like jewelry and collectibles are covered under the policy, but there are often dollar limits to the coverage if these items are stolen or disappear. Additional coverage can be purchased to cover the full amount of these items if desired.
Liability Coverage
Liability coverage protects the homeowner against lawsuits in the event that a member of the household, including a pet, causes injury or property damage to someone else. This part of the policy only applies to damage caused to other people and their property, not to other household members or their property. It covers the homeowner and household members anywhere in the world and pays for any court costs and damages as a result of an injury or property damage. If a visitor is injured at your home, their medical costs will be covered by the homeowner’s insurance company, and no liability claims will be filed against the homeowner. Liability coverage amounts vary by company, and homeowners may want to consider purchasing more than the minimum their insurance company recommends to reduce further liability for potential damages or injuries. Talk to your insurance agent to determine the appropriate amount for your family.
Living Expenses
This part of the policy pays for your family to live away from home if the home is unlivable due to damage from an insured disaster. Additional living expenses coverage includes hotel bills, meals, and other expenses incurred above normal living expenses while the home is being repaired or rebuilt. Most policies do, however, include limits on time and money when it comes to additional living expenses. Reimbursement for living expenses is separate from the reimbursement for damage to the structure and belongings. Coverage varies from one company to the next, but additional coverage is usually available for purchase.
Home Insurance from Albuquerque Insurance World, Inc.
All lenders require homeowners to purchase home insurance. Even if you have paid off your mortgage, it is a good idea to protect your home and its contents with insurance. Our agents help you save time and money when shopping for home insurance by doing all the shopping for you. We will gather quotes from up to 12 major insurance companies, including Nationwide, ACCC, and Progressive, without giving out your personal information to every company. We provide personalized, face-to-face service to help you find the best rates and policies to meet your needs. We offer various payment options, including cash, to make paying for your policy as convenient as possible.
Whether you need auto, boat, motorcycle, or home insurance, contact the experts at Albuquerque Insurance World, Inc. today for a free quote.
Let us do the shopping for you.