As a homeowner, you’re obligated to pay your mortgage even if your home is destroyed or becomes unlivable due to a natural disaster. Failure to make your mortgage payments could result in foreclosure. Fortunately, homeowners insurance can help protect you financially. Contact William Viviano Agency to learn more about homeowners insurance coverage. 

What Is Homeowners Insurance? 
Homeowners insurance, also called home insurance, is a contract between you and your insurer in which they agree to pay for covered losses, up to your policy limits, in exchange for your premiums. It is often referred to as a “package policy” because it can help pay for property damage and provide personal liability coverage simultaneously.  

What Does Homeowners Insurance Cover? 
Your home insurance coverages may vary with your insurer. The following are examples of common homeowners insurance coverages: 

• Personal property coverage can help repair or replace your belongings if they’re damaged or destroyed by a covered loss.
• Dwelling coverage can help pay for damage to structural aspects of your home (e.g., foundation, plumbing) from covered perils.
• Other structures coverage can help repair or replace other structures on your property if they’re damaged by a covered loss.
• Personal liability coverage can help pay for costs (e.g., medical bills, legal fees) arising from third-party property damage or bodily injury you cause. 

Additional living expenses can help cover extra living expenses (e.g., meals, hotels) if a covered peril causes property damage that forces you to leave your home temporarily. 

Review your policy carefully for information on what constitutes a covered peril. For example, flood damages are generally not covered under a standard homeowners insurance policy. Ask your insurance agent or contact William Viviano Agency to learn if you could benefit from a separate flood insurance policy or additional coverages. 

Is Homeowners Insurance Required? 
Home insurance is not legally required; however, you will need it to get a loan from most mortgage lenders. Lenders generally do this to protect their investment in your home, but a homeowners insurance policy can provide many benefits for you as well. For this reason, you may want to consider purchasing home insurance even if you don’t have a mortgage. Contact William Viviano Agency for a homeowners insurance quote. 

How Do I Get Homeowners Insurance? 
Finding the right homeowners insurance takes time and effort. To ensure you’re not missing out on any potential discounts, you should shop around for multiple homeowners insurance quotes from different insurers. The agents at William Viviano Agency are here to help. Contact us today for more information on our homeowners insurance policies. We offer services in Lancaster and Kershaw, South Carolina.