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Home Insurance

At Parsons & Howard Insurance Group, we are happy to offer home insurance for residents of Kentucky. This type of coverage is designed to protect property and belongings, but it can be customized in many different ways. It’s common for new homeowners and others to have questions about home policies, so here are a few common examples and what you should know.

What Limits Does Home Insurance Have?

Home insurance covers your primary dwelling from damage (like fires or windstorm damage), as well as your personal property (from things like theft or damage caused by storms). It also covers liability if someone gets injured on your property and can help pay for medical payments resulting from such injuries.

In these areas, home insurance can have a very broad scope. However, the policy won’t cover everything that happens to your home. Notably, home insurance doesn’t cover especially large disasters like floods and earthquakes, which require separate policies or special additions. Likewise, home insurance won’t cover damage due to neglect or damage that happens over time from wear and tear.

Am I Required to Get Home Insurance?

State law does not require you to get home insurance in Kentucky. However, lenders will typically require it when you take out a home loan, so they can protect the equity in that home if something goes wrong. In other words, if you are interested in getting a mortgage or similar loan, you will probably need to purchase home insurance along with it.

Can I Expand Home Insurance?

Yes, home insurance can be expanded in many different ways. One common example is adding other dwellings on your property like separate garages or sheds and sunrooms. People may also want to add extra coverage for specific valuables or artwork they have in their home. It’s important to talk to an insurance agent about exactly what you want to be covered, how much it would cost, and what information is required for successful coverage. The earlier you start this process, the easier it is!

For more information or asking specific questions, contact Parsons & Howard Insurance Group of Kentucky today!

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