Princess Anne Office

30386 Mt. Vernon Road

Princess Anne, MD 21853

Home Insurance

Why Do You Have Home Insurance?

Why Do You Have Home Insurance?

Home insurance covers the hazards that most homeowners face, such as:

  • Fire
  • Theft
  • Storm damage
  • Lightning
  • Hail
  • Accidents on your property

When a loss occurs, you will file a claim with your insurance carrier and will be paid for the expenses, minus your deductible.

Insurance also covers personal liability exposures, to protect you from many situations that could lead to lawsuits from others.

When you see an independent insurance agent like us Landmark Insurance and Financial Group, you have the chance to explore all your options for insurance, and protect the things that are most important to you.

Little Known Facts About Homeowners Insurance

There are many things about insuring a home that most consumers aren’t aware of, including:

  • IMPORTANT: You can combine your Home and Auto policies (and others) for even more savings.
  • Most policies will not cover sewer back-up unless you purchase a special endorsement—it’s not expensive, but you won’t get it if you don’t ask for it.
  • A standard Homeowners policy typically does not include Flood Insurance.
  • A standard homeowner policy only covers jewelry up to set limits unless scheduled with an appraisal. 
  • 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.

Home Inventory Checklists

  • Why create a home inventory checklist?
    Though your homeowners insurance policy provides the protection that you need in the event of a loss such as a fire or burglary, your policy can only pay for items that you can document. In order to assure that all your prize possessions will be replaced, you should conduct a home inventory so you have a finite record of everything that you own. This inventory will assist you in determining which items were destroyed or stolen

  • How should you conduct a home inventory?
    To complete a full home inventory, walk through every room in your home and identify all of the contents. It is also wise to take photographs or make a video of all of your possessions, and keep this media documentation with your list. Then, place all of this information into a fireproof safe or safety deposit box at your bank.
    Periodically, update this list as you purchase more items for your home.

  • How does a home inventory list relate to my insurance policy?
    Not only can a household inventory checklist assist you in the event of a loss, it can also help you determine whether you have enough insurance coverage. Your coverage should equal the cost of your possessions at today’s prices. Items such as jewelry, furs and fine art should be appraised on a regular basis to ensure that you have enough insurance to cover their high-priced value.