Home insurance is essential protection for the significant financial investment you’ve made in your home. One incident could potentially cause harm to your home, and this critical coverage may help you recover after a covered incident. Our team at the Mark Bruns Agency can explore the home insurance that may best protect your home. 

What Is Home Insurance? 

Homeowners insurance is a package policy, providing a layer of coverage for damage to your dwelling or personal property and liability protection for injuries that occur on your property or injuries or property damage caused by you or another insured on your policy.   

Various types of policy coverage may be available. We can explore standard home insurance coverage and help tailor a policy to your needs. 

How Much Home Insurance Coverage Do I Need? 

Determining the amount of home insurance you may need can be complicated. For instance, if you’ve financed your home, you may need to purchase specific coverage to meet your lender’s requirements. Beyond this, you want to ensure that you buy enough coverage to protect yourself against the risks you may face, which includes selecting appropriate coverage limits.  

You may also choose to supplement your policy with endorsements or additional lines of coverage, such as flood insurance. We can ensure you have suitable coverage for your particular home and requirements. 

How Much Home Insurance Do I Need for a Mortgage? 

Most home lenders require proof of insurance from a homebuyer before approving their home loan. The amount of coverage depends on your lender and home location. To ensure that you purchase enough home insurance for your mortgage, we can work with you and your mortgage lender.   

How Do Home Insurance Claims Work? 
A homeowner may need to file a claim with their insurer requesting compensation for a covered loss. The claims process varies by insurer and may be affected by the type of loss you experience (i.e., a property damage or loss claim vs. a liability claim) and your specific home insurance policy. We can share our claims process and what you may need to do if you file a claim with us. 

How Does a Home Insurance Deductible Work? 

Your home insurance deductible is what you agree to pay, based on your policy, before your insurer may pay on your home claim. You can typically choose your deductible amount and type, and we can help you throughout this process. Generally speaking, choosing a lower deductible translates to higher premiums but offers more financial protection in the long term should you need to file a claim, as your initial out-of-pocket responsibility (i.e., your deductible) will be lower. Conversely, choosing a higher deductible can result in lower premiums (i.e., short-term savings) but could result in higher out-of-pocket costs in the long term if you need to file a claim. Mark Bruns Agency can review your deductible options and help you decide what is right for you. 

Protecting Pennsylvania Homeowners 

The Mark Bruns Agency helps to protect the homeowners of Erie and Girard, Pennsylvania, with home policies personalized for their coverage needs. Call 814-866-8671 to get a no-obligation policy quote.  

 

 

Products underwritten by Nationwide Mutual Insurance Company and affiliates. Columbus, Ohio. Nationwide, the Nationwide N and Eagle, and other marks displayed on this page are service marks of Nationwide Mutual Insurance Company, unless otherwise disclosed. © 2018 Nationwide.

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