Homeowners Insurance

Homeowners Insurance in Lincoln, NE

When you buy a new home, you need to make many decisions. One of your most important decisions is which homeowners insurance policy you'll have.

Homeowners insurance can cover the cost of repairs for your home if it becomes damaged due to a covered risk. This type of insurance can also cover damaged belongings and can pay the costs if someone gets injured on your property.

An insurance agent in Lincoln, NE can help you choose a policy that offers the coverage you need at a price you can afford.

What Are the Types of Homeowners Insurance?

Since homeowners' needs vary so widely, you can choose from many different insurance plans.
  • HO-2 covers your home from damages in specific situations.
  • HO-3 covers your home in more situations than an HO-2 does.
  • HO-4 covers covers your personal property (also known as renters insurance).
  • HO-5 covers new, high-quality homes.
  • HO-6 covers condominiums.
  • HO-7 covers mobile homes.
  • HO-8 covers older homes.
Before you choose a policy in Lincoln, NE, make sure you look closely at the specific coverage it offers.

What Does Homeowners Insurance Cover?

Let's break down some of the specifics of homeowners insurance so you can understand the components of a typical coverage plan.

Replacement

If your home becomes damaged by a fire, fallen tree, or other situation, your insurance can compensate you for the actual cash value of the property.

Personal Property

If your belongings are stolen or damaged, homeowners insurance can replace them. Some insurance policies offer what's known as replacement cost, which gives you the full value of the item no matter how long you've owned it. Other policies offer actual cash value, meaning your policy deducts replacement costs based on how long you've owned the item.

Liability

While no one expects to be held liable after an accident at their home or away, liability coverage may help prevent you from paying out of pocket should the unexpected occur. Liability coverage can cover medical bills, pain and suffering, lost wages, death benefits and legal costs. 

Living Expenses

Most insurance policies will pay for living expenses if your home becomes damaged and you must live away from home.

How Do You Choose the Right Homeowners Insurance Policy?

Many homeowners choose a policy with a high deductible so they pay lower premiums each month. If you choose a high-deductible plan, make sure the deductible is not so high that you can't afford it.

Call Mid-Alliance Insurance Associates, LLC today at (402) 421-7800. An insurance agent can help you understand more about the ins and outs of homeowners insurance and help you choose the right plan. 

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