Homeowners Insurance in Spartanburg, SC & Greenville, SC
Homeowners insurance is crucial for covering losses and damage to your house and personal belongings in the aftermath of disasters, theft and accidents. Imagine the cost of rebuilding your home after a fire or replacing stolen valuables with no financial assistance. Without homeowners insurance, you could face financial hardship if your home is damaged or destroyed.
When Is Homeowners Insurance Required?
Home insurance is not typically required by law. However, if you are financing your home, your mortgage lender will likely mandate that you have insurance to protect its investment. Some homeowners associations also require it for membership purposes. Even if you own your home outright, it’s good to have homeowners insurance to financially protect you from a wide range of mishaps.
What Does Home Insurance Cover? 
Standard home insurance policies generally cover the following areas:
- Dwelling coverage may pay for repair or rebuilding costs if your home is damaged by fire, windstorms, hail or other events specified in your policy.
- Personal property coverage may cover replacing your furniture, clothing and other belongings if they are stolen or destroyed.
- Liability protection may provide financial aid for bodily injury or property damage that you or your family members cause to others.
- Additional living expenses may cover the cost of living elsewhere if your home becomes uninhabitable due to an insured event.
How Is Homeowners Insurance Calculated?
Your homeowners insurance cost is usually calculated based on the following several factors:
- Location
- Home value and rebuilding cost
- Coverage amount
- Deductible
- Credit score
If you’re concerned about the cost of home insurance impacting your budget, consider discussing how to reduce your premiums with an insurance agent. Options might include increasing your deductible or modifying your coverage limits to better suit your needs.
Where to Get Home Insurance
The home insurance experts at La Cima Insurance Agency LLC are happy to discuss your coverage options and help ensure your home is adequately covered. Contact us today for a custom home insurance quote.