Homeowners in Massachusetts have a lot invested in their homes. Your home is probably your single largest asset. It’s not only your piece of the American dream, but a place for first steps, graduations, birthday parties, and holiday gatherings. It’s a place filled with memories, milestones, family heirlooms and treasured possessions. Your home deserves comprehensive protection from Garrity Insurance.
Most people who own a home in Massachusetts should have a homeowners policy to protect their home. This normally includes both people who live in the state, and those who live elsewhere but have a seasonal home within the state.
In many cases, homeowners are required by the terms of their mortgage to have a homeowners policy that at least protects the bank’s financial interest in their house. To meet these minimum insurance requirements, a bank may go ahead and purchase a policy that covers their interest. When they do, they normally pass the cost onto homeowners.
Even if homeowners aren’t obligated to have a homeowners policy, it’s still generally wise to get one. As mentioned, few homeowners could afford to lose their homes, and homeowners policies are one of the most affordable ways to protect homes from potential disasters.
Home insurance policies are typically written as “package policies” that combine several coverages into a single policy. While the precise coverages that policies offer can vary, most home insurance policies provide your home and personal property from the following “perils insured against”:
Homeowners policies exclude earthquakes and floods from their covered perils. Homeowners that want coverage for these types of incidents will need to purchase an additional insurance policy or an add on coverage endorsement.
Homeowners in Massachusetts can find out how much a homeowners insurance policy will cost them by contacting an independent insurance agent in their area. An independent agent can request quotes for policies from different insurers, and they can help homeowners compare the coverages and rates of each policy quoted.