Home insurance protects your home and possessions against damage or loss caused by events such as fire or theft. Home insurance policies come in different forms and cover various possessions and risks. For people living in Glen Allen, VA, Everett Insurance is here to help you understand the limits of your coverage and what you can do to expand your protection.

How is your insurance coverage calculated?

The amount of insurance coverage you have and the type of home insurance policy you have depend on several factors, including the value of your home and where it is located. Home insurance policy limits are the maximum amount of coverage your home insurance policy will provide for each of the risks covered by your policy.

What happens when your damages reach your policy limits?

Personal liability claims can quickly exceed the coverage you have in your policy. When this happens, you may be required to pay the portion of the settlement that is left over. In an oversized suit, this can be thousands of dollars.

It’s important to note that your home insurance policy may not cover certain losses. For example, your policy may not cover losses due to libel, slander, or malicious prosecution charges.

How do you expand your coverage?

Many insurance companies offer additional coverage options for homeowners. The most common choice is to add an umbrella insurance policy. An umbrella policy provides additional coverage for losses that exceed the limits of your home insurance policy. It also includes coverage for losses not covered by your standard policy.

How much umbrella coverage you need depends on the risks you face. Every person has different needs.

Everett Insurance is dedicated to providing Glen Allen, VA, with the right coverage at the right price. Contact us today to learn more.