The Top 5 Home Insurance Frequently Asked Questions

The Top 5 Home Insurance Frequently Asked Questions

For many homeowners, there are several insurance questions that are often looming to ensure that security is in place for the home’s protection. Between the costs to the coverage, there are several factors of home insurance that are important for homeowners to have answered.


1. How are Insurance Premiums Determined?

Most people are hoping to obtain an affordable premium to ensure that their home insurance cost is low annually. There are several factors that determine the cost, between the home’s location, whether any residents smoke, claim history, and the age or condition of the residence.

2. Is Homeowners Insurance a Requirement?

Unlike owning a vehicle, home insurance is an option and by no means a requirement to obtain. However, for those who have a loan on the property, most lenders require some sort of insurance to be in place, especially if the area is prone to extreme weather. In Southern California, Orange County home insurance is often required when paying off a loan to protect the property from common earthquakes. Flood damage is not usually covered by insurance and must be purchased separately.

3. Is Insurance Available When Renting an Apartment?

Insurance is most definitely still an option when renting an apartment, working to protect the residents and the assets. Should an injury occur on the property, the insurance will help to cover the costs whether a resident or visitor was injured.

Should a lawsuit occur due to injury or damages due to the property from an outside visitor, the cost of the entire lawsuit is covered to ensure that the suit is settled.

4. Is the Property Covered While Away?

Many people fear that their personal belongings and home are not insured if they’re away from the property or on vacation. However, everything is still covered whether at the residence or not, due to the HO-3 policy.

5. What is Not Covered by Homeowners Insurance?

Although most assets and property is covered by the insurance, whether covered by a company in South Dakota or Orange County home insurance, there are still limitations which includes coverage for guns, trailers, watercraft vehicles, cash or money, or any damage that is caused by pets. Coverage is in place for accidents that occur due to a fire or theft, but are not covered if an item is accidentally damaged or misplaced on the property.

Disclaimer: This is for information purposes only and NOT a recommendation from Mills Insurance. Please contact a licensed insurance agent specialist to discuss insurance coverage’s and laws.

Mills Insurance Services, Inc. A nationwide insurance company is at your service for the following insurance needs:
• Home insurance
• Life insurance
• Auto insurance
• Health insurance
• Business insurance

With headquarter locations in:
• Orange County, California: Los Alamitos and Lake Forest
• Riverside County, California: Palm Desert

Comments are closed.