Your "homeowners insurance destination"
Your most valuable asset
If you’re like most homeowners, your home is your most valuable asset and should be protected as such. When your home is damaged, you need your claim settled by an insurance company that understands the importance of the place you call home.
Thompson Insurance can help you find the best homeowners insurance that will meet your needs and provide the most valuable combination of tailored coverage, quality service, and competitive pricing.
Note: You cannot use traditional homeowners insurance if you are looking for homeowners insurance for a rental property or home that is unoccupied. You need a “specialty dwelling” policy which we can also help you with.
No matter where you live, homeowners insurance is one of the most important purchases you’ll ever make.
It’s important to understand that no two homeowners' insurance policies are equal. Different insurance companies offer different levels of coverage, different endorsements, and riders, and have different conditions and limitations.
Homeowners Insurance Policies
If you’re not using an independent agent like us, it can be hard, if not impossible to tell the difference between two homeowners' insurance policies.
Whether you own or rent, insuring the place you call home can help protect you financially if you suffer a loss. It will also cover you in the event someone is injured while on your property.
Homeowners' insurance policies differ by which losses are covered, which coverages you choose, and what type of residence you own. You choose which policy is best for you, whether it’s a comprehensive policy or a policy that covers only specified losses.
Common Homeowners Insurance Coverages
These are some common coverages you typically see on a policy:
- Dwelling: This covers the actual structure of your home. The cost to replace your home can fluctuate from time to time based on the cost of raw material and labor.
- Other Structures: This covers any structure on your property that is not permanently attached to your house. This includes fencing, driveways, sidewalks, and detached buildings like sheds and garages. Usually, this coverage is 10% of whatever your Dwelling limit is, but can be increased if you need more coverage.
- Personal Property: This covers all of your personal belongings like clothing, furniture, electronics, and appliances. Basically anything that would fall out of your house if you turned it upside down.
- Loss of Use: This covers your living expenses if your home is temporarily uninhabitable due to a loss.
- Medical Expense: This covers medical expenses for guests if they are injured on your property. It does not cover health care costs for you or other members of your household.
- Family/Personal Liability: This applies if someone is injured or their property is damaged and you are to blame. The coverage generally applies anywhere in the world. When choosing your liability coverage limits, consider things like how much money you make and the assets you own. Your personal liability coverage should be high enough to protect your assets if you are sued. In some situations, an Umbrella policy may be necessary to provide extra coverage.
- Scheduled Personal Property: You might want special coverage, in some situations, for valuables, or collectibles like jewelry, guns, rugs, etc..