Home Insurance in Iowa
Coverage for your Iowa Home
The state of Iowa does not require homeowners to have insurance on their properties. However, you should still have this type of policy in place to protect yourself and your loved ones in case of an emergency. The agents of Aussie Agencies in Knoxville, IA highly recommend this type of coverage if you have a family or dependents. If you took out a mortgage to pay for your home, your lender would likely require you to obtain a home insurance policy as a term of your loan, but you should continue to maintain your policy even after your mortgage is fully paid off.
In general, your homeowner's insurance policy should include the following components:
- Liability - This aspect of your policy is not actually for the home itself, but for any visitors or guests who come to your property. If someone is injured, this coverage can protect you if they sue or incur extensive medical bills. Most lenders will require this coverage.
- Property - Property coverage applies to the physical structure of your house. For example, if it is damaged in a fire or burglary, your policy may be used to cover the costs of repairing the damage. If you have a mortgage, your lender will almost certainly require you to have this type of coverage.
- Personal Property - Although not typically required by mortgage lenders, this is an aspect of home insurance coverage that is important to most homeowners. It applies to the belongings inside your home, like furniture, clothing, and electronics. Expensive jewelry, fine art, and the like will typically need additional coverage.
In creating your home insurance policy, you may also wish to include coverage to pay for lodging and other living expenses while your home is under repair, as this is typically not included in standard policies. For assistance with creating an appropriate home insurance policy for your Iowa home, you can count on Aussie Agencies. Our experts in Knoxville, IA will tailor your policy to meet your needs and budget. Get in touch with us today to learn more about our services and how to get the process started.