Homeowner's insurance covers more than just the physical structure of your home. It also covers the valuables kept inside your home and protects you in case someone is injured on your property. It also covers theft and vandalism.
Most everyone needs Homeowner's Insurance
If you own a home, it's obvious that you need homeowner's insurance. But did you know that there are other types of homeowner's policies? If you rent a home or apartment, own a condo, or if you rent out to tenants then you need some form of homeowner's insurance. Here are some details of the different types of policies available:
A Homeowner's policy covers your structure or dwelling, unattached structures or fencing, personal property, liability and medical payments to others.
A Condo policy covers your personal belongings, liability and medical payments to others, and can cover damage to the interior of your unit.
A Renter's policy covers your personal belongings in the event of a fire or theft. You can also add liability coverage to protect you if someone is injured in/on your rented property.
A Landlord's policy can be written to cover the specific types of risks that a property owner may face. Options for coverage include damage to your property from a fire, natural disaster, or other peril including damage caused by tenants. These policies can also include liability coverage, legal counsel and fees in the event of a lawsuit, and even lost income.
Did you know that there is limited coverage on certain items?
To help keep insurance premiums low, your homeowner's policy probably limits coverage on some items. Typical limits are:
- Jewelry - $1,000
- Firearms - $2,000
- Fine Art & Paintings - $1,000
Homeowner's policies typically only cover theft of items. If something mysteriously disappears, there would be no coverage for the lost item. If you own such items and they are valued at higher amounts, we recommend that additional coverage be purchased.
Although Deseret Insurance Agency ("DIA”) is a separate and distinct company from Deseret First Credit Union ("DFCU”) the two companies share the common goal to provide first-class services to you. However, DIA and DFCU are separate legal entities and neither is responsible for the products or services offered by the other. Additionally, Insurance products offered by DIA are not a deposit, they are not federally insured, they are not obligations of DFCU, they are not guaranteed by DFCU, and they are not sold by DFCU.