Home Insurance

Why You Need Home Insurance

Home insurance may not be required by the state of Massachusetts, but your mortgage lender may require it. The minimum amount of coverage you will need to have will depend on the amount of your mortgage. Insurance can protect your home from a loss and give you peace of mind to protect your largest investment. An agent at Alban Insurance Agency can help you find the right coverage.

Different Coverages under Home Insurance in Massachusetts

The standard home insurance policy in Massachusetts will be divided into different parts.

  • Coverage A: This is dwelling coverage. Your policy provides coverages for damage to the structure of your home in the event of a covered loss. Coverage may be provided at replacement cost, which means that the home structure is valued using today’s construction costs to repair or rebuild your home. It’s important to note that some losses aren’t covered, such as those resulting from floods.
  • Coverage B: This is coverage for other structures located on the property. These can include garages, gazebos, or sheds.
  • Coverage C: Coverage C provides insurance for your belongings. This can include jewelry, television, stereo, and appliances. You may want to consider replacement costs protection, so items aren’t valued at their depreciated value, and you will have enough to replace your belongings. Be sure to do a home inventory to make sure you have enough coverage, and some items, such as jewelry, may need a rider.
  • Coverage D: This coverage protects you if your home becomes uninhabitable due to a covered loss because the policy will pay for additional living expenses while you are living away from home. This can include food, clothing, and a place to stay.
  • Coverage E: This is your personal liability coverage that protects if someone files a lawsuit against you claiming bodily injury or damage to their property.
  • Coverage F: This provides medical payments to others not living at the residence if they are injured by you or on your property.

Contact Alban Insurance Agency, serving Massachusetts, to get a quote on home insurance.

While our office is located in Springfield, MA, we service the states of Massachusetts and Connecticut.