Home ownership is the goal of many people in Beverly, Lynn, Marblehead, Peabody, Salem, Swampscott, MA, and the surrounding area, and while owning a home is a wonderful experience, it is also important that you protect this investment. If you have a mortgage on the home, your lender is also likely going to require that you have homeowners insurance on the property. The team at Farquhar & Black Insurance Agency has been helping people insure their homes for many decades; in fact, we are one of the oldest insurance agencies in the country. Between fires, floods, tornados, blizzards, and other storms and natural disasters, we have helped homeowners through practically every scenario that you can imagine. Because your home is likely the most valuable asset that you have, it is important to protect it from devastating incidents. Contact our team today to make sure that you have the right coverage for your home.

Things Homeowners Need To Keep in Mind

Many times homeowners make the mistake of thinking that everything in their home will be covered, but some items need to be listed or put on a schedule in order to establish a baseline of the value of the items. Your homeowners policy will have a limit for various categories of objects, and if you haven’t listed out those special items that exceed that limit, you will only be compensated for that normal limit. This often means that a collection of jewelry, artwork, antiques, or other items must be listed out specifically with the policy to be fully covered.

More and more people are operating a business from their home, and they often make the mistake of thinking that their homeowners policy will cover everything. This is where it is important to speak with your agent to understand what your homeowners policy will and will not cover. You may need to have additional liability coverage, protection for your inventory, or other needs with a home-based business.

Normal Wear & Tear Is Not Covered

Things will normally wear out and stop working, such as a refrigerator or an oven. These items are not covered as the homeowner is expected to do the maintenance and repairs to these items outside of the insurance coverage. If these items are destroyed or made inoperable due to a covered peril, that is a different story, but outside of that scenario all appliances and equipment must be maintained by the homeowner as part of the ownership of the property.

If someone ends up falling and injuring themselves on your property, or you have an electrical fire that damages your home in Beverly, Lynn, Marblehead, Peabody, Salem, Swampscott, MA, and the surrounding area, having homeowners insurance will make sure that you have the financial resources to repair the home and to cover the medical and potential legal bills. Farquhar & Black Insurance Agency is here to ensure that you have the right amount of homeowners insurance coverage. Contact us today to schedule a review of your policy.