Essential Coverages: Protecting Your Quality of Life

Protecting your home is a pretty high priority for most people.  In 2019, the insurance industry in the United States offers homeowners and renters several affordable options for enhancing their policies.

Will Sarvey of Sarvey Insurance & Notary Service states, “All too often, people forget that insurance is a promise – one that is based in common sense.  Bad things will happen to good people.

“We live in a very unpredictable world, one where risks for us abound from our first moment of inception.”

Here are a few essential homeowner’s and renter’s coverages that are recommended by the professionals at Sarvey Insurance & Notary Service:

  • Strong Limits – Like your home, not all insurance policies are created equal. It is critical to make certain that you have enough insurance to cover your home and personal property.
  • Guaranteed Replacement Cost – Some insurance carriers offer guaranteed replacement cost on their homeowner’s and renter’s insurance policies. Sarvey states, “Over my professional career, I have seen lives impacted by hardships and made whole again just by having the right insurance.  People and families can move past the hardship and get back to living their lives.”  Many homeowner’s and renter’s policies account for actual cash value of someone’s home or personal property.  While this is good, there is a better form of coverage to consider, a guaranteed replacement of what you have lost to a covered peril.
  • Enough Liability Coverage – You accidentally hurt someone. They sue you.  They have an excellent legal team behind them.  You can be hit with a judgement, a significant judgement that threatens your home, your quality of life and your finances.  “This coverage is often overlooked by many or thought of as something that is not all that important;” Sarvey declares, “A very easy way to add additional liability coverage is to consider a Personal Catastrophe Liability policy.  These policies are super affordable – often less than a smartphone or mobile bill each month – and can provide up to $1,000,000 or more of additional liability coverage.”
  • Loss of Use – If your home, mobile home, apartment or condo burned down this very moment or blew away in a tornado, where would you and your family stay tonight? A solid insurance policy for your home or rental in 2019 must carry coverage for loss of use.  Sarvey adds, “Believe it or not, many people assume that loss of use is automatically included with their homeowner’s or renter’s insurance policy; sadly, not all policies are equal.  We work with a number of carriers here at the agency, some automatically add it while others make it optional.”  Out of all of the essential coverages for 2019, loss of use should be a high priority for everyone seeking strong protection.
  • Endorsements for Customization – No two people or families share the same risks. You may live on a hill where high winds are a concern, whereas your neighbor may live near a creek or stream where flood waters are a threat.  Homeowner’s and renter’s policies are not a one-size-fits-all solution to protecting your life.  Additional policies can also add customize protection for floods, mine subsidence and earthquake.
  • A Manageable Deductible – Having an insurance deductible that you can manage – even in a crisis situation – is a pretty simple concept, but one that is often lost on many people.

“The insurance industry is ever-changing.  Many insurance carriers are listening – now, more than ever – to their clients and to the agents like those at Sarvey Insurance & Notary Service who represent them,” Sarvey states.

“If it has been a while since you have had your insurance and protection plan reviewed by a professional, you owe it to yourself to get the most for your money.”

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