3 Facts About Homeowners Insurance

​Home insurance helps you to maximize your savings and pay less when confronted with future home disasters. In this article, we will cover three facts that every homeowner should know about getting home insurance. 

1. Different amounts of coverage
   There are several types of home insurance policies to choose from. But whichever kind you use, you will still be confronted with three options for the amount of coverage you will receive when making a claim. 
   
   - Cash value coverage. This type of coverage pays for the repair or replacement of your possessions or property up to the policy's limits with deprecation value. Commonly, this type of coverage is also called market value coverage. Although it is the least expensive among the coverages, it may not cover all your expenses in the home repairs. 
   
   -  Replacement cost coverage. This coverage allows the repair or replacement of your property and possession with the same rules as above. But this time, there is no deduction from deprecation value. Although it is more expensive, it still covers all the losses caused by disasters.  
   
   - Extended replacement cost coverage. Although this type is the most expensive, many homeowners still prefer getting one. It covers all the expenses of repairing your home as it was before even if it exceeds the limit by 25%.
   
   
2. It is still vital to maintain your home
   Although insurance aims to protect your home from disasters, there are still exemptions made. If a company found out that the cause of the damage in your home was due to neglect, they may deny or fail to approve your claim. 
   
   What we can suggest is always to keep your roofs ready for regular inspections, trim your trees when needed, and be vigilant in spotting leak signs. This way, you can prevent any means of being accused that you neglected your home. 
   
   
3. Watch out for the deadline of the claim
   In case you need to fix damages in your home, do it immediately. Never wait too long! Most policies implement a 14-day reporting. This allows them to ensure that the accident did not worsen during the waiting time. In case you miss the deadline, and the company denies your claim, you may end up paying for your repairs.  

At American Eagle Insurance, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (225) 667-7377 or Click Here to request a free quote.