What New Homeowners Need to Know About Insurance

Purchasing a new home is an exciting time in life. It is imperative, though, that you do everything you can to protect this big, new investment. At Ruddy Insurance Group, serving Niles, OH, and the surrounding areas, we make it our top priority to educate our clients on insurance products that can benefit them. Keep reading to learn more about home insurance. 

Why Is Home Insurance So Important?

Your house will be one of the biggest financial investments you make. Not only will this be a financial investment, but it will also be an emotional investment. Your house will serve as a safe place for you and your family to grow together. For this reason, you will want to make sure that this investment is protected in the best ways possible. The foundation of protecting this investment is a solid home insurance policy. 

How Does Home Insurance Work?

A home insurance policy is designed to pay for repairs or replacement of your home should the home be damaged or lost. In most cases, a policy will cover repairs or loss due to fire, natural disaster, or burglary. The money paid to you from the insurance policy can be used to repair your home or build another house. This provides you with peace of mind knowing that you and your family will always have a place to call home. 

What About Flooding?

New homeowners need to be aware that most home insurance policies do not cover flood damage from a naturally occurring flood. This means that if your home is flooded due to plumbing malfunctions or an appliance malfunction, this damage can be covered. However, if your community experiences a flood that damages your home, those damages can only be covered if you have flood insurance added to your policy. 

If you would like to learn more, contact us at Ruddy Insurance Group, serving Niles, OH, and the surrounding areas.