When many people think of a homeowner’s policy, they think of the structural protections it provides. If your home gets damaged by a peril covered in the policy, the insurance company pays for repairs. Adams Insurance & Financial wants Northwest Arkansas homeowners to also understand the liability coverage in home policies, such as HO-3 policies.
Home Insurance Liability Coverage
This blog explains its protection for accidents at the home, plus libel and slander. HO-3 policies, the typical type purchased by most homeowners, cover liability, too. Each policy provides protection equal to a percentage of the home’s value. The homeowner can adjust the percentage from its baseline, but that raises the monthly premium.
Most policies offer liability coverage at 10% or 20% of the home’s value. That means a policy that includes liability coverage with a maximum of 20% of a home’s value provides coverage of up to $100,000 for a home valued at $500,000.
How Liability Coverage Works
Liability coverage protects a homeowner in a few ways. First, if a visitor to the home has an accident, the liability coverage pays the injured person’s medical expenses. Whether the visitor falls down the steps or slips getting out of the shower, the insurance covers it. It also covers swimming pool and trampoline accidents, but owning either adds to your premium costs.
Liability coverage also offers settlement protection if the homeowner or a member of the household commits libel or slander. This protection comes in handy if anyone in the household works in a public job, such as a business owner, politician, coach, teacher, etc. Individuals in these positions frequently speak with the media and write opinion pieces, which puts them at risk of accusations of libel and slander.
Contact Us Today
Contact Adams Insurance & Financial to increase the protection on your Northwest Arkansas home. Let us help you find the right homeowner’s insurance for your home.
Making your home more energy efficient here in Northwest Arkansas doesn’t have to be a daunting task. With just a few simple tips, you can reduce your energy consumption and help the environment! Here are some simple tips from us at Adams Insurance & Financial to make your house more energy efficient.
Energy Efficiency Tips
1. Change your light bulbs
Switching from regular light bulbs to LED or CFL bulbs is an easy and cost-effective way to reduce your energy consumption. LEDs and CFLs use up to 80% less energy than traditional bulbs, so changing them out in your home can make a big difference.
2. Install a programmable thermostat
Programmable thermostats allow you to adjust the temperature in your home automatically, reducing the amount of time it takes for the house to heat up or cool down. This helps you save money on your utility bills as well as conserve energy by using less electricity.
3. Increase insulation
Installing insulation in walls, floors, and ceilings will help keep the air inside your home at a comfortable temperature and prevent it from escaping outside, reducing the amount of energy needed to keep it warm or cool. Additionally, adding weatherstripping around windows and doors will also help with insulation.
4. Use natural lighting
During daytime hours, try opening curtains or blinds in rooms that receive direct sunlight instead of relying on artificial light sources like lamps or overhead lights. Natural light is free and will result in high savings on electricity bills over time!
Keep Your Home Insurance Updated
For more tips, give us at Adams Insurance & Financial a call today. We are proud to serve the Northwest Arkansas region and would be happy to help you find a policy to suit your needs and your budget.
Your home insurance policy protects the biggest investment you probably have ever made. While it does cover many possible things that could go wrong, you may want to consider some additional coverage. At Adams Insurance & Financial in Northwest Arkansas, we are here to provide the service our customers deserve.
Home Insurance Add-ons
A jewelry rider
If you have anything more than pretty basic jewelry, you should have a jewelry rider that provides the additional coverage you require. You need to get your jewelry appraised and then get enough coverage so that you can replace any of the pieces you have.
If you have artwork that is valuable, your regular policy will not cover it. You need to add a rider to your policy to give you the additional coverage that you need. You should have an appraisal done on your art so that you have the correct valuation in case the work is ever lost or damaged.
Sewer backup is not covered by your traditional home insurance policy. If you are worried about the possibility of this happening to you, you can add this coverage to your policy.
Identity theft coverage
In today’s world of stolen identities, this can be very valuable coverage. A lot of damage can be done to your finances and even your reputation. This coverage will help to restore what has been lost and any cost you may incur.
Sinkholes can happen almost anywhere these days. Any type of earth movement is not discovered by home insurance. You can add an additional policy to your home insurance to give you the coverage you require.
Get in touch with us
Contact Adams Insurance & Financial in Northwest Arkansas when you want help choosing the right home insurance.
Owning a home is a great investment that is important to your entire household. However, if that investment isn’t well-protected, it can spell disaster for you financially. It’s important to have insurance protection for your home with a home policy. If you don’t have home insurance yet, it’s time to call us at Adams Insurance & Financial in Northwest Arkansas.
How Home Insurance Keeps You Protected
When you have home insurance, it provides protection for your home itself. It protects the dwelling against a number of damaging events that can happen to it. When a damaging event does happen to your home, it can cost many thousands of dollars to get the necessary repairs done. When you have home insurance, the policy pays for those repairs so that you won’t have to. This saves you from financial trouble after there is damage to your home.
Another way that home insurance protects you is by providing protection against damaging events that destroy your belongings. It isn’t just your home that needs to be protected- everything inside it does as well. With a home insurance policy, your insurance can pay for you to get your items replaced. This can come at a huge financial cost, so it’s always best to have this protection in place.
Home insurance also protects you against liability. When someone comes to your home and has an accident there that injures them, you are liable for the medical bills that result from it. Home insurance will pay for those bills so that you don’t have to worry about them.
Get Home Insurance
If you don’t yet have home insurance, you’re leaving yourself financially vulnerable to a number of events that can be costly. To get yourself and your home covered, give us a call today at Adams Insurance & Financial in Northwest Arkansas.
Tornadoes are terrifying, and the aftermath can be devastating. If you live in a high-tornado area, it’s important that you have a homeowner’s insurance policy that can help you rebuild in the event that your home and/or belongings are damaged by a tornado. Here, we’ll take a look at what you need to know about filing a claim after your home has been damaged by a tornado.
Reach Out To Your Insurance Agent As Soon As Possible
When you go through a traumatic event such as a tornado, it can be difficult to know where to begin when it comes to putting your life back together. One of the first things you’ll want to do is reach out to your insurance agent directly to discuss the next steps in filing your claim. They’ll be able to guide you through the claims process, one step at a time.
Discuss Emergency Work And/Or Accommodations
If you’re not able to safely live in your home due to damages caused by the tornado, talk with your insurance agent about arranging for emergency payouts for work to make your home habitable once again. If it’s not possible for you to live in your home while the work is being done, your insurance policy may pay for your to stay in a hotel until you’re able to move back into your home.
Live In A High-Tornado Area? Adams Insurance & Financial, Serving Northwest Arkansas, Can Help
Adams Insurance & Financial, Serving Northwest Arkansas, is here to help families stay protected despite unpredictable weather. Reach out or stop in today to talk about whether your homeowner’s insurance policy provides adequate protection against tornado damage.
Owning a home at a young age comes is great. It comes with many responsibilities and opportunities to make well-thought decisions like marriage or having children. For this reason, you want to make sure your loved ones and your new home is safeguarded with a home insurance policy. With so many additional market policies, finding coverages that will work for you and your family may seem daunting and overwhelming. That’s why Adams Insurance & Financial recommends knowing what to focus on in advance.
The Dwelling Coverage
This coverage covers your entire home; the floor, walls, and ceiling. It also covers critical aspects such as plumbing, wiring, heating, and cooling. The coverage is essential in helping you rebuild your home in case of damage. If you live in Northwest Arkansas, make sure your coverage limits are updated every year to reflect the current rebuild cost.
Personal Property Coverage
All your valuables such as clothing, furniture, appliances, and electronics are covered under personal property coverage. You can choose between a replacement or actual cash value, depending on your preference. However, you might want to get a separate policy for priceless or treasured possessions like artwork, jewelry, and sports memorabilia.
Additional Living Expenses
Also known as loss of use, additional living expenses can be essential, especially when your home is so damaged that it becomes unlivable. Your insurance company in Northwest Arkansas helps you find a convenient place to stay and live as your home gets repaired.
Home insurance without liability coverage is incomplete. You may not be in a position to control all accidents that happen in your home, especially with visitors or friends around. Liability insurance helps protect you in case someone sues you for damage or injuries. The coverage is even more essential when you have teenagers in your home.
Let Adams Insurance & Financial help you protect your investment with adequate home insurance. Our talented insurance agents are ready to walk you through the insurance journey and make sure you find coverage that matches your needs, style, and budget. Contact our team today!
At Adams Insurance & Financial, there’s one question we hear a lot from Northwest Arkansas homeowners, "Do I really need insurance?"
The short answer is, yes. There are many reasons why Arkansas homeowners need home insurance!
You’ve Already Invested a Lot in Your Home.
Even though we enjoy a relatively reasonable standard of living here in Northwest Arkansas, it’s no secret that homeownership isn’t like other purchases. You’ve already invested a lot of time and funds into finding your home, purchasing it, and fixing it up to meet your personal preferences. Why risk it all without having adequate insurance coverage in place?
Life is Full of Surprises
The vast majority of homeowners never expect to lose everything they’ve invested in a fire or other sudden life events, but it happens. Whether you’ve lived in your home for years without incident or have just recently moved, the truth is that surprises can come at any time, and they are very rarely predicted. A good homeowner’s insurance policy is there as a safety net to prevent you from having to lose even more by paying out of pocket for damages.
Furthermore, here in Arkansas, we are prone to a wide variety of natural disasters. It is worth discussing your specific concerns and needs with our insurance professionals to find the coverage that will be best able to meet them.
Depending on Where You Live, Insurance May Be Required
Many condo associations and private communities require homeowners living within them to carry their own insurance coverage. It is worth noting here that any HOA fees paid in these communities very often only carry insurance coverage for common areas; they do not cover your individual home.
Ready to learn more about your Northwest Arkansas homeowners insurance options or have more questions? Our team at Adams Insurance & Financial is here to help! Give us a call, or send us a message today.