Home insurance may be new for those who are buying their first home. There are a few things that you should know when you are looking for a policy. Talk to a professional, like the ones at JC Demo Insurance Group in Matthews, NC so that you can ask questions that they will be able to answer.

Basic Insurance Coverage

• Internal and external damage may be covered if it states in your policy that you will be covered for costs associated with damages to your home due to storms, vandalism, lightning, and fire. If your home had flood or earthquake damage, you would need to get a special policy, known as a rider, to cover the cost of the repairs.

• Your clothing, furniture, and appliances can be replaced, repaired, or reimbursed for the cost depending on your plan’s details.

• Liability would be a big issue if someone trips and falls on your property, and they were injured due to your negligence. You would have to spend thousands of dollars out-of-pocket for the individual’s medical costs. If you have to go to court, you could also pay court and lawyer fees. This could be avoided with liability insurance attached to your homeowner’s policy.

Replacement Coverage

• Actual cash value is when your damaged items are refunded minus depreciation costs. If your furniture is destroyed in a fire, then the actual cash value would be the value of the furniture at today’s prices, not at the price you paid for it.

• Replacement cost is the value of your damaged property at its cost but without the depreciation.

When you’re ready, you can stop by the offices of JC Demo Insurance Group in Matthews, NC to start your insurance policy today. You can also get great information about life insurance, auto insurance, and commercial insurance.