Why You Need Home Insurance

Your home is likely your most valued asset. Even if you are renting, all your valuables are stored within your residence. Still, you may wonder why you actually need a Home insurance policy. Here are a few reasons why you need a home insurance policy.

Lenders Require Home Insurance

If you have a mortgage on your home, your lender will probably require you to have home insurance. This is to protect their investment as well as yours. Phil Klein Insurance Group can help homeowners in West Bloomfield, Michigan determine the homeowner’s coverage that is required by their lender.

Financial Protection

Homes can become damaged due to a myriad of things, from natural disasters to leaky roofs. These damages may well exceed what you can cover out of pocket, even if your home isn’t a total loss. Without homeowners insurance, you would be faced with getting a loan to repair or replace your home. Then there’s the cost of replacing your things, which most loans won’t cover.

Your Possessions are Valuable

If you are renting, you may not see a need for home insurance. However, your possessions are valuable too. Even if your home doesn’t contain priceless valuables, it would require a good deal of money to replace your possessions. Most of us accumulate possessions throughout our lives and don’t really consider how expensive it would be to purchase everything we need for our home at one time.

Protection From Liability

In many cases, if someone is hurt or injured on your property, they can hold you responsible for their medical bills. In some cases, you may be responsible for lost wages or damages as well. Homeowners insurance can protect you from these risks, and pay associated costs in the case of an incident.

Phil Klein Insurance Group is an independent insurance agency in West Bloomfield, MI. This allows us to find the right home policy for your needs.

 

Extended Family Moving in With You? Does Home Insurance Cover Their Property?

It is becoming more and more common for many members of the same family to live under one roof. Children are living with their parents longer than they ever have before, or are coming back after leaving the nest. And the elderly are starting to live with their children or other members of their family, such as nieces and nephews. You likely know that your home insurance policies cover your personal property in the event of a fire or against theft. Here at Phil Klein Insurance Group, serving the greater West Bloomingfield, MI area, we have noticed that people are asking whether their extended family’s property is covered as well. Here is the answer to that question. 

Every home insurance policy is different. As such, the wording from one policy may vary from that of another policy. However, as a general rule of thumb, if the people moving in with you are actually relatives and related to you, their property is typically covered under your home insurance policy. But, you will want to carefully review your policy and the wording to ensure their property is covered. You should never assume it is. If it is not covered, you may be able to add them to your policy or they may be able to purchase a renters policy to cover their belongings. 

If you have extended family moving in with you, now is the perfect time to review your home insurance policy. If your policy no longer fits your needs, contact Phil Klein Insurance Group, serving the greater West Bloomingfield, MI area today. We can help you find the right policy for your needs. 

Does home insurance cover accidents that occur on my property?

At Phil Klein Insurance Group, we help our clients protect their homes and property so that they and their loved ones can live their lives knowing that if something were to happen, they would be protected. Anyone owning a home in West Bloomfield, MI can purchase a policy that protects against losses caused by events like fire or theft. But many people worry about what would happen if an accident were to occur on their property, and what the consequences to them would be. 

Fortunately, most home insurance policies also protect against basic liability. For instance, someone could come to your home and slip on ice that you had failed to remove from the front walk. They could sue you for the injuries, including the medical bills they had to pay because of the accident. If you didn’t have insurance, you would have to pay for the medical bills, any property that was damaged, and the court costs associated with the lawsuit.

The general liability policy that is a part of your homeowner’s insurance policy will pay those damages as part of a claim. The policy even covers the court costs, including possible attorney costs. The main problem is that if the expenses are significant, they will probably not be covered because your policy will have a general liability limit. If you are worried about the limit, you can discuss it with your agent. You may want to raise your policy limits or get an umbrella policy that covers more significant losses.

If you have a home in West Bloomfield, MI, make sure you’re protected. Contact Phil Klein Insurance Group today so we can discuss your options.

What Does Home Insurance Cover and Not Cover?

Home insurance, also known as homeowners’ insurance, is a type of coverage purchased by anyone who owns a home, whether that is a single-family residence, townhouse, condominium, or any other home ownership situation. A home insurance policy typically has certain things it covers and others that it doesn’t cover. Here is some basic information you need to know about that, courtesy of Phil Klein Insurance Group in the West Bloomfield, MI area.

Covered

Home insurance is a necessity for any homeowner, and it covers issues affecting housing structures, such as the house itself, garage, and other structures. It covers damage to belongings resulting from natural disasters like hail and wildfires as well as catastrophic events like house fires. It also covers issues like theft. It includes various belongings like furniture, lighting fixtures, appliances, electronics, and more. 

Not Covered

There are many things that home insurance covers, but there are also some things it doesn’t cover. This includes disasters like floods and hurricanes, which many home insurance policies require special insurance to cover. Many policies also do not cover mold. It is possible that your insurance offers the option to add coverage for those types of problems, so ask when you are setting up your policy. Home insurance does not cover damage caused by the owner or a guest, such as a window or a garage door that is damaged through carelessness. Although a home insurance policy provides coverage for belongings, it might not provide enough benefits for high-dollar valuables, such as fur coats and jewelry. In that type of scenario, it’s wise to consider purchasing extra coverage.

What home insurance will cover and doesn’t cover varies from policy to policy. Do you have questions or need help with getting home insurance? We’re only a phone call away. Feel free to contact Phil Klein Insurance Group, serving the West Bloomfield, MI area, when you’re ready to explore options.

Is Your Home Ready for the Cold Weather?

Cold weather will be here before you know it in West Bloomfield, MI. You do not want it to take you by surprise and allow it to cost you money for repairs and other losses along the way. Before it gets too cold, consider implementing some of these tips from Phil Klein Insurance Group.

  • Get your heater checked. The last thing you are going to want to deal with this winter is a heater that does not work with freezing temperatures outside. You can avoid this from occurring in your home by getting your heater checked now. Have a professional come out to give it a tune-up and ensure that it is working properly before it gets cold outside. 
  • Prep your pipes. There is no doubt that the temperature will get below freezing at some point this winter. You should make sure that all of your exposed pipes, both inside and outside of your home, have some protective covering to help prevent them from freezing. You can get some good covers from your local hardware store and install these yourself. 
  • Check your windows and doors for leaks. Unless you want to help heat up the outside, you should check for any places your heat can leak out. You should consider caulking your windows as well as checking your doors for any gaps. If you find any, get them fixed so you can save on your heating bills.

Winters in West Bloomfield, MI can be brutal, but you can keep your home safe and protected with these tips and more. Another thing to do is get a great home insurance policy to help protect you from the things that you cannot predict. Contact Phil Klein Insurance Group to get started on your quote today or try our online rating tool.

Consumer Home Insurance Tips in Birmingham, Michigan

Phil Klein Insurance Group in Birmingham, Michigan was created for you – the customer. Phil and his team not only want to offer you affordable home insurance coverage; they want to make sure that you understand your policy; enabling you to sleep in complete confidence.

Consumer Tips in Birmingham MI

Home Insurance is not required by law in Michigan; nor is owning an umbrella. But when you are caught in a downpour-the coverage sure is comforting. Homeowners Insurance is designed to protect you and your family when the unexpected happens.

Insuring your home through the Phil Klein Insurance Group is comforting and provides that needed coverage for unexpected downpours in your life. Invest in your home wisely with these tips.

  • Shop around. Companies in Birmingham, Michigan are competing for your business. Stop by and meet the agents. Get quotes online or by phone. Quotes are free and help you categorize your options according to your budget.
  • The economic rules of Insurance can cause higher priced companies to lower their rating due to pressure brought on by consumer choice.
  • Shopping for insurance will never be as exciting as shopping for shoes, but by becoming knowledgeable about which questions to ask – you will find the best fit.

Top Questions to Ask

By asking questions, you can chart the answers and have a comparable resource to help you choose the best home insurance coverage.

  • What losses does your policy cover? What loses are not covered by your policy?
  • The Michigan state law allows all companies to offer discounts on insurance coverage. Ask which discounts are available to you. Each one will save you some money.

Be sure and add Phil Klein Insurance Group in Birmingham, Michigan to your shopping list-we have you covered.