If you are like most people, your house is one of the biggest purchases you will make in your lifetime. You will therefore want to be sure to protect that investment with a solid and reliable homeowners insurance policy. You will also want to be sure that you are getting your coverage at a good price.
Independent insurance agents in Brazil, IN, can help you find the best and most affordable coverage for your home. Contact an insurance agent near you to get more information and to start comparing a selection of customized homeowners insurance quotes.
How Much Does Homeowners Insurance Cost in Brazil, IN?
The average cost of homeowners insurance in this state is lower than the national average.
- National average yearly premium: $1,211
- Indiana average yearly premium: $1,000
Your actual homeowners insurance costs will differ from the average rate mentioned above because premiums are calculated on a case-by-case basis according to several considerations such as the following.
- The age, size, and value of your house
- The type of house you are insuring (e.g. single-family detached, multi-family home, mobile home, condo, vacation home, rental property, etc.)
- The number of stories in your house and whether it has a basement
- The crime rate and weather risks where your house is located
- Your claims history and credit score
- The size of your deductible
- Whether you are bundling your coverage with other policies like car insurance or life insurance
Every insurance company has its own way of calculating rates. Comparing a variety of quotes lets you choose the policy that offers the coverage you want at the most affordable price. Independent insurance agents in Brazil make comparison-shopping easy.
What Damage Is Covered by Brazil Home Insurance?
What would you do if your house were flattened by a tornado? This is something to think about given that the risk of tornado activity in Brazil is 84% greater than the national average. Homeowners insurance can help.
Home insurance policies are designed to pay for the cost of repairing or replacing your property if it is lost or damaged by a covered event. Dwelling insurance covers the structure of your house, while contents insurance covers the personal property you keep inside it.
Common catastrophic event statistics in Indiana
- Number of federally declared disasters in Indiana: 51
- Most common causes of disasters in the state: Severe storms, floods, and snow
- Average number of tornadoes per year in Indiana: 22
- Homeowners insurance claims paid out in IN in 2019: $1 billion
- 1 in 15 insured homes has a claim each year
Brazil residents are most at risk for damage caused by property crimes, accidental fires, and severe weather events like tornadoes, electrical storms, windstorms, hailstorms, heavy snows, and ice accumulation. Fortunately, each of these hazards is covered by most home insurance policies.
What about Coverage against Floods?
As a property owner, it is important that you are aware that homeowners insurance does not cover flood damage. However, floods pose a serious risk in the Brazil, Indiana, area.
FEMA estimates that just one inch of rainwater in your house can cause as much as $25,000 in damages. Because of this, you may find it extremely beneficial to supplement your home insurance with a flood insurance policy.
A local independent agent can help you obtain an affordable flood insurance policy through the National Flood Insurance Program (NFIP). Flood insurance policies take 30 days to go into effect, so do not wait until heavy rains are on the way to buy this important coverage.
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Why Is Liability Insurance Important for Brazil Homeowners?
Homeowners liability insurance is a standard part of every home insurance policy. It is designed to cover court costs, legal fees, settlements, judgements, and other damages if you or someone in your household is unintentionally responsible for injuries or property damage to others.
Most people never find themselves in a situation where they need to use this personal liability insurance, but if you do end up needing it, you’ll be glad it’s there. Some examples of times your homeowners liability coverage can help include the following.
- If a visitor to your home is badly injured in an accident that can be attributed to negligence on your part, such as if someone slips on an icy walkway and suffers a significant injury
- If you accidentally injure someone during a friendly game of basketball at Hendrix Street Park
- If your dog gets loose and bites a neighbor. (Dog bites actually account for nearly one-third of all homeowners liability insurance claims!)
- If you or someone in your household is accused of libel or slander
Most insurance companies offer between $100,000 and $300,000 in homeowners liability coverage. If you want to have even more liability coverage than your policy can offer, a local independent agent can also help you obtain an affordable umbrella insurance policy.
Does Brazil Homeowners Insurance Cover against Burglaries?
The burglary rate in Indiana is slightly higher than the national rate. However, in Brazil, the rate is significantly higher. Residents of this small city report about 45 burglaries a year.
- Number of burglaries per 1,000 homes in the US: 3.76
- Number of burglaries per 1,000 homes in Indiana: 3.78
- Number of burglaries per 1,000 homes in Brazil: 5.58
It can be very stressful to have your home targeted by burglars. However, you may gain some peace of mind from knowing that your homeowners insurance policy can reimburse you for lost or damaged property. You will need to have a copy of a police report when you file a claim.
To lower your burglary risk, you can take preventive steps like having a friend house-sit while you are away, keeping your entryways well lit and unobscured, and by using a home security system. In fact, home security systems are so effective that many home insurance companies offer discounts to policyholders who use them.
Learn about this and other potential discounts by talking to a local independent insurance agent.
Why Work with an Independent Insurance Agent in Brazil, IN?
The easiest way to find the best and most affordable coverage for your house in Brazil is by working a local independent agent. These agents work for you, not for a specific insurance company, so they are free to shop around in their search for reliable coverage at a great price.
Find an independent insurance agent with an office near you and schedule an obligation-free consultation. Your agent can help you start comparing customized homeowners insurance quotes in no time.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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