If you are looking for the perfect homeowners insurance policy to meet your coverage needs in Hammond, LA, you are in the right place. Whether you just moved to Hammond for a new job opening or you have lived there for all your life, if you recently purchased a new house, you will want to get a reliable homeowners insurance policy.
What is homeowners insurance and what kinds of things does it cover? How much does homeowners insurance cost? Why do I need personal liability insurance? Does a standard homeowners insurance policy cover against catastrophic events? Does homeowners insurance cover against burglaries? Let us take a closer look to find out the responses to these questions and more.
Independent insurance agents can help you to find the most reasonably priced insurance coverage for your Hammond, LA, home. Locate an Independent insurance agent near you to learn more, and you can soon start reviewing customized homeowners insurance quotes from an assortment of first-rate insurance agents.
What Is Homeowners Insurance and What Does it Cover?
According to Marshall Wilson Reavis III, insurance is “a method by which interested members of society can band together and collect funds to pay losses suffered later by members of a group.” In other words, everyone in a society shoulders a portion of the insurance burden to make sure one person does not lose everything.
So, what does homeowners insurance cover? Homeowners insurance provides coverage in the following six categories:
- The dwelling, which is the main house, and anything directly attached to it, such as a garage.
- Other structures that are not attached to the house, such as detached garages, fences, sheds, or guesthouses.
- Personal property, including furniture, appliances, electronics, and clothing. Curiously, the policy also covers property lost or damaged off-site such as at a storage facility or even with your child at college.
- Liability costs if someone is injured on your property.
- Medical bills if someone is injured on your property or injured by your pets.
- Loss of use coverage, which helps cover living expenses while the home is being repaired.
The average price of homeowners insurance in Louisiana is much higher than the national average, so it is important to shop around and compare rates. Following are the national and state averages for annual homeowners insurance:
- National average yearly premium: $1,211
- Louisiana average yearly premium: $1,968
Though averages only give you a ballpark idea of the fees you will be expected to pay for annual homeowners insurance, rates can also vary from one homeowner to another. The following factors determine the rates you will pay for annual homeowners insurance:
What Is Personal Liability Insurance and Why Does My Hammond, LA, Home Need to Have It?
Personal liability insurance covers your assets if you (or a member of your household) accidentally injures a third-party person or damages the property of a third-party. It is known as “third-party insurance,” because it protects you in case of a third-party lawsuit against you.
Personal liability insurance is very important coverage to have as it will pay for a legal defense in the event of a claim. It will also pay medical and/or property claims for which you are found legally liable, up to the limits of your homeowners insurance policy.
If you need to further boost your homeowners insurance with higher personal liability limits than your existing insurance policy allows, your agent can also help you in finding a reasonably priced umbrella insurance policy. Umbrella insurance is a cost-effective way to augment all your personal liability coverage needs.
A few cases in which personal liability coverage might protect you include the following:
- Your teenager hosted a block party and trashed neighboring houses.
- The skateboarder in your family set up a jump ramp in the road causing an auto accident.
- Your weed eater kicked up a rock and broke your neighbor’s window.
An independent insurance agent in Hammond, LA, can help you to obtain the personal liability insurance options you need.
Does Homeowners Insurance Cover against Catastrophic Events in Hammond, LA?
Your homeowners insurance policy is designed to protect you against many of the threats you face as a homeowner in Hammond, LA. For this reason, it is important that you make sure you can repair or rebuild your home by setting your insurance coverage requirements high enough. Residents of Hammond, LA, are most at risk for damages caused by the following catastrophic events:
- Flooding and water damage
- Burglary and other property crimes
- Hurricanes and tropical storms
- Severe storms and lightning damage
Further, the following are some catastrophic event stats in Hammond, LA, and the surrounding area:
- Number of federally declared disasters in LA: 90 since 1953
- Most common reason for disasters in LA: hurricanes
- Average number of tornadoes per year in LA: 37
Citizens near the Gulf coast are most at risk for flood damage, although flash flooding can happen anywhere. This is where an independent insurance agent can help you increase your coverage with a flood insurance policy.
Talk to your independent insurance agent for help in guaranteeing that your house is properly covered.
Does Homeowners Insurance Cover against Burglaries in Hammond, LA?
Being the target of a break-in is alarming. If your Hammond, LA, home is broken into, you might find some relief in knowing your homeowners insurance will award you compensation for damage, as well as, any other property damage the burglars did to your home.
The 2018 crime rate in Hammond, LA was 939, which is 3.4 times higher than the US average. In the last five years, Hammond has seen a rise in violent crime and a decrease in property crime. The burglary rate in LA, and in Hammond in particular, is much higher than the national average, which also puts you paying a much higher rate of homeowners insurance.
- Number of burglaries per 100,000 homes in the US: 376
- Number of burglaries per 100,000 homes in LA: 668.1
- Number of burglaries per 100,000 homes in Hammond: 3,027
Another thing that can help your homeowners insurance rate is to install a home security system. Many insurance firms offer deductions to clients who have security systems installed in their homes.
An independent insurance agent can help you find all the potential discounts for which you may qualify.
Why Work with an Independent Insurance Agent in Hammond, LA?
One of the best ways to find a good homeowners insurance policy is to work with an independent insurance agent. These specialists go to work for you, not a specific insurance firm. This allows you to make sure you are getting reliable information as you shop for the homeowners insurance coverage options you need for your Hammond, LA, home.
Independent insurance agents in Hammond, LA, are happy to help you find the best homeowners insurance for your needs. Contact an independent insurance agent near you to begin reviewing customized homeowners insurance quotes immediately.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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