The beautiful and historic city of Revere, MA is a great place to live. If you are among the more than 50,000 people who call this city home and you own your house, you will want to be sure to cover your investment with a comprehensive and reliable homeowners insurance policy.
Local independent insurance agents can help you find the best and most affordable coverage for your Revere home. Contact an insurance agent near you to start comparing customized homeowners insurance quotes.
Why Is Liability Insurance Important for Revere Homeowners?
Liability lawsuits can be extremely expensive. Sometimes, they can even cause so much financial harm that you could potentially lose your home. That is why homeowners insurance also provides you with personal liability insurance as a standard part of your coverage.
Homeowners liability insurance is designed to cover court costs, legal fees, and financial damages if you are sued for a covered event. Some examples of times your homeowners liability coverage may be of use include:
- If a guest in your home is badly injured in an accident that can be attributed to negligence on your part.
- If you accidentally cause injuries or property damage to someone while you are away from your home, such as while hitting the links at the Mt. Hood Municipal Golf Course.
- If someone in your household, including your children or your pets, causes injuries or property damage to someone else.
- If you are accused of libel or slander.
If you want to have more liability coverage than your home insurance will provide, you can supplement your policy with umbrella insurance. This is a highly affordable way to boost all of your liability coverage.
A local independent insurance agent can help you acquire all the liability coverage you want at a competitive price
What Types of Damage Are Covered by Revere Home Insurance?
Home insurance policies are designed to cover your property against most of the hazards you are likely to face as a property owner in Revere. This includes risks ranging from accidental fires to severe weather events.
Dwelling insurance covers the structure of your house, while contents insurance covers the personal belongings inside it. You will want to be sure that each has enough coverage to fully enable you to rebuild or replace following a catastrophic event.
Here are the stats on the most recent catastrophic events in Massachusetts:
- Number of federally declared disasters in Massachusetts: 54
- Most common reasons for disasters in MA: severe storms and hurricanes
- Average number of tornadoes per year in Massachusetts: 1.4
- Average amount of property damage per year in MA: $808 million
- 1 in 15 insured homes has a claim each year.
Revere residents are most at risk for damage caused by hurricanes, severe storms, hail, and strong winds. Additionally, heavy snows and freezing temperatures have the potential to cause expensive damage to your home, particularly if a water pipe bursts.
Fortunately, all of these hazards are covered by most home insurance policies.
A Word about Flood Damage in Revere, MA
It is important to be aware that home insurance does not cover damage caused by floods, which present a very real risk in Revere. When winter thaws saturate the ground and hurricanes bring prolonged, heavy rains to the area, drainage systems can become overwhelmed and this can lead to area flooding.
Residents with properties near Broad Sound and Chelsea Creek are most at risk, but flash flooding has the potential to occur just about anywhere in this coastal city.
Fortunately, a local independent agent can help you supplement your homeowners insurance coverage with a flood insurance policy through the National Flood Insurance Program (NFIP). Flood insurance is more affordable than you might think. Talk to your insurance agent to learn more.
Does Revere Homeowners Insurance Cover against Burglaries?
The burglary rate in Revere is higher than the state average but lower than the national rate. Residents of this city report more than 100 burglaries every year.
- Number of burglaries per 1,000 homes in the US: 4.69
- Number of burglaries per 1,000 homes in Massachusetts: 2.82
- Number of burglaries per 1,000 homes in Revere: 3.60
You may gain some peace of mind by knowing that if your house is broken into, your homeowners insurance can reimburse you for your losses as well as for any damage the burglar may have caused.
If you own any particularly valuable possessions, you may need to purchase special endorsements, or riders, in order for them to be fully covered by your contents coverage. A local independent insurance agent can help you be sure that your property is properly insured.
How Much Does Homeowners Insurance Cost in Revere, MA?
The average cost of home insurance in Massachusetts is higher than the national average, and in Revere, the average rate is even higher. This makes shopping around for the best rate all the more important.
- National average yearly premium: $1,173
- Massachusetts average yearly premium: $1,379
- Revere average yearly premium: $1,429
Of course, your actual homeowners insurance quotes are likely to be different from these rates. This is because costs are calculated individually according to several different factors. These can include:
- The age, size, and value of your home
- The number of stories in your house and whether it has a basement
- The materials used in the construction of your house
- Your claims history and credit score
- The crime rate and weather risks in your ZIP code
- Whether you are bundling your coverage with other policies like car insurance or life insurance
Each insurance company has its own way of assessing risk and computing rates, so comparing a variety of quotes lets you to choose the homeowners insurance policy that offers the coverage you need at the lowest price. Independent insurance agents in Revere make comparison shopping easy.
What about Revere Residents with Second Homes and Vacation Homes?
Maybe you maintain a winter vacation home in the mountains, or perhaps you have a second home that you rent out for additional income. Whatever your reasons, if you own more than one house, you will need to be sure that all of your properties are covered by appropriate homeowners policies.
When you own a house that is not used as your primary residence, there are often additional risk factors that insurance companies will take into consideration. In some cases, you may be required to purchase specialized home insurance coverage.
- Vacation properties that are not used for several months out of the year typically have an increased risk of property damage. Your insurer may require you to have vacant home insurance during the times your vacation house is unoccupied.
- Second homes that are occupied by tenants have higher liability risks and a greater chance of sustaining serious property damage. These homes typically need to be covered by landlord insurance.
A local independent insurance agent can help you be certain that all of your residential properties are properly covered by competitively priced policies.
Why Work with an Independent Insurance Agent in Revere, MA?
The easiest way to obtain the best and most affordable insurance for your Revere home is by working with a local independent agent. These agents work for you, not for a particular insurance company, so they are able to shop around in order to find you reliable coverage at a competitive price.
Find an independent insurance agent with an office in Revere to set up a one-on-one consultation. You can start comparing customized homeowners insurance quotes in no time.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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