Homeowners Insurance in Lake Ozark, MO

Experts break down home insurance costs, coverages, and more for property owners in the Lake Ozark, MO.

Written by Meg Stefanac
Written by Meg Stefanac

Financial blogger and business owner, Meg Stefanac, has more than 15 years experience working in the financial services industry and enjoys helping individuals make solid financial decisions. Meg has extensive experience writing about insurance and finances and is a key contributor to TrustedChoice.com.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Lakefront Property on Sunny Day of Summer.  How to Find the Best Homeowners Insurance in Lake Ozark, Missouri.

Located on the shores of the Lake of the Ozarks, the rural city of Lake Ozark is home to around 2,000 people. Whether you are a full-time resident or have a vacation home in this tourist town, if you own your house, you can benefit from protecting your investment with a good homeowners insurance policy.  

Local independent agents are free to work with some of the most highly rated insurance companies in the Ozarks as they shop around to find you the best and most affordable coverage. Contact an independent insurance agent near you to start comparing multiple customized homeowners insurance quotes.

What Is Homeowners Insurance, and Is It Required in Lake Ozark, MO?

Homeowners insurance (or more simply, “home insurance”) is a policy that covers your house and property and shields you from financial losses related to liabilities.

Although this insurance is not required by law, your lender will want you to carry it if you owe money on a mortgage, home equity loan, or line of credit.

If you own your house outright with a clear title, home insurance is optional but highly recommended, since it protects the investment you have made in one of your most valuable assets.

How Much Does Homeowners Insurance Cost in Lake Ozark, MO?

Overall, Missouri’s homeowners insurance rates are slightly higher than the national average. Shopping around for the best policy has the potential to save you hundreds of dollars a year.

  • National average yearly premium: $1,211
  • Missouri average yearly premium: $1,285

Your actual rate may be higher or lower than this average because insurance companies base their premiums on several factors, such as:

Every insurance company you contact is likely to offer coverage at a different price. Comparing customized quotes from a few competing insurance providers lets you choose the policy that gives you the coverage you want at the most affordable rate.

Independent insurance agents in Lake Ozark make comparison shopping easy.

What Does Homeowners Insurance Cover in Lake Ozark, MO?

Homeowners insurance protects your finances in three ways:

  • By covering loss and damage to your house and personal property
  • By covering your extra living costs if you are displaced from your home
  • By covering expenses related to liability lawsuits

Read on to learn more about each of these three fundamental coverage types.

How Does Homeowners Insurance Cover Your House and Personal Property?

Your home insurance can pay to repair, rebuild, or replace your house and property if it is lost or damaged as the result of a covered event. Some of the covered risks that may affect property owners in Lake Ozark include:

  • Fires: Your policy can pay for damage caused by flames, smoke, and firefighting efforts if your house is impacted by an accidental fire, wildfire, or fire caused by an outside force like a lightning strike.
  • Property crimes: Your policy can cover the cost of replacing stolen property and repairing damage if a burglar or vandal targets your house.
  • Falling objects: Your policy can pay for repair costs if falling objects like hailstones or tree branches damage your house or property.
  • Water damage: Your policy can pay for repair costs if you experience water damage due to hazards like damaged roofs and windows or burst pipes. However, homeowners policies specifically exclude coverage for damage caused by floods.
  • Severe weather: Your policy can pay for damage caused by perils like lightning strikes, windstorms, thunderstorms, winter storms, and tornadoes.

You will want to be sure you have enough dwelling insurance to cover the cost of rebuilding your home and enough contents insurance to cover all of your personal property. That way, if a catastrophic event like a fire destroys your house, you will have the funds needed to pick up where you left off.

How Does Loss of Use Insurance Cover Lake Ozark Homeowners against Displacement?

Lake Ozark has a moderate risk for tornado activity. On average, one tornado touches down within 30 miles of this city every year.

If a major disaster like a tornado or a structure fire impacts your home, property loss and damage isn’t the only expensive outcome you may face. If the damage to your home’s structure is severe, it may not be safe for you and your family to live in it until repairs have been made.

Loss of use insurance, a standard part of every home insurance policy, can cover your extra living expenses if you must seek alternate accommodations because damage from a covered event has left your home unsafe for habitation. While your house is being repaired, loss of use coverage can pay for:

  • A hotel or other reasonable accommodations
  • Meals and groceries
  • Laundry and dry cleaning costs
  • Moving cost and storage fees
  • Pet boarding, if needed
  • Mileage reimbursement if you need to drive further to get to work

Your coverage can continue until it is safe to return to your home or until you have built or purchased a new primary residence.

Why Do Homeowners in Lake Ozark Need Personal Liability Coverage?

Anyone can be responsible for an accident, act of negligence, or error in judgment. If your actions cause another person to suffer financial losses, injuries, property damage, or other harm, the injured party may file an expensive lawsuit against you.

Fortunately, your homeowners insurance safeguards your property and assets by providing a significant amount of personal liability protection as a standard part of its coverage.

If you or someone in your household unintentionally causes harm to others, your homeowners liability insurance can cover expenses like legal defense fees, court costs, mediation costs, settlements, and judgments.

If you want to have even more liability protection than your homeowners insurance can provide, you can supplement your coverage with an umbrella insurance policy. This is an affordable way to significantly boost all of your personal liability coverage.


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Do Homeowners in Lake Ozark, MO Need Flood Insurance?

As someone who purchased a house near the Lake of the Ozarks, you probably have a love of water. However, if water gets into your home due to a flood, it can cause very expensive property damage.

Unfortunately, as some property owners learn only after it is too late, homeowners insurance does not cover flood damage.

Floods pose a major risk to homeowners in Lake Ozark. More than 370 homes (nearly 25% of this city’s residential properties) have at least a 26% chance of sustaining significant flood damage over the next 30 years. If your home is among those at risk, you may want to consider flood insurance.

A local independent agent can help you review flood maps and assess your risk of flood damage. If needed, your agent can also help you obtain an affordable flood insurance policy through the National Flood Insurance Program (NFIP), a program administered by FEMA.

What Is the Burglary Rate in Lake Ozark, MO?

The burglary rate in Missouri is higher than the national rate, but the rate is lower in Lake Ozark. Residents of this city report around four burglaries a year.

  • Number of burglaries per 1,000 people in the US: 3.76
  • Number of burglaries per 1,000 people in Missouri: 4.45
  • Number of burglaries per 1,000 people in Lake Ozark: 2.23

If you are the victim of a property crime, it may give you peace of mind to know that your homeowners insurance can compensate you for your losses. You will need a copy of a police report when you file your claim.

Home security systems make highly effective theft deterrents. You may be able to earn significant home insurance discounts if you have a burglar alarm, surveillance cameras, or other security features installed in your house. Learn more by talking to a local independent insurance agent.

Where Can I Find Cheap Homeowners Insurance Near Me?

Nobody wants to overspend on insurance, and independent insurance agents want to ensure that you don’t.

You may think purchasing the least expensive home insurance policy you can find is a wise financial decision. However, skimping on coverage is not necessarily the most cost-effective way to protect one of your most valuable assets.

Buying a cheap policy may save you money on your monthly payments, but if a disaster causes significant damage to your house, your bargain-priced policy is likely to cost you far more than it ever saved you.

The cheapest policies typically have extremely high deductibles and limited coverage, such as actual cash value instead of replacement cost coverage for your personal property. Also, cut-rate policies are often written by insurance companies that have a challenging and time-consuming claims process.

Your local independent insurance agent will help you find the policy that offers the best value for your money. In most cases, this will mean taking a pass on the least expensive policy, but the more comprehensive coverage your agent recommends is likely to serve you better in the long run.

What Are the Best Homeowners Insurance Companies in Lake Ozark, Missouri?

The insurance companies that stand out above the rest are the ones that have consistently provided their policyholders with responsive customer service, reliable coverage, timely claims processing, and competitive rates.

Independent insurance agents in Lake Ozark have teamed up with some of the best homeowners insurance companies in Missouri. When your agent presents you with a selection of policies and quotes to review and compare, you can be confident that they all come from trustworthy insurers.

How Can an Independent Agent Help Me Find the Best Home Insurance in Lake Ozark, MO?

Independent agents are ready to help you with all your insurance coverage needs. You can turn to one of these local agents for knowledgeable answers to your coverage-related questions, trustworthy advice, and help with finding the best and most affordable home insurance policy.

Arrange an obligation-free consultation with an independent insurance agent near you to learn more. You will soon discover how easy it can be to compare customized homeowners insurance quotes from multiple providers.

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