Homeowners Insurance in St. Charles, MO
Experts break down homeowners insurance costs, coverage, companies, and more in St. Charles, MO.
St. Charles, MO is a northwestern suburb of St. Louis located along the Missouri River. It is home to over 71,000 residents.
St. Charles, MO homeowners must protect their greatest asset: their homes. If you own a home in St. Charles, you can have peace of mind by purchasing a quality, affordable homeowners insurance policy that helps you recover when your home or belongings are damaged.
A local independent insurance agent can help you shop for the best homeowners insurance in St. Charles, MO. Independent agents can obtain competitive quotes, answer your questions, and ensure you get the coverage that best fits your needs and budget.
What Is Homeowners Insurance?
Homeowners insurance is a type of personal insurance that covers the costs of property damage. If your home is damaged or destroyed by a fire, storm, tornado, burglary, or another catastrophic event, your St. Charles, MO homeowners insurance should cover repairing or rebuilding your home and replacing damaged possessions.
Homeowners insurance also provides liability insurance, which protects you if you or a family member injures someone else or damages someone else’s property.
What Does Homeowners Insurance Cover in St. Charles, MO?
A typical homeowners insurance policy in St. Charles, MO includes the following types of property coverage:
- Dwelling coverage: Pays to repair and replace your damaged or destroyed home.
- Contents coverage: Pays for damage to your insured personal property, such as furniture, clothing, artwork, etc.
- Other structures coverage: Covers any detached structures on your property (e.g., sheds, fences, detached garages).
- Loss of use coverage: Pays for additional living expenses (hotel bills, food, etc.) if you are forced to live somewhere else while your home is being repaired.
It’s important to have sufficient dwelling coverage to repair or rebuild your house and enough contents coverage to repair or replace all of your personal property fully.
Homeowners insurance in St. Charles, MO also includes homeowners liability coverage. It protects you when someone claims you have caused an injury or property damage. It covers the injured party's expenses (e.g., medical bills, property repairs) and your legal fees if you're sued. After a lawsuit, it can even cover financial settlements or court-ordered judgments.
What Is Not Covered by Homeowners Insurance in St. Charles, MO?
Homeowners insurance in St. Charles, MO covers many problems homeowners can encounter. But keep in mind that homeowners insurance does not cover flood damage.
Flooding can be a problem in some areas of Missouri. In fact, it is one of the top five risks for homeowners in the state, and St. Charles has a moderate flood risk. There are 2,506 properties in St. Charles that have a greater than 26% chance of being severely affected by flooding over the next 30 years.
If your home has any flood risk, it's good to discuss purchasing flood insurance with your insurance agent to supplement your home insurance policy.
When you buy a flood insurance policy through the National Flood Insurance Program (NFIP), you can affordably get up to $250,000 in structural coverage and $100,000 in contents coverage for your home.
The liability coverage in your homeowners insurance policy in St. Charles, MO also has certain limitations. If, for example, you hurt someone because of an intentional act, your liability coverage will not cover you. You can find all the exclusions to your liability coverage in your policy documents.
And remember, almost all homeowners insurance policies in St. Charles, MO will exclude coverage for property damage caused by the following:
- Ordinance or law (e.g., demolition or construction required to bring your house up to code)
- Earth movement (e.g., earthquakes, sinkholes, landslides)
- Water damage due to floods, sewer backups, and water that seeps through the foundation
- Power failure
- Nuclear hazard
- Intentional acts
- Governmental action (e.g., destruction, confiscation, or seizure of covered property by any governmental or public authority)
- Loss to property resulting from faulty zoning, bad repair or workmanship, faulty construction materials, and defective maintenance.
It's essential to understand your policy's exclusions when purchasing your homeowners insurance in St. Charles, MO.
How Much Does Homeowners Insurance Cost in St. Charles, MO?
Missouri is the 16th most expensive state for home insurance. The average cost of homeowners insurance in Missouri is higher than the national average.
- National average yearly premium: $1,211
- Missouri average yearly premium: $1,285
Of course, your homeowners insurance premiums will be more or less than the average for your city. And you can still shop around for the best local rates.
It’s important to know that your insurance premiums are calculated according to your exact coverage needs and your home's unique characteristics and risk factors.
The age, size, value, and materials used to build your home will help insurance companies determine how much it would cost to replace it if it were severely damaged or destroyed. Insurance companies also evaluate your city's crime rate and weather risks, claims history, and even credit score to determine your home insurance premium.
Many policyholders qualify for homeowners insurance discounts, such as home insurance bundles. Consider bundling your car insurance or life insurance with your home insurance to get the best rates.
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What Common Disasters and Claims Are Covered by Homeowners Insurance in St. Charles, MO?
St. Charles, MO homeowners may be affected by various disasters and other reasons to file an insurance claim. Missouri has experienced 68 federally declared disasters since 1953. The top five property risks for homeowners in Missouri are:
- Severe storms and lightning damage
- Flooding and water damage
- Ice storms and freezing
- Burglary and other property crimes
Unlike flood damage, burglary and other property crimes are covered by home insurance in St. Charles, MO. If you experience a break-in, burglary, or other property crime, your home insurance can help you recover from your loss.
Unfortunately for Missouri homeowners, the statewide burglary rate is higher than the national average:
- Number of burglaries per 1,000 people in the US: 3.76
- Number of burglaries per 1,000 people in Missouri: 4.45
A reliable homeowners insurance policy can quickly help you get back on your feet after a burglary. It helps you pay for damage to your home, as well as repairing or replacing stolen or damaged possessions.
Cheap Homeowners Insurance Near Me
Finding the best rate on home insurance in St. Charles, MO is important for everyone. But it's important to understand that cheapest is not always the best.
The best way to approach your search for homeowners insurance is to shop around not just for the cheapest policy, but also for the policy that offers the best coverage to protect your home and that fits your budget.
One way to ensure adequate coverage is to learn how your homeowners insurance policy in St. Charles, MO reimburses you for claims. If you have an actual cash value policy, it will pay claims based on the amount needed to replace or rebuild lost or damaged property after deducting for depreciation. That means the policy will reimburse you for what your items are worth now, not what it would cost to purchase a comparable item at today's prices.
Actual cash value policies are generally the least costly option. But in this case, cheaper is not necessarily better. If you have a loss, you may not be able to rebuild your home or replace your belongings sufficiently.
On the other hand, replacement cost policies pay the cost of rebuilding or repairing your home or replacing your possessions without deducting depreciation. If you have replacement cost coverage, you should be able to repair or rebuild using the same or similar materials at today's prices.
Some insurers offer guaranteed replacement cost coverage, a costlier option that protects you from sudden increases in building costs. Guaranteed replacement cost policies pay whatever it costs to rebuild your home as it was before a fire or other disaster, even if it exceeds the policy limit.
Discuss these issues with your independent insurance agent before deciding which policy offers the best value for your needs and budget.
What Are the Best Homeowners Insurance Companies in St. Charles, MO?
Finding the best homeowners insurance companies in Missouri can be simple. A local independent insurance agent can help you get home insurance quotes from multiple insurance companies so that you can select the best policy for your needs and budget.
How Can an Independent Insurance Agent Help Me Find the Best Homeowners Insurance in St. Charles, MO?
Instead of getting an online quote, find an independent insurance agent now, and get a one-on-one consultation and affordable options for the best coverage for your unique needs. Your agent will work with you free of charge, offering you various options so you can make the best choice.
What’s more, your agent will be there for you when claim time comes. They know the ins and outs of the process and will make sure your claim is handled appropriately.
Contact an agent today for a free, no-obligation consultation.
TrustedChoice.com Article | Reviewed by Jeffrey Green
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