Category: Home Insurance

Home insurance and homeowners insurance are two separate coverage options for your home. While these coverage options are similar, the only difference separating these coverage options is homeowners insurance covers more than the structure of your home. If you’re looking for home insurance in Mesa, AZ, the Precision Insurance Team can help. 

What Is Included In a Standard Home Insurance Policy?

A standard home insurance policy in Mesa, AZ includes different coverage options. These different standard coverage options include:

Home Structure and Property

Home insurance gives you financial protection for your home’s structure as well as any property in the home in the instant a covered event occurs.

Additional Living Expenses

Home insurance also covers your additional living expenses that incur while you’re making repairs. These additional expenses can include lodging and dining.

Liability Protection

A standard home insurance policy has liability protection. If someone is injured while on your property, or you are held accountable for damaging someone’s property, your liability policy will help cover the expenses.

What Are the Different Types of Home Insurance Policies?

There are different types of home insurance. If you have a different type of home loan, you will most likely have an HO-3 policy, which is the most common type of Mesa AZ home insurance. HO-3 policies often include:

• Housing coverage
• Covering other structures
• Personal property coverage
• Responsible 
• Medical payments
• Additional living expenses

Each type of home insurance policy covers different risks, such as water damage, fire, and theft. 

How does homeowners insurance work?

The home insurance journey can be broken down into different steps, each with its own set of considerations. Understanding each step can help you understand how your policy works.

Here at the Precision Insurance Team, we are ready to help you choose a home insurance policy that fits your needs. Contact us today to learn about our insurance services and how we can help you.

Buying home insurance can be a nerve-wracking endeavor. There are plenty of things to consider, and you want to make sure that you’re getting the right coverage. At the Precision Insurance Team, we know that Mesa, AZ residents want to avoid insurance mistakes. Here are three of the most common ones you should avoid. 

Buying the Wrong Coverage Amount

Arizona may not require homeowner’s insurance, but that doesn’t mean you won’t need it anyway. Your bank or mortgage company might require it, even if the state doesn’t. When these institutions do require proof of insurance, a lot of homeowners choose the bare minimum policy. Unfortunately, that policy may not be enough. When disaster strikes, many of these homeowners spend a lot of money out of pocket. 

Forgetting Rebuilding Costs

Some homeowners forget the cost of rebuilding when they buy home insurance. They think about the overall value of their home instead. Of course, the cost of your home does matter. However, the cost of rebuilding your home may be different than your home’s market value. When it comes to insurance, rebuilding costs matter most. Think about these costs before you purchase your policy. 

Not Asking Questions

Just like with any major purchase, you should do your research when you buy home insurance. A lot of new homeowners don’t do that. They buy the first policy they find without giving it a second thought. Don’t make this mistake. Your insurance agent should be more than willing to answer your questions. If you’re curious about your coverage options, just ask. 

And if you live in Mesa, AZ and want to discuss home insurance, the Precision Insurance Team is more than happy to answer your questions. Get in touch with us today to discuss your options. 

If you own a home in Arizona, you are going to need home insurance. However, you need to be familiar with what your insurance policy covers. The professionals at Precision Insurance Team, an insurance company that serves the residents of Mesa, AZ, understand that a lot of homeowners don’t understand what is and isn’t covered until it is too late, which means a loss has already occurred.

So, What Does Homeowner’s Insurance Cover?

As a general rule, homeowner’s insurance will cover any kind of damage that occurs as a result of thunderstorms, hail, lightning, theft, and vandalism. Any kind of damage your home sustains due to a flood or earthquake is typically not covered. However, you can protect yourself and your home from this type of damage by purchasing additional and separate coverage.

What Type of Coverage Is Offered by Homeowner’s Insurance Coverage?

In the event that you do sustain damage from one of the covered events outlined in your policy, what kind of coverage can you expect?

Dwelling Coverage

This type of coverage will pay to either repair or rebuild everything in your home. Because these costs can be exorbitant, you need to sit down with an insurance agent to make certain you have the proper coverage limits to repair/rebuild your property.

Additional Structures Coverage

This type of coverage pays to repair or replace other structures on your property, such as a detached garage or shed.

Personal Property Coverage

This type of coverage covers your personal property up to a certain amount in the event it’s damaged or destroyed in a policy covered event.

Liability Coverage

This type of coverage covers your personal property and will cover legal defense costs in the event legal action is taken against you after someone is hurt on your property.

Loss of Use Coverage

This type of coverage covers your living expenses in the event you must stay somewhere else, such as a hotel, while your home is being repaired or rebuilt.

Visit or call Precision Insurance Team to learn more about homeowner’s insurance and what options are available to Mesa, AZ homeowners.

If you own a home, you most likely are required to have home insurance by your lender. However, even if this policy is not required of you, you still need to have one in place and keep it up for as long as you own the home. To get started, give us a call at Precision Insurance Team in Mesa, AZ. 

Protecting Your Home

When you have a home insurance policy, it protects you in case your home is damaged or destroyed. The policy has a long list of covered accidents and disasters that can and do damage homes. If your incident is one of the covered ones, you can have the repairs or rebuild paid for by the policy. Without home insurance, you would have to come up with all of the money for the repairs, and this could send you deep into debt. 

Covering Your Possessions

Also included in your home policy is coverage for all of your belongings that are inside your home. A serious incident that causes a lot of damage to the home may also cause a lot of damage to your things. It can be exceptionally expensive to get everything replaced after it’s ruined. But, with home insurance, the cost of replacing everything comes from the policy and not from your pocket. 

Accident Liability

Yet another portion of your home insurance is devoted to liability coverage. If someone came into your home and then was injured there, you may be liable for expenses such as their medical bills and lost wages. Your liability coverage takes care of these costs so that you aren’t likely to be sued. 

Cover Your Home

If you don’t yet have a home insurance policy, it’s time to remedy that problem. Call us at Precision Insurance Team in Mesa, AZ.

Fire is a severe problem that impacts many hot-weather areas, particularly in cities like Mesa, AZ. If you’re worried about this issue and aren’t sure if your homeowner’s insurance will help, we at Precision Insurance Team can help you understand your options to minimize your financial loss.

Understanding Electrical Fires and Your Home Insurance 

Electrical fires can occur at just about any time in a home and can be devastating if they’re allowed to spread uncontrolled. There are many causes for this problem, including poor wiring, complications with various appliances, and other concerns that may be unexpected. 

It is reported that around 46,000 home fires occur every year in homes, with approximately 13% of them being electrical. Thankfully, home insurance policies will help to cover this type of damage in a relatively broad and comprehensive manner. Most home insurance policies cover fires better than floods and other damage. 

Thankfully, you can also expand your coverage to include other elements that your home insurance policy may not pay to replace. For instance, you may be able to find liability coverage if anybody is injured in your home due to the fire and needs medical treatment to recover.

The type of protection that they offer includes things like replacing damaged structural elements, providing you with new appliances, and even replacing your home entirely if it burns down. Some policies even help pay for temporary abode payments if you need to move into a hotel or apartment. 

Finding a Policy That Works for You 

As you can see, high-quality home insurance policies can provide long-term protection from fire-related problems. So please contact us at Precision Insurance Team if your Mesa, AZ home needs a better approach that will provide the long-term coverage benefits that work for their needs.

As a proud homeowner, it is important to make sure that your cherished asset is protected, and one way you can do this is by acquiring home insurance. That’s where the Precision Insurance Team comes in. For homeowners in Mesa, AZ, we have coverage that will enable you to live your best life, stress-free despite everything, and secure in the knowledge that we have you covered.

Why You Need Home Insurance

It is important to be prepared for the worst despite praying for the best, and since an individual can only do so much to keep their property safe, home insurance is a necessity. The following are some scenarios that show you why you need to take out a policy for your home:

• If a guest is accidentally injured at your house, guest medical protection under your home insurance pays for their treatment.
• If thieves break in and make away with your valuables, the personal property coverage helps to pay for the loss in part or whole.
• If a shed, fence, or other property detached from your home is damaged in a situation covered by your home insurance, the other structure’s coverage caters to the replacement cost.
• In case of an incident like a fire or other damage that comes to your home, making you unable to live in it, additional living expenses coverage makes sure to cover temporary living costs such as hotel accommodation expenses.
• If someone visiting you encounters accidental injury, or their property is damaged in your house, the personal liability coverage pays for the related repair and medical costs, as well as any legal fees.
• Finally, if your home itself is damaged by something covered, like hail, the dwelling coverage will help you cover the repair costs.

Get Good Home Insurance

For the sake of your peace of mind and the financial implications, it is important to get home insurance, and when you visit the Precision Insurance Team’s website, you will see plenty of other resources. Homeowners around Mesa, AZ are welcome to see what we can offer, and we will help you get robust coverage for your home. Try our online rating tool for a quote.

Choosing your home insurance is one of the most important decisions homeowners make. Unfortunately, many people decide based on their wallet, and while the price is always a consideration, having an insurance carrier who is responsive when you need them is also important. The Precision Insurance Team in Mesa, AZ is an independent agency that offers its clients the help and advice they need to make educated choices when it comes to home insurance.

Get multiple quotes

The Insurance Information Institute recommends that you get at least three quotes before deciding on your home insurance. It isn’t all about the cost. However, it would be best to compare the figures on the declaration page to compare apples and oranges. 

Check the coverage

Home insurance policies offer various types of coverage, and the amount of each coverage affects the policy’s cost. You don’t want excessive coverage, but you also require adequate coverage. You need enough property coverage to rebuild your home if it is destroyed and enough liability coverage to protect your assets. You may even want to think about an umbrella policy. 

Deductibles and limits

Home policies have a deductible when you file a claim. Common ones are between $500 and $1000 but could be more. You must decide which one makes the most sense to you and if the savings from choosing the higher amount are worthwhile. Certain items will have limits on coverage, such as jewelry. Consider adding a rider to supplement any limit that is not adequate.  

In Mesa, AZ, the  Precision Insurance Team is here for you to share our experience with home insurance. Making the right choice is important, and we will happily help you find the right home insurance. We can do that in our office or on the phone. Let us give you a no-obligation quote.