Welcome to Trailstone Insurance Group. Our top priority is helping you find the best insurance policy. The world of insurance can be quite tricky to navigate but with our expertise, you’ll be ready to make a good decision regarding your home insurance policy.
We partner with top insurance companies in the United States to provide you with great coverage at an affordable price. With Trailstone Insurance Group, you don’t have to worry about unforeseen events that could disrupt your life at home or your financial status.
Let us guide you through the world of home insurance so you know more about your insurance needs and how we help you fulfill them
Our home and auto insurance services extend to Utah, Arizona, Washington, Idaho, Colorado, and Oregon.
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What is Home Insurance?
Home insurance or homeowners insurance is a type of property insurance that is designed to protect your home, as a structure, and its contents from any damage or loss. It covers events like fires, storms, theft, vandalism, and more. It also provides liability coverage for accidents that might happen on your property. So, if someone is injured in your house, the legal and medical expenses are covered by in your home insurance. Instead of bearing financial losses, you will have peace of mind knowing your home insurance covers you.
Why Choose Trailstone Insurance Group?
There are many advantages to choosing Trailstone Insurance Group. We deeply understand the insurance market inside out, which makes us able to offer comprehensive insurance policies at an affordable price. We hammer away to provide a custom-made policy to fit your needs and protect your home, possessions, and finances. Not to mention that our customer service representatives are great at providing support whenever you need it.
Our team comprises insurance professional who can provide you with guidance every step of the way, from comparing quotes to claim submission. With Trailstone Insurance Group, we are committed to protecting your home from the unexpected with the homeowners insurance company that checks all your boxes.
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What Does Home Insurance Typically Cover?
Home insurance policies aren’t all typical, but they all offer coverage in several key areas to protect your home and financial status. These are some of the standard coverages:
- Dwelling Coverage: This coverage protects against physical damage to the house structure itself against covered perils, including fire, storms, and natural disasters.
- Personal Property Coverage:
This coverage protects the personal belongings that you keep inside your house, including furniture, electronics, and clothing. Theft, vandalism, or natural disasters are covered under personal property coverage.
- Liability Protection: Liability coverage provides financial protection, like legal or medical expenses, should you or a family member be held responsible for injuries to others or their property within your premises.
- Additional Living Expenses (ALE): If your house becomes uninhabitable due to a covered disaster, like a fire or storm, ALE helps with the costs of temporary accommodation, like hotel bills or meals.
Remember to review your policy details to ensure your coverage suffices to meet your needs. Our Trailstone Insurance agents can offer your assistance in understanding what is and isn’t covered.
Types of Home Insurance Liability Coverage
As mentioned above, standard home insurance offers liability protection. These are the different types of liability coverage options:
- Personal Liability Coverage: This covers injuries or property damage caused by you, your family members, or even your pets on your property.
- Medical Payments Coverage: Medical payments coverage takes care of medical expenses for someone injured on your property regardless of who is at fault.
- Additional Coverages: Additional coverages may include identity theft protection, umbrella policies to increase liability limits, and coverage for specific valuable items such as jewelry or art pieces.
Endorsements You Can Add to Your Home Insurance Policy
Endorsements, also known as riders or add-ons, allow you to customize your homeowners insurance policy further to meet your needs and have peace of mind. Here are some common endorsements that many homeowners find useful:
- Flood Insurance: Standard home insurance policies do not cover flood damage. If you live in an area where floods are common, adding flood insurance will cover any losses that result from floods.
- Earthquake Coverage: This endorsement protects against earthquake damage, which isn’t covered by a standard policy.
- Valuable Articles/Floater: If you own expensive jewelry, fine art, antiques or any valuable possessions, we recommend getting this add-on as it offers broader coverage than the typical personal property coverage.
- Identity Theft Protection: If you’re a victim of identity theft, this endorsement covers the costs of recovering your identity, including legal fees and lost wages.
- Sewer Backup: This endorsement adds protection against losses from sewer or drain backup, which can cause significant damage to your home.
Want to learn more about endorsements and how they can provide the tailored protection you need? Speak with our Trailstone Insurance agent to learn more!
What Isn’t Covered by a Standard Home Insurance Policy?
Homeowners insurance provides protection for your home and belongings. However, not everything is covered under a standard policy. Here are some of the damages that a standard home insurance policy doesn’t cover.
- Flood Damage: Standard policies do not cover flood damage. If your area is known to get floods, consider purchasing separate flood insurance through the National Flood Insurance Program.
- Earthquake Damage: Earthquake damage is not covered by a standard policy. You may need to buy an earthquake insurance policy if you live in an area where earthquakes are frequent.
- Maintenance-related Issues: Homeowners insurance does not cover damages resulting from lack of maintenance or wear and tear over time.
- Business-related Losses: If you operate a home business, the business activities aren’t protected under a standard policy.
- High-value items: Homeowner’s insurance covers personal belongings, but it might be limited when it comes to high-value items like jewelry, artwork, or collectibles. You could purchase additional coverage for these items if you need it.
Knowing these limitations will help you ensure that your homeowners insurance coverage adequately protects your home and items. If you have any questions, our team at Trailstone Insurance Group is always here to help.
Who Needs Homeowners Insurance?
While homeowners insurance is not legally mandatory, it is necessary for you if you own a home. For one, most mortgage lenders require homeowners to have home insurance as a condition to get the loan. Additionally, whether you live in a small apartment or a spacious townhouse, your investment is worth protecting for your peace of mind. And if you rent out your property to tenants, you could always get landlord insurance to get liability protection.
So why wait for a disastrous event to strike your home? Contact Trailstone Insurance Group today and let our agents help you find the perfect coverage.
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How Much Does Home Insurance Cost?
As per a 2024 analysis by Bankrate, the average annual premium for homeowners insurance with $250,000 in dwelling coverage stands at $1,759. This is a notable increase of 23% from previous years, which means insurance costs are constantly going up.
The insurance premiums cost highly varies across states. For example, states like Nebraska, Oklahoma, and Kansas have the highest costs for home insurance. That’s because these states are more likely to get natural disasters, like tornadoes and hailstorms. On the other hand, Hawaii, Vermont and Delaware have the lowest average premiums because of their lower risk profile.
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Factors that Affect Home Insurance Premium
Many factors affect the cost of homeowners insurance premiums. You can control some of these factors to get a lower premium. Here are some of the key elements that affect home insurance costs:
- Location: Your home location comes into play when companies are determining your insurance premium. If you live in an area prone to natural disasters such as hurricanes, tornadoes, or wildfires, your rates will probably be higher.
- Type of Home: The type of house you live in also impacts the cost of insurance. For example, owning a single-family home will get you lower premiums than a condo or a rental property.
- Age and Condition of Home: Older homes usually have outdated plumbing or electrical systems which increase the risk of fire and water damage. That’s why older homes may have higher insurance premiums.
- Coverage Amount: The level of coverage you choose for your home and belongings will directly affect your premium. Higher coverage limits typically mean higher premiums.
- Credit Score: In some states, credit scores can also influence the cost of insurance. If your credit score is high, you might get a lower insurance premium.
- Claims History: Your past claims are also a factor; if you made multiple claims before, you might get a higher rate.
Learning about these factors will help you choose the best home insurance policy at a lower price. Work with our team at Trailstone Insurance Group to find the right coverage for your home.
How to Get Cheaper Homeowners Insurance Rates
There are ways to save money on your premiums. Here are some tips to help you get cheaper rates:
- Shop Around: Don’t settle for the first policy you come across. Shop around and compare different homeowners insurance quotes to find the best price.
- Review Insurance Coverage Options: Before settling on a homeowners insurance policy, review it well to ensure you don’t have unnecessary extra coverage.
- Bundle Policies: You could bundle your homeowner’s insurance with another policy, like home and auto insurance, to get a discount.
- Improve Home Security: Installing security features like smoke detectors, burglar alarms, and deadbolts can lower your insurance premiums.
- Increase Deductible: A higher deductible means a lower premium. Consider increasing your deductible if you have enough savings to cover it in case of a claim.
- Maintain Good Credit: As mentioned earlier, credit scores can impact insurance rates in some states. Make sure to maintain a good credit score to receive lower premiums.
These tips will help you get affordable homeowners insurance without compromising on your needs. Our team at Trailstone Insurance Group works with the best and cheapest homeowners insurance companies to get you great rates. Request an online quote and we will get you the right insurance coverage.
Home Insurance FAQs
No, most homeowners insurance policies do not cover mold damage. However, if the mold is a result of a covered peril, such as water damage from a burst pipe, then it may be included in your policy.
The best way to save on homeowners’ insurance is by shopping around and comparing quotes from different insurance companies. You could also bundle policies, maintain a good credit score, and increase your deductible.
Homeowners’ insurance covers the structure of your home known as property insurance, personal belongings, liability protection, additional living expenses if you are unable to live in your home due to a covered loss, and medical costs for others injured on your property. However, coverage may vary depending on the policy and insurer.
The home insurance deductible functions as your share in the financial responsibility of a covered loss. When a claim is made, the deductible amount is subtracted from the claim payment made by the insurance company. This means that if the cost to repair or replace damaged property exceeds the deductible, the insurance company pays the balance up to the policy’s limit. For instance, if your deductible is $1,000 and you have a covered loss totaling $4,000, you would pay the first $1,000 and the insurance company would pay the remaining $3,000. It’s crucial to choose a deductible amount that you’re comfortable paying in the event of a claim, as this can affect your premium costs and your financial readiness in case of an emergency.
It’s recommended to review your insurance policy annually or whenever there are significant changes to your home, such as renovations or additions. This allows you to ensure that your coverage is up-to-date and adequate for your needs. Additionally, reviewing your policy regularly can help you identify potential savings opportunities and make any necessary updates or adjustments.
To get homeowners’ insurance quotes, you can reach out to an insurance agent or broker, request a quote online from different homeowners insurance brokerages, or use comparison websites that provide multiple quotes from various insurers. Be sure to have all the required information about your home and coverage needs ready so that you can receive accurate quotes.
Most standard homeowners’ insurance policies provide coverage for damages caused by wildfires. However, it’s essential to review your policy and speak with your insurer to understand the specific coverage options available to you in case of a wildfire. Some areas may require additional coverage due to high-risk wildfire zones.
Our home insurance services extend to Utah, Arizona, Idaho, Colorado, Oregon, and Washington.