Home Owners Insurance

In general, one of the biggest investments one has in a lifetime is the investment in a home.  Whether you have a mortgage on a home or you have paid it off, homeowners insurance protects you against the damage or even the complete loss of your home.

It is required to have homeowner’s insurance if you have a mortgage on a home.  This protects the lender from loss until the home is paid for in full.  Even after the home is fully paid off, it is a good idea to continue the insurance policy to protect you from the risk of loss or damage to the home.

Here are some things to keep in mind when purchasing homeowner’s insurance:
  1. Get replacement-cost-coverage. When putting your homeowner’s insurance in place, make sure that your policy has replacement-cost-coverage.  This type of coverage replaces lost items at the current cost; otherwise, without it, you will not get the full amount of what it will cost to replace the item.
  2. Add coverage for unique items.  There may be a limit on how much a homeowner’s policy will pay for certain valuable items such as collections, furs, office equipment, tools, jewelry, etc.  Check with your insurance agent to verify that any heirlooms or precious valuables can be covered as well.
  3. Increase deductibles in order to keep premiums lower.  Set aside the amount for the deductible in case you ever need to use it.
  4. Add coverage for disasters.  Consider adding extra coverage for disasters that are not covered by standard policies, such as for earthquake or flood insurance.  These two items are not covered in a basic policy.  And increasing your deductible is a good way to keep premiums low.
  5. Make a home inventory.  It is a good idea to document the items in your home for the purpose of proving ownership for insurance purposes.  To do this, simply walk through your home with a video camera taking inventory of each room, or take regular photos of each area inside and out of your home.  Be sure to document in writing major purchases, their model numbers and how much you paid for them.  Then keep these photos and documentation at another location other than your home, so that you have access to it if you lose your home through flooding, fire or other peril.


Having homeowners insurance is one of the most important decisions of insurance you will make.  Click above for an instant home owners insurance quote or talk to a staff member today. Call our office in Sandy, Utah – (801) 501-7599

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