We’re going to take a step back today and dive into the absolute basics of Connecticut homeowners insurance.  I know most people know about it, but that’s probably because you own a home and have already gone through the process. But what about new home buyers who may not know everything there is to know about a policy?  They more than likely have been renting a home or apartment, and that insurance coverage is vastly different than a standard homeowners policy.

So today we’re talking to all the young up-and-comers who are in the process of buying a new home and looking to find out as much as possible about Connecticut homeowners insurance.  Here’s the basics that you should make yourself aware of:

  • coverage for the home itself- this includes covering anyone and anything in your home
  • the other structures not necessarily attached to the home but nonetheless a part of your property: this includes any garages, sheds, huts, cabins, barns, etc.
  • The coverage you’ll receive for your personal property is more than likely going to be around 50-75% of your limit.
  • Then there are the limitations: most coverages won’t pay for replacements of lost items of high value, such as jewelry, gems, furs, precious metals, fire arms, etc.  You can purchase an extra policy for these items which will then cover those high-value items.
  • The additional expenses of living somewhere else in the event of a loss.  So say for instance your home catches fire and damages a large section.  You can’t live there while it’s being fixed, so the cost of living somewhere else will be covered by your homeowners policy.
  • L:iability- Basically if anything happens to someone on your property, medical bills or legal expenses will be taken care of

Hopefully this breakdown gave you the right type of information that you need to purchase your first Connecticut homeowners insurance policy.  So give any one of us at Paradiso Insurance a call to set up a policy!And congrats on the new home!