Ways to Protect your Home Amidst Coronavirus

Every investor wants to secure their financial investment. For homeowners, they want to protect their real estate property. One way to protect your home is by buying homeowners insurance.
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Homeowners insurance covers damages to your home and your belongings. It serves as protection from financial liability if someone is injured on your property.

Impact of Coronavirus on Homeowners Insurance
Staying at home means many employees are working from home. The kids are also engaged in online learning. Because of that, your policy may require more liability coverage in your policy.

Insurance companies are seeing a shift in the kinds of claims being filed. One example is water damage, which had increased during the lockdown. COVID-19 also impacted new homebuyers. Many homebuyers have delayed or stopped their search for a home. The reason is likely due to financial insecurity caused by the pandemic. 

Protecting Your Home
Because many are on stay-at-home status while pandemic, consider these ways to protect your homeowners' insurance further:

1. Review your existing coverage and limits. Ensure your policy shoulders the expense of repairing or rebuilding your home. It should also replace your property while retaining its value. It should also protect your assets from liability claims.
   
   
2. Reconsider your provider. Ask your insurance company to learn about what reliefs they are offering. If your current policy does not provide any form of assistance, such as rebates or discounts during COVID-19, try looking for other insurance companies that provide such assistance. 
   
   Ask your insurance provider if they cover Covid-19 sanitation. Most providers cover direct property damage. This may cover the loss of your home's habitability, which you may need if someone in your home is infected with Covid-19.
   
   
3. Suppose you are paying for a home-sharing coverage that you are currently not using due to the Covid-19 pandemic, considering pausing this coverage for now. It can help you save money while your extra space is not being occupied.

Conclusion
Many people are locked down at home because of the pandemic. Because of that, it is necessary to revisit your existing policy. It would be best if you were getting the most out of it. Your home insurance should be tailored to your home needs.

At Insurance Agency Network, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (425) 681-0996 or Click Here to request a free quote.