Does home insurance cover for accidental damage?

Investing in a home takes time and resources. In some instances, owning a home is a lifetime investment that you have to pay for all your life. It is, therefore, crucial to protect your home from any form of damage or loss. In instances where it may be impossible to protect your home, a home insurance policy comes in handy. Please speak to our THINK Insurance & Financial Services agents in Pomona, CA, who will advise you on a home insurance policy suitable for you.

What is a home insurance policy?

This is a policy that protects you against financial liability arising from property damage, injuries, or legal responsibilities. Damages could occur out of natural disasters though there are a few exceptions to these instances and, therefore very crucial for you to go through all the details of your policy document with THINK Insurance & Financial Services agents. This policy covers damages caused by pets.

A standard home insurance policy offers the following coverages

  • Damage to home structure

A home insurance policy will cover costs required to repair your home or entirely rebuild it if it is destroyed by fire, hurricanes, or any other disaster listed on the policy. This policy does not cover damages arising from floods, earthquakes, or wear and tear.

  • Damage of personal belongings

Such items as furniture, sports equipment, clothes, and other personal items are likely to be destroyed by fire or hurricanes. While the home insurance policy does not fully cover these items, you can purchase special personal property endorsements to cover them entirely.

  • Liability protection

This covers lawsuits as a result of bodily damage caused by others or property damage. This also caters to accidental damage caused by pets.

  • Additional living expenses liability

In case your home is rendered inhabitable, the home insurance policy covers costs to get an alternative living space.

Kindly visit our website for more information, or call our THINK Insurance & Financial Services agents in Pomona, CA, for more personalized service.

Do I need home insurance in Pomona?

Pomona, CA is a very popular place for people to want to move to and visit. Due to this, there continues to be a lot of housing demand, which can make it a great place to own a home. If you are going to purchase a property here, you will want to secure and protect it as well as you can. A great way to do this is with a home insurance policy. There are several reasons why you need to get this insurance coverage for your home.

Gives Necessary Protections

A primary reason that you will need to get a home insurance policy is that it gives you necessary protections that are not provided by other forms of insurance. Your property is likely one of the largest assets you will ever own. When you get insurance, you are going to have the protection you need to repair or rebuild your home. Additionally, your policy will give you coverage for personal liability and protect your personal assets. 

Meet Requirements

You should also get this insurance to meet the requirements that are set forth by a lender or association. Most people will have insurance obligations that need to be met. If you have a mortgage, you need to comply with the obligations in your loan agreement. Those that live in a home association will need to understand and meet their association insurance rules. 

The Pomona, CA area continues to be a great place for anyone to purchase a home. To ensure your home is protected as well as possible, you should discuss your insurance needs with THINK Insurance & Financial Services. The insurance team at THINK Insurance & Financial Services can help you to choose a policy that will give the right insurance protection for your situation. 

How Getting Home Insurance in California will Benefit You

Living in the Pomona, CA area can be a great experience. The area also has a good real estate market, which makes it a good option for home buyers. If you are looking to buy a home in this area, you should get home insurance on your property as it will benefit you in several ways.

Gives Necessary and Valuable Coverage

Your home is an enormous asset and investment. The best way that you can protect it is by getting a home insurance policy. When you get home insurance, it will not only protect your home and personal belongings from a variety of risks, but you will also receive great personal liability insurance coverage. 

Ensures You are Compliant with All Agreements

Another reason why you should make sure that you get home insurance for your Pomona, CA area home is that it will ensure that you are in compliance with all agreements. Most people in this area have a mortgage that was used to purchase the property. If this is the case for you, the lender will undoubtedly require that you have home insurance at all times. Additionally, if you live in any type of home association, the related association documents will likely require that you carry home insurance. If you do not carry insurance, you could face penalization from both your lender and the home association.

Since there are many benefits to having home insurance, you should contact THINK Insurance & Financial Services whenever you are looking to buy a property or want to evaluate your home insurance needs and options. The team at THINK Insurance & Financial Services can help you to figure out what type of home insurance is right for you, which will allow you to get into a great policy. 

Is Homeowners’ Insurance Required By Law in California?

Unlike driving a motor vehicle, when you own a home in Pomona, CA you aren’t legally required to purchase homeowners insurance. However, if you purchased your home through a mortgage, your lending bank will probably require you to carry homeowners insurance. This is because they need to protect their investment in the event that your home is damaged by a storm, tornado, fire, or another incident. Additionally, if your home is located in an area with a history of flooding or earthquakes, your lender will also require additional coverage. This is generally true whether you own a single-family residence, co-op, or condominium. 

What if My Mortgage Is Paid Off? 

Once you’ve paid off your mortgage, nobody can force you to purchase homeowners insurance. However, it’s not wise to cancel your ThINK Insurance & Financial Services homeowners policy and possibly risk losing your investment, your belongings, or having a place to live in the event that your home suffers massive damage due to unforeseen disasters.  

Here are some examples of why it’s smart to keep your home covered even if your mortgage is paid off: 

What if your home and belongings are ravaged by a wildfire? What if your neighbor’s tree falls down and knocks your roof in? What if someone crashed their vehicle into your living room? What if someone was walking on your sidewalk, slipped and fell, and ended up with severe injuries? Without homeowners insurance coverage you will be left to deal with the fallout of loss to your home and possessions or facing an expensive lawsuit for a personal injury claim. Having homeowners insurance will give you the peace of mind knowing that you’re protecting your home, your investment, and your assets in the event of damage or injury claim. 

If you have questions when shopping for homeowners insurance for your Pomona, CA home, we’ve got answers. Give THINK Insurance & Financial Services a call today for more information. 

Will Your Home Insurance Cover Damage Caused By a Contractor?

Are you planning a large home improvement project, or does your home need substantial repair? Whatever the reason, having a contractor in your home for a substantial period of time can open you up to liability for which you may not have coverage. Before you begin a large project, it is advisable to meet with your agent at THINK Insurance & Financial Services in Pomona, CA. We can provide the guidance necessary for you to have all of your policies up to date and in place before your project begins. 

Protect Yourself from Damage and Liability Before You Begin Any Major Home Project

Your home insurance policy likely provides some level of protection for both damage and liability for contractors and other third party vendors and service providers in your home. However, with a substantial project, your coverage levels may not be adequate. In addition to upping your own coverage, it may also make sense to have your contractor add you to their policy as a named insured. This can typically be accomplished with a small amount of paperwork and will be more than worth it should any accident or mishap occur on your property during your home improvement project.  Protect yourself and your family from liability in the event that your contractor is injured or causing damage to your home.

Do you want to make sure that you have adequate coverage in place before you begin a major renovation project? The agents at THINK Insurance & Financial Services are here to provide the necessary review of your current policy and recommend any additional coverage for your home project in the greater Pomona, CA area. Call or stop by today and we will make sure that your coverage levels are appropriate before you begin that major project.

Is Homeowners Insurance Required?

When you own and operate an automobile, in Pomona, CA as well as throughout the United States, insurance is mandatory, so is the same true when you own a home? The short answer: no. 

Legally speaking, homeowners insurance is not required, however in many cases, the lender (most likely the bank from which you are getting the mortgage to purchase your new home) will require a policy to cover unforeseen situations (fire, theft, natural disaster). Be sure to speak to an agent at THINK Insurance & Financial Services, serving the needs of Pomona, CA to discuss the requirements of individual lenders.

For areas that are susceptible to specific problems, such as earthquakes or floods, it will most likely be mandatory that an additional policy is procured that deals with that specific issue (earthquake insurance and flood insurance coverage is separate from homeowners insurance).

When your home has been paid off, and a lender is no longer necessary, insurance is not a requirement by law. Talk to an agent at THINK Insurance & Financial Services to find out more about the importance of maintaining your home insurance policy, however, after your house has been paid off. After all, you will want to protect your investment!

If you have chosen to buy a condominium or co-op, you must follow the Home Owner’s Association (HOA) or the board’s rules. The chances are that they will insist that those purchasing in the community acquire homeowners (or condo) insurance. It is vital then, as the buyer of a condo or co-op, that you find out from the board exactly what kind of coverage is required.

In the case of a townhouse, the association may or may not have a master policy- covering the structure and the common areas- if they do, you will need to additionally purchase renters insurance. If they do not, then you will get homeowners insurance.

 

How Often Should You Update Your Home Insurance Policy?

Updating your home insurance policy should be second nature to most people, but unfortunately, the reality is much different than what should be. If you haven’t looked at your policy for a while, perhaps it’s time to dust it off to find out if there are some holes in your coverage. 

When You Care  

THINK Insurance & Financial Services has seen too many people in Pomona, CA do everything they can to improve their homes without taking the time to insure it all. When you care about your home, you make the updates and additions to increase its value. Anytime you do this is the time to pull out your home insurance policy. It could be a simple as changing your lighting to recessed in your kitchen and living room. These changes may not mean that you have to update your policy, but based on the terms and conditions, you may not get financial help on any damage that happens to the new parts of your house if your insurance carrier wasn’t notified. 

THINK Insurance & Financial Services

If you haven’t done anything major to your house, you should probably consider looking at your policy every year or so. Our agency is here to walk you through anything that may have happened that would require you to update your policy. For example, you may have made a few smaller purchases (e.g., several pieces of jewelry) that move you out of the limits for your coverage. Whether you need to make changes or not, we’re here to prompt you to remember it all so that you have everything covered in the event of a severe storm or criminal break-in. Call us for more information and a quote if you live in Pomona, CA.  

Why House Maintenance Matters

We often move into a house thinking it will be our “forever home”, but plans change all the time.  Sometimes people think they will enjoy life in a suburb, like Pomona, CA only to find out they want to be closer to Los Angeles.  Whatever the reason, THINK Insurance & Financial Services knows that house maintenance is something that should not be overlooked.  Taking the time to fix things before you place your house on the market will save you money in the long run.  

The Cost of a House in Pomona

It has been said that the median price of a house listed for sale in Pomona, CA is $379,894 and the value of houses is predicted to increase 1.4% over the next year.  What we get on a house when it is listed depends heavily on the condition of the house.  

What to Fix Before Moving

         Flooring

  • Floors:  If you have hardwood floors keep it.  If they aren’t new you might get more if you get the floors refinished. 
  • Carpet:  If you have carpeting the bedroom or other areas of the house make sure it is clean.  Tan or neutral carpets work best when selling a house.

        Paint Ceiling and Walls 

  • Wallpaper:  That wallpaper that you loved is not something that buyers will like.  Paying to take it down could be the difference between your house selling or not.
  • Painting:  Paint wood paneling.  Get rid of “popcorn ceilings” to make it sale better.

Kitchen

       Kitchen remodels might be the most expensive thing when listing a house and resurfacing cabinets and countertops may be the cheaper option. 

THINK Insurance& Financial Services wants you to get the best value for the house, so taking time to get these repairs done will save you when you if and when you decide to move. 

 

Three Ways to Maintain Your Home This Fall

Fall is a great time to do projects around your home and getting it looking great. It isn’t too hot like in summer and it isn’t yet cold like in winter. However, while many of these projects are optional, there are a few things that you should be doing to maintain your home in fall time. These tips can help prevent larger problems that can happen during the wet, icy and windy winter months. Here are a few of those things.

Trim Your Trees

One of the best things to do in the fall months is to trim back your trees. Dead limbs can fall when it is windy out, which can cause damage to your home, cars, or even people. Trimming your trees can help you prevent having to file a homeowner’s insurance claim for damage.

Maintain Your Sidewalks and Walkways

Concrete sidewalks and walkways can develop cracks in them. During the fall and winter months, it is darker outside earlier and it can be harder to see these cracks, which can be a tripping hazard. Fall is a great time to fill them in, or even find a way to light the area well.

Have Your Roof Repaired

If your roof has missing shingles, cracked tiles or is otherwise damaged, you want to have it repaired in the fall. Rain can seep in and cause more damaged, which can lead to you having to file a homeowner’s insurance claim. Having the roof inspected and repaired helps prevent this.

Are you looking to buy a new homeowner’s insurance policy? Or do you simply want to find out what may or may not be covered with your existing one? Then contact THINK Insurance & Financial Services, serving the Pomona, CA area. Let us help you with your homeowner’s insurance needs today!

 

Does Home Insurance Cover Natural Disasters?

Residents of Pomona, CA know that Californians are at risk for natural disasters. Catastrophes such as wildfires and earthquakes are not uncommon to California. Furthermore, the east coast was recently ravaged by Hurricane Matthew. While California does not get struck by hurricanes very often, California is on the coast and can suffer a hurricane strike at any time. When it comes to home insurance, owners need to know what disasters are covered by the policy and what catastrophes require an additional rider.

First, in the wake of Hurricane Matthew, it is important to address floods. Flood insurance does not come standard with most insurance policies. Flood insurance is typically a separate rider that people need to add to their policy. While this comes with a slightly increased cost, Californians do live on the Pacific coast and should be prepared for a hurricane strike. Make sure that the policy covers flood damage.

Next, earthquake insurance is important for people living on the San Andreas Fault. Earthquake coverage is also a separate policy, typically referred to as earth movement insurance. This will include disasters such as mudslides and avalanches along with earthquakes. This should not be neglected in California. Purchase earth movement insurance.

Finally, there are some policies that will cover wildfire damage. With the dry heat in California, wildfires are a common occurrence. While many policies will cover fire damage, it is essential that residents purchase coverage to cover living expenses. Wildfires frequently cause so much damage that the home cannot be lived in. People are forced into hotels and apartments which can be expensive. Home insurance policies will cover these living expenses if the owner purchases the coverage. 

Pomona, CA is averse to natural disasters. Wildfires and earthquakes are common along the San Andreas Fault. Make sure that everyone knows that catastrophic coverage is included in a home insurance policy. Some riders are required to cover specific natural disasters. Contact the friendly agents at THINK Insurance & Financial Services today for more information.