Insurance

5 Factors To Consider for Buying Home Insurance in Massachusetts

Samara Davis
By Samara Davis
editor

December 6, 2020


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  • Your home is one of the precious possessions in your life, and you should do everything to protect it. The primary objective of buying home insurance is to protect you against loss or damage to your home. To get the protection cover, you need to pay a certain fee for home insurance in Massachusetts. 

    In exchange, the insurance company guarantees it will bear the uncertain loss that may occur in the future. This article discusses five factors to consider while buying home insurance.

    Costs of Rebuilding 

    According to leading statistics, Massachusetts’ population is around 6.7 million, which makes it the most populous state in the New England region of the northeastern US. If you are a homeowner in Massachusetts, you are going to need home insurance. It will give you protection if something terrible happens to your homes like a falling tree or fire. 

    When you buy home insurance, you need to consider the costs of rebuilding your house. It would help if you estimated the costs of rebuilding your home. The rebuilding estimate should include the costs of bricks, mortar, and other materials required to rebuild the house. 

    Content of Your Home 

    Every year Massachusetts is battered by floods, ice storms, blizzards, and storms that damaged homes. The state ranks 25th in natural disasters in the US. When a natural disaster hits your home, it damages everything from outside to inside. Hence, you need to prepare a list of contents in your home. 

    You can prepare an inventory for every room to find out how much home insurance is required. Make an exact estimate of your belongings so that you get an adequate amount to rebuild your home and life after a natural disaster. Overestimating will increase the premium.

    Accidental Damage

    Northeastern Massachusetts frequently experiences small earthquakes. The 1755 Cape Ann earthquake was the most massive earthquake in Massachusetts that recorded 6.0 and 6.3 on the Richter scale. Most home insurance covers you against natural disasters, but that is not enough.

    You need to also ensure the policy has accidental damage protection. For example, suppose someone crashed their truck into your home or garage, the insurance policy should give you cover against such accidental damages. If your drainage pipes are damaged in an accident, the home insurance policy needs to cover this. 

    General policies for home insurance in Massachusetts do offer basic protection against accidental damage. But it would help if you looked for extended protection against accidental protection by paying extra.

    Valuable Items

    Heavy rains, storms, and flooding are common natural disasters in Massachusetts. According to a news report, on July 14, 2018, some Massachusetts areas recorded 4.52 inches of rain in 24 hours. The heavy rains can result in localized flooding leaving several homes damaged. 

    If you own expensive items like jewelry, cameras, sports equipment, watches, make sure the home insurance cover is large enough to cover all of them. While taking home insurance, you need to list every item individually and their value. 

    While taking a home insurance policy, make sure the single-piece limit covers the most expensive jewelry you own. Also, make sure your musical instruments are covered under the insurance policy.

    Away From Home Cover 

    Natural disasters can happen anytime. There is a possibility the flooding occurs when you are not at home. According to a weather agency report, the National Weather Service recorded 79 incidents of flooding across different parts of Massachusetts in July 2018. 

    Away from home cover can be useful when you take personal belongings out of the home. It is usually categorized as an add-on-content policy which protects your belongings like laptop, jewelry, watches when you are out. 

    To sum up, global warming has increased the frequency of natural disasters. It only makes sense to protect your home against uncertain events that can destroy your home and disrupt your life.

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