Home Insurance in Virginia

Homeowner's insurance is a necessity for anyone buying a home. Most lenders consider it mandatory because it helps protect their investment. But more importantly, you want that peace of mind, too. Should something unthinkable happen, such as a house fire, accident, or theft, the right insurance policy can help protect the things you've worked to acquire. The Pivotal Insurance Agency LLC in Louisa, VA can help find the coverage that's right for you.

Named Perils vs. Open Perils

In Virginia, your home insurance policy will list either named perils or open perils. A named-perils policy provides coverage for all the situations that are named in the policy. These may include fire, hail, theft, vandalism, or windstorm. This type of policy covers only the mishaps that are specifically worded.

An open-perils policy does just the opposite. It covers only exclusions to the perils listed on the policy. This type of policy has wording that describes which situations it does not cover. Everything else is protected.

Both types of policies are available today. It's important to note that, in most situations, flood insurance is not part of your homeowner's insurance policy and must be purchased separately.

Other Coverages

Your homeowner's insurance may have a liability section, as well. If someone becomes injured on your property, your policy may help cover their medical expenses. It may also pay lawyer fees if you have to make a court appearance because of the accident. Liability insurance may cover you away from home, too. If you accidentally break a restaurant window, for instance, your homeowner's policy might help you make restitution.

Many Virginia home insurance policies will cover relocation costs if your home is damaged and requires you to move while repairs are being made. They may also include the costs of damages to outbuildings and fences. Contact The Pivotal Insurance Agency LLC in Louisa, VA for more information.