Best Homeowners Insurance Agencies in Saint Joseph

Frequently Asked Questions

• Introduction

  Homeowners' insurance is a type of property insurance used by private property owners to protect their home and property from a range of risks and liabilities. It is also called home insurance.
  

  
  

  All homeowners' insurance policies cover the primary home on a property, meaning that most damage from weather, accidents, vandalism, and other events will be at least partially paid for by the insurance company. Many policies also include coverage for other structures, personal property, and some premises liability.

  
  

  It is not required by law that a homeowner purchases insurance for their property. However, if you have a mortgage, the lender will usually make purchasing a homeowners' policy a mandatory part of the loan process. Since the mortgage lender is essentially selling you the home, they require you to protect the investment.
  

• Can homeowner's insurance cover additional living expenses if there is a power outage in Saint Joseph during a winter storm?

  It depends. If you live elsewhere because your home suffered a winter storm-induced power outage but no physical damage, your insurer may refuse to pay for the additional living expenses. The coverage will only kick in if your home sustains physical damage as a result of the storm while Saint Joseph is without power.

• How should you determine the coverage on your homeowners' insurance in Saint Joseph?

  Always consider how much your annual budget can afford when purchasing homeowners' insurance. Your annual premiums will be determined by the coverage you select, but choose the best coverage possible to avoid financial ruin if disaster strikes and your home is completely destroyed. Keep in mind that if you have a mortgaged home in Saint Joseph, your lender will determine the appropriate coverage for the loan amount.

• What are some of the property hazards that homeowners in Saint Joseph face?

  Natural disasters that frequently strike Saint Joseph include severe storms and lightning strikes. Flooding is also a threat to homeowners, particularly in areas near the Missouri River and Contrary Creek. Tornadoes rip through the state on a sporadic basis, with an average of 30 occurring each year. Although the metro's property crime rate is lower than the national average, homeowners may suffer losses as a result of such threats.

• Are your Saint Joseph household members covered by your homeowners' insurance for personal liability?

  Yes, the personal liability coverage on your Saint Joseph homeowners' insurance extends to the members of your household. Such coverage provides financial protection in the event that any of your family members is sued for property damage or bodily injury. Keep in mind that intentional acts will not be covered.

• What should you do if your homeowners' insurance in Saint Joseph is not renewed?

  Apply quickly to multiple insurance providers so that you have sufficient time to select the optimal policy. In Missouri, the insurance market is competitive, so you may have several options. However, you can save time by asking the insurer if it accepts policyholders with recent claims, as the majority of insurers will reject such applicants. Attempt to obtain basic coverage from the Missouri Property Insurance Placement Facility (FAIRPLAN) if you continue to have insurability issues in Saint Joseph. You can also get homeowner's insurance on the surplus lines market, but it may cost more.

• What determines the price of homeowners insurance premium?

  The premium, or monthly cost, of your homeowners' insurance policy depends on several factors, including the value of your home and amount of coverage you choose. Your credit history and whether the property is in a higher risk area also play a role.