Best Homeowners Insurance Agencies in Reno

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.
  

• In Reno, what is covered by dwelling insurance coverage?

  Dwelling insurance in Reno covers any damage to a home's structure and built-in features, such as front porches, chimneys, garage spaces, and built-in appliances. These damages may result from theft, vandalism, lightning, hail, fire, smoke, the heavy weight of ice or snow, and accidental discharge or overflow of water from HVAC or plumbing systems.

• What is included in Reno's coverage for loss of use or additional living expenses?

  Loss of use or additional living expenses coverage in Reno covers policyholders' parking, public transportation, and moving fees. This coverage also pays for temporary housing, additional utilities and fuel costs, storage units, pet boarding, and food expenses. Policyholders must keep their receipts and submit copies of them when pursuing reimbursements.

• What is the average cost of homeowners' insurance in Reno?

  In Reno, the average cost of homeowners' insurance is $1,371 per year. This cost applies to the coverage level of $300,000 for the dwelling, $1,000 for deductibles, and $100,000 for liability protection. However, the rates still depend on a home's size, location, age, and the policyholder's credit score.

• Are damages caused by floods covered by Reno homeowners' insurance?

  No. Damages caused by floods in Reno are not covered by homeowners' insurance. The reason for this is the area has a moderate risk of flooding. However, families and individuals may still acquire separate flood insurance policies through the National Flood Insurance Program. They can get up to $100,000 in content coverage for their homes and $250,000 in structural coverage.

• What types of properties in Reno are protected by homeowners' insurance?

  In Reno, homeowners' insurance protects seasonal resident homes, frame houses, manufactured and mobile homes, townhouses, condominiums, and secondary and rental homes. Individuals and families living in these types of properties can acquire replacement costs for personal property, as well as trampoline or swimming pool, dog, and umbrella liability insurance coverage.

• 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.