Best Homeowners Insurance Agencies in Sparks

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.
  

• If your friend's laptop was stolen inside your home, will your homeowners insurance in Sparks cover this loss?

  Yes, because Sparks homeowners insurance protects the loss of other people's personal goods while they are residing in your house. Making a claim for the missing laptop, however, might not be in your best interests because it would impact your insurance record and possibly increase your premium rates. Only if replacing your friend's laptop would be too expensive should you file an insurance claim for it.

• What is the typical annual homeowners insurance premium in Sparks for a $200,000 home?

  In Sparks, the average price for homeowners insurance is $1,005 per year for $100,000 in liability protection and $200,000 in dwelling coverage. The age and size of your home, the neighborhood where you live, the type and quantity of coverage you require, as well as your credit history and score, all affect how much you pay for home insurance in Sparks.

• How can you obtain a copy of your Sparks homeowners insurance policy?

  By contacting your homeowners insurance provider, you can obtain a copy of your policy in Sparks. They should be able to provide you a copy either by mail or email. Additionally, if your insurer has a mobile app or website, you can view your homeowners insurance policy there. Downloading and printing a physical copy of your policy paperwork will make it easier for you to access them should you ever need to make a claim.

• How long do homeowners insurance companies in Sparks retain your claims on record?

  Home insurance providers in Sparks typically maintain records of your claims for five to seven years. Insurers will review your claims history going back at least five years if you are looking for a new insurance policy. They typically don't go further than five years in the past. Claims on your record may result in higher house insurance rates, which translates into higher premiums.

• Can Sparks insurance providers deny coverage for a house in a high-risk neighborhood?

  In Sparks, house insurance providers have the option of refusing to insure a house in a high-risk neighborhood. Finding affordable homeowners insurance may also be challenging if your house is old or you reside in a disaster-prone area. Homeowners who are unable to obtain private insurance coverage must look for coverage with surplus lines insurers because Nevada does not have a Fair Access to Insurance Requirements Plan.

• 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.