Best Homeowners Insurance Agencies in Chesapeake

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.
  

• Do you need to inform your Chesapeake homeowners insurance carrier about your upcoming house improvements?

  You must inform your homeowners insurance provider in Chesapeake of your intended house improvements. It may be necessary to amend your insurance policy to include additional or different forms of coverage, depending on the extent and type of the renovations. In rare circumstances, the insurer could even include an additional policy to cover your home's renovation costs in the event of an accident or damage.

• Can a homeowners insurance provider in Chesapeake pause some transactions temporarily?

  For some business lines, a Chesapeake homeowners insurance provider may momentarily prohibit some transactions, which is known as a moratorium. In the days preceding a natural calamity, an insurance provider would typically impose a moratorium since they know that emergency declarations could prompt sudden insurance scrambling among those without insurance or with inadequate coverage limits.

• Does the cost of your Chesapeake homeowners insurance depend on your house's location?

  Your place of residence in Chesapeake is one of the variables that affect the price of your homeowners insurance. For example, you often require additional coverage if you live in an earthquake or hurricane-prone area. Your home's exact location is important in addition to your region. Living in an area with a high burglary rate and being adjacent to a fire or police station are both contributing factors.

• What circumstances are not covered by your Chesapeake homeowners insurance's personal liability policy?

  The personal liability insurance portion of your homeowners insurance in Chesapeake does not apply in the following circumstances:

  • Damages you or your family members incur while inside your house.
  • Intentional bodily harm or property damage committed in your house by yourself or an immediate family member.
  • Business ventures or legal actions involving your line of work.
  • Liability brought on by a car collision.

• Do you need to include vandalism coverage in your Chesapeake house insurance policy?

  It is not required to add vandalism coverage to your Chesapeake house insurance policy. A typical home insurance policy from your insurance provider covers vandalism, including damage to your house, property, and personal items. Vandalism frequently takes the form of graffiti on walls or doorways, window smashing, landscaping ruin, sign removal, and arson.

• 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.