No doubt about it, buying a home can be both a very stressful and exciting time. There are many things that you will need to figure out, insurance being one of them. We are here to ease your worries at Lake Central Insurance Brokers. We service any resident living in or near Brainerd, MN, and throughout the state. We can work to make sure that you get the correct home insurance policy to keep you and your family protected.
While home insurance may not be required in Minnesota, it is an excellent protection to have. Sometimes you may come across mortgage lenders that require you to obtain a home insurance policy. To get approved for your mortgage, you must purchase insurance in that instance. Otherwise, home insurance is typically optional.
The best way to choose the right coverage for your home is by assessing your risk and determining your liability coverage. For example, if you feel that your home is at a much higher risk from tornado or earthquake damage, you may want to consider getting more coverage.
You may want to consider any of the following:
- Dwelling – protects the structure of your home
- Contents – covers personal property that is not exactly attached to your home
- Personal liability – coverage if an accident were to occur in your home
- Ordinance or law insurance – helps to rebuild your home after a loss
- Loss of use – helps to pay for additional living expenses
- Other structures – covers sheds, barns, etc. not attached to your home
- Medical payments to others – helps to pay for medical or funeral expenses for someone injured in your home