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Colorado Homeonwers Insurance Guide

What does homeowners insurance cover?

Upon purchasing a home, it is important to obtain a good homeowners insurance policy. There are so many different insurance policies available. It is a good start to understand what homeowners insurance covers. Most polices cover your home, its contents and liability protection but really, what does homeowners insurance cover? It is one thing to get a homeowners insurance quote, but knowing what it covers is just as important.

Basic Homeowners Insurance

A general homeowners insurance Colorado policy will cover your home for fire, severe weather like tornadoes, and smaller but strong storms that Colorado has. When it comes to disasters, having a good home insurance policy is essential. For example, many people in the mountains who experience forest fires are often times under insured. They cannot rebuild their homes which were destroyed by the mountain fires because their insurance policies did not cover the full extent of their losses.

In the Rocky Mountains of Colorado, some people have homes in canyons and valleys near creeks and rivers. With locations like these, flash flooding can happen. Flash floods can raise water levels extraordinarily high and commonly destroy homes and cabins. Many Colorado residents are familiar with the terms 100 year flood and 500 year flood. In many cases you should consider if your home is prone to flooding and get insurance to cover the risk.

 

Liability Insurance

It is a good idea to get insurance coverage that protects you against lawsuits from others getting hurt on your property. If you have dogs, it is good to make sure they are covered by liability insurance. It is good to be covered with insurance that protects you from lawsuits filed due to injury or damage.

 

Average Homeowners Insurance Cost

Once upon a time, a qualified Colorado insurance agent or Colorado insurance broker could give you a close ballpark figure for the cost house insurance based on basic information. In today's world, companies who offer house insurance in Colorado use very sophisticated pricing programs that make estimating Colorado homeowners rates only a guess without investigating the risk. In a state plagued with wild fires and wind and hail storms, companies have been struggling to come up with the right rate for proper coverage. Location of the home plays a major factor in pricing and even availability of coverage. In mountain locations, homeowners are going to find it more and difficult to find an insurance carrier who will event accept the risk. In most of the rest of Colorado companies are being hit with staggering losses from wind and hail. The beast advice is to insure with a financially solid company with a history of riding out the ups and downs of the insurance business. Save money on your house insurance rates and get a free online estimate.

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