The American dream is alive and well in Rhode Island. Home sales are soaring, and when you buy a new home, it is time to think about protecting your investment. Home insurance is something you will need if you have a mortgage. It protects not only the lender's investment in your physical building but lots of other things as well. Lennon Insurance Agency LLC offers Rhode Island residents a locally owned and operated agency that they can count on. We build long term relationships with our clients, and we look forward to serving generations of your family.
When you choose your home insurance, it will cover your home itself, any attached or detached buildings or structures, the contents of your buildings, liability, and loss of use. All of these are part of a standard home policy and offer the types of protection you need. Home insurance has a deductible, and you can discuss what level works best for you.
When it comes to your home structure, make sure the coverage you have is enough to pay for your home to be rebuilt if it suffers from a covered hazard. The amount of your mortgage is not a good determinant of what it would take to rebuild. You may have done extensive upgrades and renovations which add value.
When it comes to the contents, you need to decide how you want your content replaced at actual cash value or replacement cost. A 5-year-old laptop has a lower cash value than its new replacement. Chances are you will want to buy a new one. You may pay more in premiums, but you will be able to replace your content.
Liability is an important coverage and ensuring that you have enough is something to discuss at length with your insurance agent. You also want to make sure you have an adequate loss of use coverage. It will help pay immediately for a hotel and then a rental until your home is ready to be occupied again.
Lennon Insurance Agency LLC in Rhode Island offers all the services you could want from a full-service insurance agency. Give our office a call for an appointment to get to know us and what we can do for you.