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tel Call : 435.901.8333

3 Things You Need To Know About Homeowners Insurance

September 17, 2018 by Jensen and Company


Buying a home is one of the biggest investments you can make. Given this, homeowners insurance exists to provide you peace of mind as well as protection.

Most mortgages require that you purchase homeowners insurance. You aren’t required, however, to familiarize yourself with the details of the policy. You should make the effort to do so anyway. Reading those documents and talking to your insurance agent as questions arise can ensure you’ve got coverage that’s as comprehensive as possible.

There are three things to keep in mind with regards to homeowners insurance.

1. Your ‘High-Risk’ Dog May Impact Your Homeowners Insurance

A few companies won’t sell you coverage for injuries caused by your pet if you report owning a “high-risk” dog. Others will cover you but charge more money. Your homeowner’s insurance may be more expensive if you have a pet that’s one of the following breeds:

  • Akita
  • Boxer
  • Chow Chow
  • Doberman
  • German Shepherd
  • Great Dane
  • Husky
  • Pitbull
  • Rottweiler
  • Wolf hybrid

Some companies make coverage choices after looking at information about your particular dog’s behavior. You’re more likely to get coverage and get it for cheaper if you can demonstrate that your dog is well-trained. One way you can do this is by providing a document like a Canine Good Citizen certificate from the American Kennel Club.

2. Learn What Your Homeowners Policy Doesn’t Cover

You should find out what isn’t covered by your homeowners policy as well as what is covered. This can determine whether you should purchase supplemental insurance.

Standard homeowners policies don’t cover:

  • Burst water pipes. Your claim may be denied if it’s determined that you failed to properly maintain your pipes.
    Earthquakes
  • Flooding. You may want to look into supplemental insurance through a source like the Federal National Flood Insurance Program.
  • Mental and emotional support. A catastrophe can cause stress and even spur post-traumatic stress syndrome. You may find it helpful to see a therapist. Just keep in mind that your homeowners insurance won’t foot the bill.
  • Mold. Mold is covered by some homeowners policies, but your claim may be rejected if its growth is determined to be caused by negligence.
  • Sinkholes
  • Sewer backups
  • Termite damage. A pest control company can work with you to make sure these insects haven’t invaded your home and rid you of infestation if they have.
  • Trampoline injuries

3. Make Sure Your Replacement Cost Is Accurate

Many figures must be determined when you’re buying homeowners insurance. One of the most important is replacement cost, an estimate of how much money it would cost to rebuild your home if it were totally destroyed.

Replacement cost is not synonymous with the market value of your home. There are hidden costs of construction you may not have considered.

For instance, your ruined house needs site-preparation before it’s rebuilt. This includes tearing down the demolished structure and cleaning up any debris. You should also take into account appliances you may need to replace, including major ones like your furnace, air conditioning and water heater.

There are a number of things that can cause construction costs to rise precipitously, including:

  • The cost of building materials, which can spike swiftly. You’ll want to make sure your policy is updated regularly to reflect inflation.
  • Your house’s custom or outdated needs. Some homes, particularly older ones, have custom features that are expensive or hard to find.
  • Construction prices, which can grow for many reasons. If a large-scale catastrophe leaves many people in your region needing home repairs, the price of construction may rise to reflect increased demand.

A Reputable Realtor Can Refer You To A Good Insurance Agent

At Jensen and Company, we can refer you to an insurance agent who has covered similar properties in the Park City area. A skilled insurance agent can work with you to make sure your home is fully protected and that your homeowner’s insurance policy is up-to-date. Contact us if you have any questions about the process of finding a new home in Park City, Ut.

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tel Call : 435.901.8333

About Jensen and Company

Brad Jensen has been a top realtor since 1988. In 2021, he was invited to join the prestigious International Luxury Alliance. The Alliance is an elite network of real estate professionals from key markets in the U.S. and abroad. Creating unique opportunities for his clientele to acquire some of the most sought-after real estate in the world. He is one of the most respected agents in Utah and would be happy to assist you in selling your home or buying a new home. It is Jensen and Company's goal to help make your real estate transaction as easy and stress-free as possible. Our blog has lots of great information and market intelligence to help you learn more about the Park City real estate market. Please contact us if you have any questions. We would be happy to assist you.

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ftel Call : 435.901.8333

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  • About
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    • Contact Us
    • Blog
  • Search
    ▼
    • Significant Sales
      ▼
      • Luxury Mountain Living
    • Featured Properties
    • Property Search
    • Most Recent Properties
  • Park City
    ▼
    • Buy in Park City, Utah
    • Sell in Park City, Utah
    • Park City Homes & Condos For Sale
    • Park City Real Estate
  • Deer Valley
    ▼
    • All Deer Valley Real Estate
    • Deer Valley Homes & Condos For Sale
  • Communities
    ▼
    • Old Town
    • Thaynes Canyon
    • Lower Deer Valley
    • Deer Crest
    • Upper Deer Valley
    • Empire Pass
    • Aerie
    • Prospector
    • Park Meadows
    • Canyons Village & Colony
    • Sun Peak | Bear Hollow
    • Silver Springs
    • Old Ranch Road
    • Kimball Junction
    • Pinebrook
    • Summit Park
    • Jeremy Ranch
    • Glenwild | Silver Creek
    • Trailside Park
    • Promontory Area
    • Jordanelle Area
    • Midway | Charleston
    • Heber City
    • Kamas & Marion
    • Huntsville – SnowBasin
    • Red Ledges
  • Buy
    ▼
    • Deer Valley Real Estate
    • Park City Homes & Condos For Sale
    • Park City Real Estate
    • Deer Valley Homes & Condos For Sale
  • Sell
    ▼
    • Why Sell With Us
  • Discover
    ▼
    • Park City Events Calendar
    • Featured Attractions
    • Local Ski Resorts
    • Park City Local Vendors
    • Our Infographics/Resources