Tips on Selecting the Best Insurance for Your Real Estate in Durango, CO

Insuring your real estate in Durango, CO is always a great idea but with all the different plans that are out there, it is hard selecting the best one for you and your family.

What Is Home Insurance?

If you are considering insurance for your real estate in Durango, CO, you should try to learn as much as you can on what insurance for your home entails. Homeowner’s insurance will mitigate the risks of theft and damage from fires, storms, or other natural disasters. The prices of insurance plans differ based on geographical areas and whether there are prevalent natural disasters in that given area and also the perceived risk of loss.

What Does Home Insurance Cover?

Structure of your Home: Depending on what coverage plan you have, most insurance plans have a designated budget to pay for repairs or replacements of the structure of your home. If your damage exceeds the costs, you can opt to get additional coverage.

Other Structures of your Home: This category covers any other structures you may have on your property, such as decks, outbuildings, etc.

Contents of your Home: If personal belongings inside of your real estate in Durango, CO are damaged during a storm, your insurance should cover replacements and repairs. However, there is a limit that depends on how much the item costs. Most insurance plans do not cover expensive belongings, such as jewelry and collectibles. If you want insurance for your more expensive and priceless items, you will want to list them under insurance riders so you can receive coverage and reduce the premium.

Liability: If your property damages another person’s property, your insurance policy may cover this. For example, if a wind storm takes one of your lawn chairs and flings it into your neighbor’s window, your insurance may pay for the repairs.

Loss of Use: If your property has been so badly damaged that it is unlivable, your insurance will cover another dwelling for you and your family.

Choosing the Best Insurance

When you are ready to start looking for the best insurance for your real estate in Durango, CO, you will want to be meticulous during the selection process. It is a good idea to stay organized and make a spreadsheet comparing the benefits and prices of each insurance policy. While this may seem like a long arduous process, you will save yourself money and worry in the long run, if you take your time looking at insurance options. Make sure to know exactly what each insurance plan offers and what isn’t covered or how much will be covered. Overall, insurance can save you a ton of money and worry as long as you take your time selecting the best plan for you and your family’s needs.

If you are looking to purchase gorgeous real estate in Durango, CO, trust in Team Lorenz. Please give us a call at (970)375-7007 or at (800)955-0259, ext. 1123 today!