Homeowners insurance has saved many households from financial ruin due to fires, natural disasters, lawsuits, and more. Though the coverage is not mandatory by law, it is often required by mortgage lenders. Regardless of whether you are under obligation to purchase home insurance or not, there is not a reason to take chances with your financial security. At Burstad Insurance, we help homeowners in Central and Western Wisconsin find competitive rates on home insurance coverage with policies issued by several of the state’s leading carriers. Whether you are buying a house for the first time or looking for the one-on-one service and selection offered by a local independent agent, the team at Burstad Insurance can help you achieve your coverage goals.
Covered Perils and Losses
Wisconsin home insurance provides coverage for many types of losses. Some policies issue broad protection with exclusions only for named events and circumstances. Others cover only the losses caused by events named in the policy. A typical homeowners policy may cover damages caused by:
- Fire
- Smoke
- Explosion
- Wind
- Lightning
- Hail
- Theft
- Vandalism
- Falling objects
- And more
Damages caused by earthquakes, flooding, and water backup or discharge are examples of events for which coverage is typically excluded. Talk to your agent about endorsements and stand-alone coverage options that may extend protection for damages caused by these types of events.
Home Insurance Coverage Types
A typical Wisconsin home insurance policy will feature several different types of coverage, each of which safeguards your assets and income against different types of losses. Your coverage may include the following types of protection:
Dwelling and Other Structures
This section of your policy outlines the coverage available for the rebuilding or repair of your home and other structures on your property if they are damaged or destroyed due to a covered event. This usually includes your primary structure, fences, detached garage, pool house, shed, carport, and other structures on your property. We suggest choosing a policy that offers replacement cost coverage for your home and other structures, as this helps to ensure your claim compensation will not fall short of the money you need to rebuild your home after a total loss.
Personal Property
Home insurance can also protect the things inside your home. It could cost tens of thousands of dollars or more to replace your personal belongings, from your furniture and electronics to your apparel and home décor. Personal Property coverage helps compensate you for the loss of these items, as well as items you own that are damaged or stolen away from your home. Like your Dwelling and Other Structures coverage, we recommend upgrading your coverage to include full replacement value protection for your personal property. This ensures compensation for the cost of replacing your damaged belongings with new ones – not merely a check for the depreciated value of your items.
Many insurers provide default Personal Property coverage limits equal to 50 percent of the value of the Dwelling Coverage. However, you may need additional protection – particularly if you own high-value items worth more than the coverage caps outlined in your policy. Take inventory of your home and talk to an agent at Burstad Insurance to determine how much personal property coverage you may need.
Temporary Displacement
If a fire or other covered event forces you from your home and into a temporary living space, your homeowner’s insurance can help pay the financial costs associated with displacement. Coverage is usually available to cover hotel fees or rent while your home is repaired or rebuilt. It may also pay for added living expenses, such as the cost of take-out meals or doing your laundry in a public facility.
Liability
You take on new risks when you purchase property. If someone slips on a loose rug in your home, you could be sued for the resulting injury-related expenses. If your pet harms a passerby, you could be responsible. With homeowners liability insurance, you are covered for a wide range of third-party injuries and property damages up to the limits of your policy. Liability insurance can help cover medical bills and damaged property replacement, as well as legal fees, judgments, and settlements if you are sued.
When possible, choose high limits for your liability insurance, as you remain responsible for any damages not covered by your policy. If your limits are too low, you may have to pay excess liabilities out of your own savings or income until the debt is satisfied. Talk to an agent here at Burstad Insurance to assess your liability risk exposure and determine how much coverage you may need. Be sure to ask about personal umbrella insurance, which can extend your liability protection by up to $1 million or more.
Medical Payments
If someone is injured in your home or on your property, medical payments insurance can help pay for the cost of necessary medical care even if the injury is not your fault. Medical payments coverage is usually limited to a few thousand dollars and does not relieve you of potential liability, but it may be enough compensation to help you avoid a potential lawsuit.
Request Your Wisconsin Home Insurance Quotes
If you are a Wisconsin homeowner, we want to help you save on insurance. With multiple locations throughout Central and Western Wisconsin, Burstad Insurance can serve you with convenience, service, and selection. As an independent agency, we can shop and compare rates and coverage from multiple Wisconsin home insurance companies. We know the things that matter most to our clients and work hard to both meet and exceed your expectations. We also search for discounts that could help you save money on your insurance premiums. These may include savings for:
- Installing a monitored home security system
- Purchasing additional lines of coverage from the same carrier
- Having a new roof
- Having no recent history of claims
- Raising your deductible
- And more
Whether you own your home outright, are still making mortgage payments, or plan to purchase your first home in the near future, we can help you protect your investment with coverage that reduces your exposure to financial risk. Whether you suffer a break-in, lose your home to a fire, or face a lawsuit for a guest’s injury, we can help you prepare for nearly anything that comes your way.
For more information or to request your free Wisconsin home insurance quotes, contact your local Burstad Insurance office location today. We look forward to serving you soon.
