Kentucky Homeowners Insurance

Serving Lexington, Louisville, Somerset, Bardstown, Nicholasville, Frankfort, Richmond & more

 

A standard homeowners insurance policy helps cover you, your home and your possessions. With homeowners insurance, you can help protect yourself financially after an accident or other covered event. 

What Does Homeowners Insurance Cover? 

 

A homeowners insurance policy typically includes the following five types of coverages: 

• Dwelling coverage
• Personal belongings coverage
• Liability coverage
• Additional living expenses coverage
• Other structures coverage 

How Does Home Insurance Work? 

 

When you have homeowners insurance, you must pay a premium in exchange for the coverage listed in your policy. If a covered incident occurs, such as a burst pipe or a fire, you can file a claim with your insurance provider. They will determine if they will pay for the cost of the loss, minus any applicable deductible and up to the policy’s limit. 

How Do Home Insurance Claims Work? 

 

Insurance carriers can handle claims in various ways, but the following are the basic steps one may take: 

• Report your claim. It’s important to contact your insurance provider as soon as possible to report your claim.
• Work with your insurer to go over the damages. Your insurance provider will typically discuss the incident and possibly make arrangements to inspect the damage in person.
• Document your losses in detail. Make a list of everything damaged in your home and take pictures and videos if possible.
• Keep your receipts. If you need to make immediate repairs to protect your property from further damage or you need to relocate temporarily, be sure to save those receipts. You may be asked to provide them as part of the claims process.
• Receive a payment. If the claims professional determines that the damage is covered by your policy, you will likely receive compensation based on an estimate of the damage and in accordance with your policy’s terms. 

Keep in mind that the procedure for claims may differ due to the many variables involved. 

How Much Home Insurance Do I Need for a Mortgage? 

 

The amount of home insurance a mortgage lender requires varies based on a few factors, including the following: 

• The amount of your down payment
• The amount of the loan
• If the location or features of your home call for additional coverage 

Lenders may require you to carry enough insurance to cover your loan amount. However, you may want to consider insuring your home for its full replacement cost if it is completely destroyed.  

Home Insurance Quote in Bardstown, KY 

 

If you are ready for a home insurance quote, contact First Insurance Group. We can help you find the right coverage for your home and mortgage lender requirements.
 

Additional Resources:

• Falling Trees: An Avoidable Claim
• What Your Home Insurance Declaration Tells You
• 6 Things That Help Determine Home Value For Insurance Protection
• Read more home insurance articles here.