Lake St. Louis homeowners aren't legally required to have homeowners insurance, though many mortgage lenders do require it. Even if you don't need it, though, it is still smart to protect yourself and your home with adequate coverage.
Here's what you need to know about some of the most common components of homeowners insurance in Lake St. Louis.
As unlikely as it might be, you could be in for some serious expenses if someone gets injured on your Lake St. Louis property. Liability coverage will protect you in this regard, especially if the person decides to sue at a later date. Your coverage will also likely handle any medical bills the person incurs.
Property Damage Coverage
If something should happen to your Lake St. Louis home, like a fire or break-in, you don't want to have to cover the costs of the repairs out of your own pocket. Property Damage coverage can cover any structural damage to your home.
To ensure you have adequate protection, it is a good idea to have at least enough coverage to pay to completely rebuild your home so that you aren't left without a place to live in case of total loss. Most mortgage lenders will set this as the minimum requirement as well.
Loss of Use Coverage
If there was serious damage to your home, you may have to relocate during the repairs. And the costs for alternative housing can add up over time. Loss of Use coverage can help with these expenses while you are unable to live in your home, giving you greater flexibility until your home is restored.
Personal Property Coverage
This is the coverage you need to protect the actual contents of your home, like your furniture, clothing and appliances. You should base your coverage limit on the expected cost to replace all of the necessary items in your home to ensure you have adequate protection in case you lose everything.
Jewelry, fine art and other items of high value will typically require separate coverage, as most Personal Property policies have a limit on the values of individual items.
Protect Your Lake St. Louis Home with Homeowners Insurance
You've got a lot of options in terms of homeowners insurance coverage, and the experts here at Lang Insurance can help you weigh your options. Get in touch with us today to learn more about homeowners insurance in Lake St. Louis. We'll tailor a policy to your needs and provide you with a free quote. Call now at 636-229-7000 to get started.