Homeowners Insurance in Boca Raton, FL

Owning a home can help you and your family maintain a sense of security, stability and safety. But regardless of how well you may keep your home or how safe a neighborhood you believe you live in, certain accidents, incidents and other unexpected situations may inevitably require the assistance of homeowners insurance. Magen Insurance Inc. is dedicated to helping Boca Raton homeowners understand their coverage needs and secure the right policies.

What Does Homeowners Insurance Cover?

Also known as home insurance, these policies are generally intended for residences you own and use as your primary residence. Properties you rent out to tenants or that serve as vacation homes may require specialized coverage.

A standard home insurance policy is typically equipped to address many common incidents and perils, including accidents, fires, burglaries, vandalism and certain types of severe weather. Your insurance may be composed of the following financial protections:

• Dwelling coverage may address damage to your primary residence, such as that involving its roof, walls, foundations and plumbing and electrical systems.

• Other structures coverage may help manage losses involving additional buildings on your lot, including detached garages, sheds and gazebos.

• Contents coverage may assist with the cost of replacing washed, damaged or stolen personal property.

• Personal liability coverage may offset third-party losses for which you or another insured, such as your spouse, children or pets, are responsible.

• Loss-of-use coverage may help you afford alternative accommodations and other additional expenses if you’re forced to temporarily leave your home due to a covered incident.

How Do Home Insurance Deductibles Work?

Your deductible is a key clause in your home insurance policy and generally establishes a minimum amount you’ll need to pay out of pocket for covered losses. For example, if you suffer $10,000 worth of damage from a fire and have a $1,000 deductible, your insurer could contribute $9,000 toward your losses.

How Are Rates Calculated?

Home insurance premiums may be based on several criteria. Carriers may consider the following:

• Location

• Structural specifications

• Estimated rebuild cost

• Liability risks (e.g., attractive nuisances like swimming pools)

• Credit score

• Claims history

• Deductible

• Endorsements

• Policy limits

We’re Here to Help

Contact Magen Insurance Inc. today to learn more about homeowners coverage or compare personalized quotes.