Category: Home Insurance

If you take out a mortgage, you’ll likely have to take out homeowner’s insurance, as lenders typically require coverage. Of course, even if you’re buying a house without using a mortgage, it’s a wise idea to take out such a policy. After all, there’s a good reason why lenders insist on insurance. We’ll explain why, but if you have any further questions, visit Kempton Insurance Group, serving the greater Charlotte, NC metro area.

Why Homeowner’s Insurance is Necessary

For many families and individuals, a home is the most valuable asset they own. When it comes time to retire, many people sell their homes, downsize, and then use the extra cash to fund retirement. Homes have traditionally proven to be among the safer but more profitable investments.

A home is also very valuable to mortgage lenders. When you take out a mortgage, the house and land are used as collateral. If you stop making payments, the bank can take possession of the property. Then, they can sell the assets to recoup the money they lent you.

This means the mortgage lender has a vested interest in the home. Collateralized loans ultimately offer lower risks, so lenders will typically charge less in interest. Due to all of this, the lender will want to ensure that the home is protected in the event of a fire, severe storm, or other risks.

If a home is uninsured and then destroyed suddenly, the collateral is worth a lot less. The property owner might also decide to stop making payments. After all, the owner won’t even have a home anymore. This puts the lender at risk, and they may suffer losses.

Ultimately, home insurance can protect both homeowners and lenders. You can explore home insurance options by contacting the Kempton Insurance Group, which serves greater Charlotte, NC.

When shopping for home insurance in Charlotte, NC, it’s essential to compare policies and prices from multiple insurers. But with so many options available, how do you know which one is right for you? An insurance agent at Kempton Insurance Group has relationships with different insurers and can help you find the one that best meets your needs. Here are a few things to consider when choosing a home insurance policy in Charlotte.

Choosing a Home Insurance Policy

Types of Coverage

The first thing to consider is what type of coverage you need. Most home insurance policies offer protection against damage from fire, wind, hail, and other natural disasters. But you may also want to consider adding coverage for flooding or earthquakes if you live in an area prone to these disasters. You should also make sure your policy covers belongings such as furniture, clothing, and electronics.

Deductibles and Limits

Your home insurance policy will have a deductible, which is the amount you’ll have to pay out of pocket before your insurance kicks in. The higher your deductible, the lower your premiums will be. But you’ll want to make sure you can afford to pay the deductible if you need to file a claim.

Your policy will also limit the maximum amount your insurer will payout for a covered claim. If you have expensive belongings or live in a high-risk area, consider increasing your policy’s limits.

Premiums

The cost of your home insurance policy will depend on various factors, including the value of your home, your deductible, and the type of coverage you choose. Be sure to compare premiums from different insurers to find the best deal.

If you’re looking for home insurance in Charlotte, NC, contact Kempton Insurance Group today.

Residents and homeowners in the Charlotte, NC area are anxiously awaiting Spring! Now is the perfect time to prepare your house for warmer weather. Here at Kempton Insurance Group, we are proud to serve the insurance needs of homeowners and renters in our community. If it’s time to review or upgrade your policy, or if you are planning to buy a new home, we are here to help! Spring is a beautiful time of year for our area, and now is the time to prepare for the warmer weather!

Tips for preparing your home for Spring

• Remove branches close to your home — any loose branches or other debris can cause damage to your home during storms or times of high winds.
• Prepare patios, decks, and other outside areas — make sure that your outside areas are in good shape; make any necessary repairs.
• Inspect roof and gutters — make sure that your home is ready for heavy rain and storms. Clogged gutters can cause damage to both your roof and your home’s foundation. 

Want to learn more about keeping your home safe? Now is a great time to learn more about home insurance policy options. A comprehensive home insurance policy can provide the coverage necessary to give you and your family the peace of mind that comes with knowing that your home is protected. Why not learn more about your options today?

Contact us today!

Insurance is a key part of responsible homeownership. It’s important to know the options that are available to you. The team at Kempton Insurance Group is here to guide residents in the greater Charlotte, NC area with their insurance needs. If you need home insurance or would like to review your current policy for completeness, call or stop by today!

Congratulations on your step into homeownership! Between preparations to move and home showings, your homeowner’s insurance policy is probably something you don’t give much thought to. Since it’s something you’ll pay for every year, however, it’s essential to know how homeowner’s insurance coverage works. At Kempton Insurance Group, we’re here to help new homeowners in Charlotte, NC protect their investment. 

Why do you need homeowner’s insurance?

Mortgage lenders almost always require homeowners to secure insurance on their new property. These policies cover two main areas: your home and the property inside of it (dwelling coverage) and coverage if someone else is injured while on your property  (liability coverage).

How is a homeowner’s insurance policy constructed? 

Every homeowner’s policy has two sections: Section I covers your home while Section II provides liability coverage. These two sections are then broken up into six different titles, labeled A through F. Titles A—D covers your home, other structures, and your personal property. Titles E and F include injuries to others and helps pay for medical expenses.

Factors that determine your premium 

How much you’ll pay for homeowner’s insurance depends on several factors. New homeowners in Charlotte, NC may see their insurance premiums differ depending on where their new home is located. Urban and rural areas may have higher premiums for a variety of reasons, such as the chance of crime and the ability for first response teams to access the home. Home age and construction are also factors in determining homeowner’s insurance premiums. 

 Our team at the Kempton Insurance Group wants to make sure new homeowners in Charlotte, NC have their home covered with a proper insurance policy. Visit or call our office to see what type of homeowner’s insurance policy is right for you.