Yakima Homeowners Insurance

Yakima homeowners insurance is a necessity for protecting assets and satisfying mortgage lenders. Yakima, WA, is located in the heart of apple and wine country, just southeast of Mount Rainier National Park. It is the eighth largest city in the state of Washington, and an excellent place to buy a home. Immediately after closing, homeowners should begin exploring their Yakima homeowners insurance options.

When buyers close on a home, mortgage lenders usually require that a homeowners insurance policy be put in place immediately. If the Washington home insurance policy fails to be established or lapses, the lender will establish a policy and pass the cost of the premium on to the owner. The premiums are likely to be much higher through a lender's policy, so be proactive about procuring Yakima homeowners insurance.

Insurance Policy Coverage

Homeowners policies provide differing levels of coverage, but most will include the same basic package. Yakima homeowners insurance packages should cover the dwelling and its fixtures, other structures like garages and sheds, personal property, loss of use, personal liability and medical payments. These are the baseline items a policy will cover, and additional packages can be added.

Personal liability is a vital part of any Yakima homeowners insurance policy. Some may feel that it is an unnecessary cost, but it protects the owners in case someone is injured on the property. Personal liability covers the policy holders' financial loss if they are sued and found legally responsible. The home coverage premium cost easily pays for itself when it covers a single lawsuit.

Protection of the dwelling and other structures covers fire, lightning and removal of personal items from a home damaged by either disaster. Loss of use coverage offers some compensation for the family's living expenses while repairs are made following a disaster. Medical payments covers the medical bills of people injured on the property.

Carefully review Yakima homeowners insurance policies before choosing one. Policies offer different limits of coverage, and some cover assets that others do not. After a disaster occurs, it is too late to decide that a policy is not comprehensive enough.

Earthquake Insurance

Yakima residents should consider earthquake coverage as part of their insurance packages. Yakima, WA, is located on a fault line capable of producing catastrophic earthquakes. If an earthquake causes a home to be unlivable, but the homeowners do not have earthquake coverage, the policy will not pay for the damages to the home.

Policies can include named perils or all risk. Named-perils coverage is more common; the policy holder must specify a list of risks he wants protection against. All-risk coverage is comprehensive, requiring considerably higher premiums. Other risks that can be included in named-perils coverage or "broad form" coverage are wind, which includes hurricanes and tornadoes, hail, aircraft, riot, volcano, vehicles, explosion and smoke. All homeowners should thoughtfully evaluate their level of risk for these disasters.

Some insurers do not include earth movement or earthquake insurance on lists of named perils. In this case, Yakima residents would have to purchase a separate policy to cover the event of an earthquake. A mortgage lender will not likely require this extra coverage, but it may be a worthwhile investment to protect the family's assets.

Shopping for Homeowners Insurance

Being a smart consumer is the best way to get the proper level of Yakima homeowners insurance coverage for the right price. Different companies offer different rates for the same coverage, and claims service varies among companies. Getting premium quotes is a good way to compare agents and companies. The first step is evaluating your Yakima homeowners insurance needs.

Your level of coverage is based on the estimated cost to rebuild your home. A Yakima contractor can help assess the property and provide an estimate. The insurer may ask for the square footage of the home, when it was built and the type of construction. Distance from the nearest fire department and the home's condition are other pieces of information that help providers develop a rate quote.

You may qualify for discounts, so ask each provider how much you can save on your premium. Discounts are often given when customers buy an auto policy, disaster-proof the home, make updates to electric and plumbing systems and take other steps to reduce risk. The deductible that the consumer chooses also affects rate quotes.

Talk to reputable agents that are licensed by the state of Washington, and obtain several quotes before making a decision. Mention whether you are interested in named-perils coverage or special collections policies for valuables. Then choose the policy that best fits your family's needs. Yakima homeowners insurance is an important investment to protect the policy-holders' assets. Fill out our easy-to-use form to get quotes and connect with Yakima, WA agents.

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