Centre Realty Group
Tracy Johnson, Centre Realty GroupPhone: (617) 595-2600
Email: [email protected]

Insurance of property: Understanding your coverage as an owner or renter

by Tracy Johnson 07/31/2023

Photo of condo building

Insurance of property is a broad concept, including multiple types of insurance policies. Property insurance policies are incredibly important to owners of rental properties, as they can provide financial help in case of damage to the property or personal injury.

Here are some of the important facts about property insurance:

What is property insurance?

The term property insurance is generally used for policies which offer either property protection or property loss protection to owners. Property insurance is available as part of homeowners insurance, renters insurance, flood insurance and earthquake coverage.

How property insurance works

Property insurance provides coverage for owners or renters of a property or structure in case of theft or damage. It also includes liability coverage for people other than the renter or owner if they are injured on the property.

What should I search for in a property insurance policy?

When shopping for a home insurance plan, make sure the policies offer all the necessary protection at a reasonable cost. It's ideal to find an insurance company with excellent ratings and reliable service in your local area.

Property insurance consists of three types of coverage: actual cash value, replacement cost and extended replacement cost. Each of these have different coverage limits, so it's crucial to understand the details of your individual policy.

Work with your insurance company to find the best value for your homeowners insurance or renters insurance coverage. Comparing quotes from different providers also gives you an edge for protecting your property.

About the Author
Author

Tracy Johnson

With over 25 years of extensive real estate experience throughout the Boston and Metro West areas. Combine this with my ability to work smart and to not stop working until your needs are met and you get a broker that will help you make the right decisions when it comes to buying or selling your home.

Let my success work for you. I have been trusted to represent developers, builders, attorneys, financial planners, and many other professionals, selling condominiums, townhomes, new construction, investment, commercial properties, and of course single-family homes. I know your neighborhood.

I’m a problem solver and an excellent negotiator. Problems often arise that can stop a sale. I’ve solved many problems over the years and when I don’t have the answer I find an expert who does.
I offer first-class marketing I guarantee will work for you. I can tell you what you need to do to get your home sold quickly and for the best possible price.

If you are looking for a professional you can trust to help find your dream home or sell your current home, contact me today. If you are not completely satisfied with my service you can cancel any time. I am always available by phone or email, so please reach out to me anytime!
I am committed to getting you, the results you deserve.