Do I need home insurance when my mortgage is paid off

When you purchase a home you commit to up to 30 years of mortgage payments. When you make the last payment, a party is called for. You aren’t required to carry home insurance any longer by your lender so the temptation may be there to let it lapse. At the  Kevin Dennis Insurance Agency in Mishawaka, IN we strive to make getting the insurance you need simple and stress-free. With over 46 years of experience, we have the knowledge you look for in an insurance agency. 

While not having to pay for home insurance may seem like an attractive option, it puts your largest asset in danger as well as your other assets. Home insurance offers valuable protection and is something you need to continue to keep on your home.

Most people think about replacing the physical home as the main component of their home insurance, it is only one. Your home insurance also protects your contents, offers liability protection, and will help you have a roof over your head if your house is damaged or destroyed. 

We live in a world where getting sued has become a common occurrence. If someone is injured at your home or by a member of your family, you are responsible for any medical bill that may be incurred, Beyond that, they may decide to sue you. Judgments are on the rise and can run into six figures. If you don’t have liability insurance it is up to you to pay the money from your savings or by having your wages attached. You could end up having to sell your home which defeats the purpose of saving money by letting your home insurance lapse. 

If you live in Mishawaka, IN or the surrounding area, the independent agents at Kevin Dennis Insurance Agency can help protect your home at a price that makes sense to you. Stop into our office or give us a call for a no-obligation quote. 

When is having home insurance a requirement?

There are many different great investments that someone can make. However, one of the best long-term investments that you could make would be to purchase your own home. If you are in Mishawaka, IN, buying a home will come with plenty of short-term and long-term advantages. When you do purchase a home here, you need to remember that it is a very big asset and investment that you need to properly protect. A great way to do this is with home insurance. In fact, there are several situations when having this will be a requirement.

When Financing the Home

A very common situation when you will need to have home insurance is when you are going to finance the purchase of the home. Anyone that takes out a mortgage will need to carefully review their insurance requirements. Most of the time, it will include specifications for the type and level of insurance that you need. 

When in an Association

If you live in a property that is governed by a home association, you also likely will need to have home insurance. A condo association will want all owners to have home insurance to ensure they can pay for damages they cause and to repair their home. You will likely need to provide evidence of coverage each year. 

Property owners in the Mishawaka, IN area often are required to get home insurance. Even if it is not a requirement for you, having this coverage is almost always a good idea. When you are in the market for home insurance here, you should speak with the team at Kevin Dennis Insurance Agency. If you do call Kevin Dennis Insurance Agency you can learn a lot more about the advantages of this insurance policy and how it could protect you. 

Three features your home insurance policy should offer

If you’re a homeowner in Mishawaka, IN, you need to purchase home insurance to protect the investments you’ve made in your property. We offer home insurance policies at Kevin Dennis Insurance Agency. 

Here are three features you should be sure to look for in your home insurance policy.

Coverage for temporary living costs

If something happens to your home that makes it temporarily uninhabitable, you’re going to need a place to stay. You should know that some home insurance policies will offer coverage for temporary living costs brought about by the destruction of a policy holder’s property.

This is a useful feature for a home insurance policy to have. With this feature, you don’t have to worry about finding a way to pay for alternative housing until your home gets repaired. 

Added coverage options for especially valuable possessions

A standard home insurance policy should offer coverage for the possessions within your home. However, there will be coverage maximums on this type of coverage. If you have especially valuable possessions in your home, a standard home insurance policy might not offer enough coverage for your needs.

This makes it important to choose home insurance from a provider who can offer added coverage for valuable possessions. 

Coverage for damage to outbuildings on your property

If you have outbuildings on your home like a detached garage or guest cottage, it’s essential for you to make sure your home insurance will cover these outbuildings. Otherwise, you might end up having to pay out of pocket for repairs if your outbuildings become damaged. 

Are you interested in learning more about important home insurance features? Get in touch with us at Kevin Dennis Insurance Agency to learn more about home insurance in Mishawaka, IN. 

What First Time Home Buyers Must Know About Home Insurance

Taking the keys to your first home and opening the front door is one of the most energizing and validating experiences in American life. To see the value of your hard work manifest in a physical location means a lot, especially the first time it happens. 

While you revel in the experience of being a new homeowner, consider taking the time to learn about what the right home insurance can do for you. 

The easiest way to learn about home insurance is to call Kevin Dennis Insurance Agency. Your dedicated insurance agent will patiently explain homeowner insurance to you, and get you started on your homeownership journey.

Coverage

The coverage your home requires depends on several factors. 

Your home insurance should cover the cost of replacing your home. If you purchased your home using a mortgage loan, your mortgage provider might require that your coverage equal 80% of the cost to replace your home.

Deductible

Home insurance policies typically require the payment of a deductible if the policy needs to cover a loss. When purchasing a home, it’s essential to consider the amount you will be willing to pay in deductible, should you need to utilize the policy to cover damage or loss.

What is Not Covered 

Most homeowner insurance does not cover flood damage, as flood insurance is issued separately. Call Kevin Dennis Insurance Agency to learn more about what is and is not covered by a typical homeowner insurance policy. 

Your Mishawaka, IN Home

Whether your first home is a condo, a townhome, or a single-family home, your family will be delighted to organize and decorate– knowing this place will be your very own for years to come. Watch your daughter’s room change as she moves from figure skater posters to boy bands. Your wife will love selecting window treatments for the front room and choosing the perfect tile backsplash for the kitchen.

But before you get cozy in Southbend or Mishawaka, IN, contact Kevin Dennis Insurance Agency for a free home insurance quote. Make a choice to protect yourself and your family today. 

How to create a home inventory

Owning a home comes with plenty of work and worries. You update your home to fit your needs and you have good home insurance to protect you in the event that something bad happens. But, if something bad does happen, are you prepared to be able to tell the insurance company all the things that you had in your home before the damage occurred? When you file a claim, you need to account for your possession if you want to be able to make sure that you are able to replace everything that you had. If you live in or near South Bend or Mishawaka, IN, the Kevin Dennis Insurance Agency can help you to understand the value of a home inventory.

Why Do I Need a Home Inventory?

Creating a home inventory is going to take some time. The more detailed your inventory, the better. Begin by taking photos of every room in your home. Take a few photos of each room from different angles. Then list the items in the room one by one. The more information included the better. Brand names, models, and serial numbers should be included. If you have the sales slip for the item, even better, attach it to the inventory. 

If you have expensive items, it is wise to include an appraisal. Once you have done all the rooms, do the attic and basement. Open closets and cupboards. When everything is documented, place your papers in a safe place preferably off the premise. At the very least, place it in a water and fireproof container. 

A home inventory is one of the single most important documents that you can have when you are filing a claim for a covered hazard on your home. At Kevin Dennis Insurance Agency, we offer the residents of South Bend, Mishawaka, IN, and surrounding areas the benefit of our years of insurance experience. Give our office a call or stop by for a no-obligation quote.

When to Talk to an Agent About Your Indiana Homeowner’s Insurance

From newborn babies to employment changes, life rarely stays the same for long. When change is the only constant, flexibility becomes an accurate measure of strength.

How reliable is your homeowner’s insurance?

If you’ve recently experienced any of these adjustments in life circumstances, it may be time to schedule a meeting with the experts at Kevin Dennis Insurance Agency to ensure your Mishawaka, IN home is fully covered.

  • Birth or death in the family – Changes in your dependents directly affect your potential payouts, especially if the primary dependent is unable to collect due to death or other circumstances. Make sure your qualified dependents are up-to-date by talking to your insurance agent.
  • Change in marital status – Getting divorced or joining households with a new spouse means changes to your credit score. This, in part, affects your premiums and other aspects of your homeowner’s policy.
  • Starting a home-based business – Working from home is a dream come true for many. However, your commercial activities may not be covered by your regular policy. Your agent can help you come up with a plan that includes all of your bases.
  • Renting your extra property – Do you own multiple residential properties? Renting out an old home is a great way to earn a side income. However, being a landlord comes with a different set of risks. Create a new plan with your agent that protects your finances and your renters.
  • Employment changes – Whether you’re taking advantage of a well-deserved retirement or changing careers in mid-life, changes in your employment status usually mean changes in your finances. See how these fluctuations affect your long-term financial plan by scheduling a meeting with your insurance agent.

The experts at Kevin Dennis Insurance Agency offer more than claims assistance and new policies. Contact our Mishawaka, IN area offices to learn how little life changes might affect your Indiana homeowner’s insurance.

Does Home Insurance Cover A Roof Collapse As A Result Of Snow?

Mother Nature is both unpredictable and destructive, which is why it is crucial to be prepared for anything. Homeowners can arm themselves with quality protection in the form of comprehensive home insurance that can help cover expenses incurred as a result of storm damage. This damage may even come in the form of snow accumulation on the roof, which may cause the roof to collapse. 

Preparing For Heavy Snow

People who live in areas where there is potential for heavy snow accumulation should be well versed on what their insurance policy will cover in the event of a roof collapse. Keep in mind that most home insurance will cover the damage to the home, but unfortunately, the coverage may not include the water damage from melted snow after the collapse. Consult with the insurance agent before selecting the policy and find out if additional protection from melted snow damage is available and which options could work best. 

Work With Experienced Agents

Part of the process of protecting property is choosing the right insurance policy, which is why those who live near the South Bend or Mishawaka, IN area should be prepared before heavy snow arrives. Homeowners can get a better picture of what the options are, and which provides the most complete coverage by working with Kevin Dennis Insurance Agency. If additional insurance products are necessary, we can point this out and walk the customer through the process of discovering which additional measures work to offer comprehensive home protection.

People who live in or around the South Bend or Mishawaka, IN area, should call or stop by Kevin Dennis Insurance Agency to find out more about ways to protect a home from damage to the structure. Planning in advance can help save thousands in the event of a roof collapse during the winter months. Contact us for a quote.

Does Home Insurance Cover Your Personal Property?

Homeowners insurance is an important policy with different coverage options that protect your largest asset from claims and financial liabilities. However, protecting your personal assets in your home is also prudent. These are the possessions you’ve worked your entire life for, and they are worth preserving. Do generic homeowner policies protect your personal property, though? 

According to the Indiana Department of Insurance, homeowners insurance will cover some of your family’s personal property. These items include furniture, rugs, clothing, and appliances. However, you may not be able to attain insurance that will protect 100 percent of your personal property. The percentage of coverage you receive will be stated in your policy. It is important to document all of your personal property though, in case you have to file a claim for reimbursement. 

Sitting down with a qualified insurance professional at Kevin Dennis Insurance Agency in Mishawaka, IN is an important first step in protecting your home and assets. There are different types of homeowner policies, and knowing the nuances of the industry and available options is key for optimal protection. Working with a diligent professional that understands your needs can have a huge impact on your insurance policy. Your risk mitigation strategy should include using an insurance agent that will work with you to help preserve your financial well-being, in an efficient and cost-effective method. 

To learn more about home insurance and coverage options, please contact Kevin Dennis Insurance Agency in Mishawaka, IN today. The right insurance policy can help protect your home and personal assets while giving you peace-of-mind. Look to insurance professionals that understand the nuances of home policies for guidance and effective risk mitigation. 

 
 

How to Know You Have Adequate Coverage For Your Home

Do you know if you’re buying the right kind of home insurance policy for your South Bend or Mishawaka, IN home?

Sometimes, the most basic policy is not the right one for you. Also, the most expensive policy might be too comprehensive for your needs. Use these tips to figure out which coverage from Kevin Dennis Insurance Agency is right for you.

1. Do You Live On A Flood Plane?

If your home is located near a river or another body of water, you might like to invest in flood insurance.

Flood insurance is always a separate purchase from your standard home coverage policy. In fact, some states require the purchase of flood insurance by law. This is especially true if you’re paying for your home via a mortgage loan.

A standard home insurance policy covers basic damages due to a house fire or a break-in, but water damage is not included in that type of coverage.

2. How Safe Is Your Neighborhood?

If you live in a statistically safe neighborhood where property crime is infrequent, then you probably have adequate coverage in the basic type of home insurance policy. Basic home coverage includes reimbursement for theft and some types of disasters (such as fires), up to a maximum amount depending on your individual policy limits.

If you live in a town where property crime is prevalent, however, you might be interested in itemized coverage. This type of coverage requires you to take inventory of your possessions, from the most valuable to the most mundane. This inventory includes valuation and pictures. You can then be reimbursed for your specific belongings.

3. Do you have pets?

If furry friends are a part of your family, your home insurance coverage may be affected. Typically, a standard home insurance policy does not cover most damage caused by dogs and cats. If your dog chews through to your drywall or severely scratches your hardwood floor, for instance, you may not be able to collect on a claim.

You can find home coverage that includes damage caused by animals, or you can purchase additional liability insurance. Home liability insurance usually covers damage done by the pets of your visitors, however.

Furthermore, certain dogs may void your standard home insurance policy. If you have a German Shepherd or a Pitbull, for instance, this may automatically go against your policy.

Purchase Your Ideal Home Insurance Policy

Learn more about how to protect your home in South Bend or Mishawaka, IN with the appropriate amount of coverage. Call a friendly Kevin Dennis Insurance Agency representative with any questions you may have. We will guide you to the policy that best suits your circumstances.

What To Do In Your Home When the Temperatures Drop Below Freezing

One of the biggest concerns of homeowners when the temperatures drop below freezing is frozen pipes. Temperatures in Mishawaka, IN can drop below freezing, and it’s good to know what to do when it happens. At Kevin Dennis Insurance Agency, we know all too well the damage that can happen if you don’t protect your home from freezing temperatures.

Frozen Pipes and Other Issues

If you have exposed pipes, such as those that could be found in a garage or attic, wrap them with pipe insulation to prevent freezing. If you’re in a pinch and don’t have materials or time to wrap your pipes, a quick temporary fix is to aim a heat lamp on the exposed pipe. Always keep a close eye on this, however, as you don’t want it to get too hot and start a fire.

Another common tip when temperatures drop low is to leave your faucets running at a slow drip. This is especially important in garages and basements where it may be cooler. Doing so keeps the water moving, so it is less likely to freeze. Another great tip for the pipes inside your home is to leave any cabinets or closets that contain pipes open, so the heat from your home reaches the pipes.

If you are going away, make sure you follow all of the above tips and also be sure to keep your heat on. If you turn your heat off completely, you just might come home to broken pipes and a flooded home.

In the unfortunate event you do have a pipe burst, shut off the main water valve to your house as soon as you realize the pipe has burst. If you recognize that a pipe is frozen, but it has not yet exploded, you might be in luck! Use a heat lamp or hair dryer to thaw out the pipe, but again, keep a close eye and never leave these items unattended.

Another area of the home that can suffer from freezing temperatures is your gutters. Make sure they are cleaned out so the water can flow freely; otherwise, it’s likely to freeze and clog or even burst your gutters.

Kevin Dennis Insurance Agency wants to make sure all homes in Mishawaka, IN and surrounding areas stay safe and dry this winter. If you need help insuring and keeping your home safe, please give us a call today!