Homeowners Insurance in Medford, OR
From charming craftsman bungalows to modern family homes, each residence tells a unique story. Ensuring that this valuable asset is properly insured is crucial for your financial security and peace of mind. At AIC Insurance Agency - Medford, we’re committed to helping you find the right homeowners insurance to safeguard your property and belongings against life’s unexpected events.
What is Homeowners Insurance and What Does it Cover?
Homeowners insurance is a policy designed to help cover your property, possessions, and liability from potential losses. A typical homeowners insurance policy may include:
- Dwelling coverage may help pay for repairs or rebuilding if your home is damaged by covered perils such as fire, windstorms or vandalism.
- Personal property protection may help replace belongings like furniture, clothing and electronics if they’re stolen or damaged in a covered event.
- Liability coverage may offer financial support if someone is injured on your property and you’re found responsible.
- Additional living expenses assistance may help cover costs if you need to live elsewhere while your home is being repaired after a covered loss.
How Home Insurance Deductibles Work
A deductible is the amount you agree to pay out of pocket before your insurance coverage kicks in for certain claims. Understanding how deductibles work is crucial for managing your homeowners insurance:
- Deductible selection—You choose a deductible amount when purchasing your policy. Higher deductibles often result in lower premiums, while lower deductibles typically mean higher premiums
- Claims process—When you file a claim, you’re responsible for paying the deductible first. Your insurance then covers the remaining amount, up to your policy limits.
- Per-incident basis—Unlike health insurance, homeowners insurance deductibles usually apply to each claim, not annually.
- Deductible types—Some policies may have different deductibles for different types of claims. For example, you might have a separate deductible for wind and hail damage.
Learn More
Don’t leave your Medford home vulnerable to unexpected risks. Contact AIC Insurance Agency - Medford today to learn more about our tailored homeowners insurance solutions.