If you are a homeowner in Maryland, it is your responsibility to protect your home. Getting the right type and amount of home insurance protects the structures of your home and your property. It protects from your financial losses in case of perils such as fires and vandalism. At Rice Agency Inc. we do our best to offer your home the most appropriate insurance cover depending on the amount of risk it faces. Our agents will speak to you and understand your needs before providing a quote. The following are some of our home insurance coverage options.
Our dwelling coverage option covers the physical structures of your home including the walls and foundation. It helps you to pay for the cost of repairs or rebuilding in case of risks such as fires. Our dwelling coverage option may compensate you for the damage of other physical structures attached to your home.
Some risks such as fire and vandalism may render your home unsuitable for habitation. You may need to find alternative housing while your home is under repair. Our additional living expenses coverage option helps you to pay for the costs that come with finding alternative housing such as the cost of hotel bills.
Your home probably has valuables that may be expensive to replace or repair in case of damage. They may include; electronics, home decoration, art, and clothing. Our personal property coverage option covers them. It helps you pay for their repairs or replacement in case of damages from covered perils. You may receive compensation for the replacement cost value or actual cash value. The actual cash value is the price at which you bought the piece of property, minus the depreciation value. The replacement cost value does not deduct depreciation.