Home Insurance Las Vegas, NV

Nevada Home Insurance Information:

If you own a home in the state of Nevada, you want to make sure you have enough homeowners insurance on your home to protect you against financial loss in case of storm damage, vandalism, or legal actions brought against you due to accident or injury on the premises. For instance, Nevada weather is unpredictable, and torrential downpours, high winds, and lightning storms can occur. The hard ground of Las Vegas makes it susceptible to flash floods, and after Alaska and California, the state of Nevada is ranked third in the U.S. for major earthquakes.

To guard yourself and your home against common perils, you can choose a variety of types of Las Vegas homeowners insurance. The most common types of homeowners insurance for your house cover the following expenses:

• Damage to dwelling
• Damage to secondary structures
• Additional living expenses
• Personal property damage
• Personal liability
• Medical expenses

Each of these is discussed in depth in the sections below.

Damage to Dwelling

All homeowners insurance policies start by protecting against loss or damage to your dwelling due to disasters such as wind, water damage, fire, and flood—although flood insurance usually costs extra—as well as damage due to vandalism. If your home is completely destroyed, usually you receive the face amount—or maximum payout—of the policy. Otherwise, you receive the cost of repairs. You may also have some type of extended replacement coverage.

Damage to Secondary Structures

Most home insurance policies in the state of Nevada cover damage to secondary structures, in addition to damage to the dwelling. Such secondary structures include the garage, sheds, barns, other outbuildings, gazebos, and even fences. When choosing Nevada home insurance, discuss each outbuilding or secondary structure with your agent to make sure your policy provides the protection you need.

Additional Living Expenses

This type of homeowners insurance pays for any additional living expenses you and your family might sustain if your home is destroyed or becomes uninhabitable. These charges include the following:

• Hotel or motel room costs
• Food or restaurant bills
• Laundry bills
• Other costs required for you to continue your previous standard of living

Depending on the policy, it might last for a stated time, until a stated dollar amount is reached, or until you can return to your home.

Personal Property Damage

In addition to your home and outbuildings, your home insurance policy should protect you against loss or damage to your personal property. It includes the following:

• Furniture
• Clothing
• Book, CD, record, or DVD Collections
• Appliances
• Electronic devices
• Home office equipment

To make filing a claim easier, consider compiling an inventory of your household goods so you have it on hand should disaster strike.

IMPORTANT: Always make sure you have full replacement coverage for personal property!

Personal Liability Coverage

Comprehensive liability coverage is one of the key parts of any home insurance policy. It indemnifies you in the event that someone is injured or suffers property damage on your premises. Your policy should cover all court costs and legal fees associated with defending your case, as well as any judgments against you should the court hold you responsible. “All-purpose” liability protection is portable, meaning that it covers you wherever you are, although boating and vehicular accidents are typically covered under their respective policy types, not under a homeowner policy.

Medical Expense Coverage

Medical expense insurance indemnifies you against any doctor, hospital, or ambulance fees, and other costs of medical expenses that arise out of a mishap on your land. It also covers the costs of any accident that occurs offsite as a result of actions by you, your spouse, your children, or a family pet. Most insurers pay out on claims of this sort whether or not you have been found liable in a court of law.

Other Types of Coverage

Nevada homeowners should also consider flood and earthquake insurance. Normally, these must be purchased separately. As mentioned above, Nevada is home to major earthquakes, and flash floods occur regularly because of the hard ground and torrential rainstorms. Therefore, you should seriously consider adding these types of coverage to your standard home insurance policy, which often only covers storm and fire damage.

Protect Yourself with Adequate Las Vegas Home Insurance Coverage

Finally, make sure you buy enough coverage so that you do not find yourself significantly out of pocket should a natural disaster or other event damage your home and leave you seeking other accommodations. Your policy should all damage to your dwelling and secondary structures, as well as to any property within them. You need adequate liability insurance and medical expense coverage in case of accidents on your premises (or elsewhere if you or a family member is at fault), and your policy should cover all additional living expenses in the event your home becomes uninhabitable.

With the right types and amounts of coverage, you need not fear catastrophic financial loss because of a weather event, a natural disaster, or a human-caused accident.

Average annual home insurance rates in Nevada depend on home's value, location, and other factors. Balsiger Insurance can bundle home and auto to help you save on your annual rates. Reach out to our Southern Nevada location for insurance quotes on homeowners and auto insurance, motorcycle insurance, boat insurance, health insurance, life insurance, earthquake insurance, business insurance, and much more! As a broker, we work with many of the leading homeowners insurance companies, not just one! Some of these insurance providers are Liberty Mutual, Progressive, The Hartford, and Safeco. Of course there are many others too! Our agents will work with you to get great coverage options at an affordable rate. Many Nevada homeowners choose Balsiger Insurance because of the superior service we provide.

Nevada Home Insurance Tips for Lower Rates

Getting the best home insurance in Las Vegas requires the right knowledge of how to shop for it. There are several ways to go about finding the right home insurance, but getting the best coverage at a competitive rate can be difficult.

Get More than Basic Insurance Coverage

The first thing you need to figure out is the type of Las Vegas homeowners insurance protection you want. Home insurance often provides the following:

• Dwelling - Protects the actual structure of your home including the roof and walls.
• Other Structures - Protects other buildings on your land, such as a shed, detached garage or greenhouse.
• Personal Property - Helps to protect any valuable belongings inside your home, such as furniture, electronics or jewelry. This type of coverage helps protect you from theft and can also help protect you from damage outside of the home.
• Liability Protection - If someone becomes injured on your property and sues you, this coverage will help protect you.
• Guest Medical Protection - Helps to pay for the medical expenses of someone not living at the home who's injured on your property.

Most homeowners insurance companies offer a standard policy. It is best to spend some time going over all of your risks and make sure they are included in your Las Vegas home insurance policy. However, you should also go beyond the basic protection, depending on your situation. A few additional options for homeowners insurance consider include:

• Flood Insurance
• Umbrella Insurance
• Living Expense Coverage
• And More!

It's important to consider all of your options before finalizing your homeowners insurance in Las Vegas. While not every zip code in Nevada will need flood insurance, it may be a smart choice in your area. Umbrella insurance can also help give you additional liability coverage, while living expense coverage can help if you have to stay in a hotel due to damage to your home.

Optimize your Insurance Deductibles

The two main things that will determine your homeowners insurance rate are the coverage and the deductible you choose. While you cannot skimp on coverage, you can optimize your deductible to ensure you get an affordable rate with the right coverage.

Choosing a higher deductible will help to save you money on your annual premium. However, it does mean you will have to spend more out of pocket if you need to make a claim. It's important to speak with an independent agent and consider your financial situation when choosing your homeowners insurance deductible. Striking a good balance between a low deductible and a high deductible may provide the right rate and the right coverage for you.

Insure for Home Replacement Cost, Not Value

If something happened and your home was destroyed, would you want a check from the homeowners insurance company for the value of your home or for the replacement cost? If you get a check for the value, it may not leave you much after paying off your mortgage. However, if your homeowners insurance covers the replacement cost of your home, you'll have better coverage with less risk.

It doesn't cost that much more to insure your home based on the replacement cost compared to the actual value of the home. The premium impact is low compared to insuring your home for the value only. You will also have less exposure from under insuring your home if you need to make a claim.

Homeowners Insurance Discounts with Balsiger Insurance - Las Vegas

We can go over a ton of Nevada homeowners insurance discounts! Find the best homeowners insurance policy cost by calling today!

Balsiger Insurance - Las Vegas
3481 E Sunset Rd #100
Las Vegas, NV 89120
702-220-8640