You worked hard to achieve your piece of the American dream. For residents here in Elkhorn, there is a sense of pride in homeownership and the sacrifices it takes to maintain it. Protect your hard work and investment with home insurance that provides a comprehensive financial defense against various risks and liabilities. At Henricks-Wilging Insurance, we can match you to a policy and carrier that helps protect your financial interests – all at a competitive and affordable rate.
Homeowners Insurance Benefits
A standard Wisconsin home insurance policy offers broad protection against many different risk scenarios. Most policies contain multiple coverage types that work together to safeguard your home, belongings, and indirectly, your finances, and other assets. While more limited policies exist, we generally recommend insurance that offers extensive coverage for a wide range of possibilities and events.
Covered Perils and Damages
Many different perils are covered under Wisconsin home insurance, although some policies offer more extensive coverage than others. There are ‘named peril’ policies, which only cover damages caused by specific named events. There are also ‘all-risk’ policies, which provide more extensive protection for most types of damage. Any exceptions are named in the policy and often include things like earthquakes and floods. Talk to your agent if you are interested in a policy endorsement or stand-alone coverage to protect your home and property against excluded events.
Your Wisconsin home insurance may compensate you for damages caused by:
- Theft
- Vandalism
- Lightning
- Wind
- Hail
- Fire
- Smoke
- Explosion
- Falling objects
- And more
Types of Home Insurance Coverage
A standard Wisconsin home insurance policy usually has six different types of coverage. Each outlines different types of losses and the maximum coverage available for claims. These usually include:
Coverage A – Structural Insurance
This initial coverage is the primary coverage for the structure of your house. It outlines how much the insurer will pay to repair or rebuild your home after a covered event. We recommend insuring your home for its full replacement value whenever possible. Talk to your agent about inflation guard options that help your coverage keep up with the cost of inflation and changes in construction costs.
Coverage B – Other Structures
The next section outlines coverage for the other structures on your property. It can include structures that are not part of the primary structure. Examples include your pool house, fence, gate, shed, detached garage, and more.
Coverage C – Personal Property
If you lose your home to a tornado, you’ll need money not just to rebuild it, but also to re-furnish it. Personal property insurance helps compensate you for the loss of your belongings, from your furniture and electronics to your décor, bedding, and apparel. This coverage can also follow your belongings away from home, protecting you if they are stolen from your car, damaged at work, or lost with your luggage while traveling. We recommend taking a periodic inventory of your belongings to assure you are adequately insured against loss. Some items, such as jewelry, may require additional scheduled coverage beyond the standard limits offered by your home insurance policy. You should also talk to your agent about your compensation options, as replacement value coverage can minimize your losses compared to actual cash value protection.
Coverage D – Displacement
If you are forced from your home because a covered event has made uninhabitable, you will need temporary shelter, as well as a means to do laundry, feed your family, and carry out other tasks without the use of your kitchen or laundry room. Coverage D on your home insurance can help pay for additional necessary living expenses while your home is repaired or rebuilt.
Coverage E – Liability
Lawsuits can happen to anyone, including well-meaning people who are cautious and safety-minded. Whether your dog attacks a child in your neighborhood or a guest nearly drowns while swimming in your pool, make sure you are safeguarded against litigation with extensive homeowners liability protection. This coverage can help pay your legal bills if you are sued, as well as victim medical bills, judgments, and settlements if you are at-fault. Choose high limits for your liability insurance whenever possible, as you may be responsible for any excess damages that exceed the limits of your coverage. We also recommend talking with your agent about umbrella insurance, which can supplement your liability protection with extra coverage in the event of a major lawsuit that exhausts the limits of your primary homeowners coverage.
Coverage F – Medical Payments
When guests are injured in your home, medical payments coverage helps assure they get the medical care they need right away. This coverage is no-fault protection, meaning you do not have to be responsible for the injury to file a claim. Instead, injured parties can receive compensation for necessary medical expenses up to the limits of your coverage, which is likely to be no more than a few thousand dollars. Though it does not replace potential liability, it may be enough to cover a health insurance deductible or emergency room co-pay and perhaps even deter a lawsuit.
Wisconsin Home Insurance Quotes
If you are a homeowner in the greater Elkhorn area, let Henricks-Wilging Insurance help you find the coverage you need. We are an independent agency working for our customers – not the insurance companies. We can shop and compare coverage and rates to help you maximize the value of your policy. We understand home insurance and the types of discounts available to customers who meet certain eligibility criteria. We may be able to help you increase your savings if you:
- Have a new roof
- Have a centrally monitored home security system
- Purchase home and car insurance with the same carrier
- Have no history of recent home insurance claims
- Choose a high deductible
- And more
To find out more about Wisconsin home insurance or to request your free quotes, contact our office today. We look forward to serving you soon.
