Having the right homeowners insurance is an important part of your overall financial plan. At Batesburg Insurance Agency, we want to make this process easy and stress-free. Part of that means explaining some of the terms that are commonly used in a home insurance policy. Check out this list from our home insurance agency:

  1. Premium – A premium is the price you’ll pay for your homeowners insurance. Depending on the policy, you’ll pay this price monthly or once a year.
  2. Deductible – A deductible is the amount you’ll have to pay out of your pocket before your insurance picks up the tab. If you have a high deductible, you’ll have a lower premium.
  3. Liability Coverage – This will cover any medical or legal bills that can arise if someone is injured on your property due to negligence.
  4. Replacement Cost – Should something happen to your home and cause destruction of your property, this part of your policy will help you replace your home. Always make sure you pay for enough insurance to cover today’s replacement costs, not those from when you bought your home.
  5. Actual Cash Value – An actual cash value policy gives you the current cash value of your property should anything need to be replaced.
  6. Riders – These are add-on policies that cover specific items of your property that require extra protection. These items can include and are not limited to personal or purchased artwork, treasured antiques, and precious jewelry. These riders will cover any damage or loss of items that have a higher value. (It’s important to note that your regular policy may not cover these items, so riders are necessary.)

If you’re interested in finding a homeowners insurance policy, please download our quote request form. Our independent insurance agents will give you a homeowners insurance review and will help you find the best coverage at the best price. Batesburg Insurance Agency insures property in Columbia, West Columbia, Chapin, Batesburg, Leesville, Lexington, Irmo, Saluda, and surrounding areas of the South Carolina Midlands. Let our home insurance agency protect your biggest investment – your home.