New Bedford Homeowners Insurance: How to Protect What You Own

In the midst of hurricane season and preparation for our extreme winter weather in New England, we hear and think a lot about families who have lost their homes. MA homeowners insurance is designed to protect your investment, providing a means to rebuild and recover after a significant loss. The best way to protect what you own is to work closely with your New Bedford insurance agent at Borden Insurance. Since 1909 we have proudly served the SouthCoast communities, offering home, auto, and business insurance to our customers and neighbors. Home insurance in New Bedford isn’t rocket science. The goal should be to ensure that you have comprehensive insurance solutions designed to protect the things that you value most in life.

Contact Your New Bedford Insurance Agent

The first thing you should do is contact your agent to discuss your needs and current policy coverage for MA homeowners insurance. It is better to know now how much coverage you have than to find out when it’s already “too late” that you didn’t have enough. You should meet with your New Bedford insurance agent at least once a year and whenever you make significant home improvements that should be included in with your policy. A brand new roof, updated kitchen countertops and cabinetry, brand new flooring throughout – these are all things that should be covered by your home insurance in New Bedford, but if your policy doesn’t include these updates, you might not be.

Studies show that nearly two-thirds of American homeowners are underinsured. What that means is that if they were to suffer a complete loss in a storm or fire, they might not have enough insurance to cover the cost of rebuilding their home. The minimum amount of insurance that is required by your lender and the law is designed to protect the mortgage company, not the homeowner. Homes can appreciate in value over time, so if you are covered for the amount of money that you owed the lender ten or twenty years ago, the chances are good that you don’t have enough coverage to protect your investment now. For a comprehensive audit of the value of your home and the cost to replace it entirely, consider consulting with a professional home-replacement cost estimator.

Other things you can do to ensure that you have adequate coverage include:

• include any additional insurance for special features that you would want to replace in your home, such as custom woodworking or high-value appliances
• ask your New Bedford insurance agent about getting an “automatic inflation provision” included with your policy to avoid having to recalculate home values every single year
• find out if extended replacement coverage is available in your area, which would provide for up to 125 percent of your policy limit to give you the funds you need to rebuild your home
• consider guaranteed replacement cost coverage for your MA homeowners insurance policy to ensure that the insurance company will pay to rebuild your home regardless of the cost to do so in the future
• take an inventory of your valuables and other possessions, including art, antiques, jewelry, tech equipment, and other high-value items to make sure you are covered for their replacement as well

What About Flood Insurance?

A lot of homeowners assume that they have flood insurance as part of their standard New Bedford homeowners insurance. However, this coverage is something that you have to purchase separately. While you might be required to get it by your lender if you live near a body of water, you need to understand that even people who live in the middle of the desert are at risk for flooding in the right conditions. Inland areas are just as susceptible to flooding from groundwater, seasonal storms, or other situations in their local communities. Flood insurance is part of a federal program that accepts every homeowner who wants the coverage.

Whether you are in a high-risk area or not, speak with your New Bedford insurance agent to find out of you can get flood insurance through their local agency. If not, ask for a referral to a third-party source that can meet your needs. You should also ask about getting coverage for mold and sewage backups, both of which are not typically covered under the average MA homeowners insurance policy. The best course of action is to assess your risks based on your location, the age of your home, and other relevant factors, to determine if you should invest in additional coverage for home insurance in New Bedford and the surrounding area.

Call Borden Insurance

If you would like to get a FREE quote for MA homeowners insurance, contact us today at 508-999-3636 and speak with one of our friendly and knowledgeable agents. We have a wide range of policy options for New Bedford homeowners insurance and can answer any questions that you might have about coverage in the local area. Call today and see why so many homeowners in the Greater New Bedford area trust Borden Insurance to protect their homes with comprehensive homeowners insurance.