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Your home is probably one of the largest investments you’ll ever make in your life, and a home insurance policy policy is the best way to make sure it’s protected. However, it’s not enough to just have a home insurance policy – you also have to understand what it entails. Here are some terms relating to home insurance that you should familiarize yourself with:


Home Insurance• Deductible — Your deductible refers to the amount you have to pay out of your own pocket before your insurance kicks in. The higher your deductible is, the lower your annual premiums will be.
• Liability Coverage — If someone is hurt on your property, liability coverage takes care of their medical bills and your legal bills if a lawsuit is filed against you.
• Personal Property — Sometimes referred to as the contents of your home, your personal property includes any tangible items you own.
• Premium — This is what you are charged for home insurance either on a monthly or yearly basis.
• Replacement Cost — When your policy includes replacement cost coverage, your insurance takes care of the full cost of replacing your personal property and your actual home up to a certain amount.
• Actual Cash Value — When you have an actual cash value policy, your insurance will give you the current cash value of your belongings, while accounting for depreciation.

When it comes to home insurance, knowledge is power. At Wise Insurance Agency, LLC, we’re here to help you understand the terms of your policy, so you’re fully able to protect the investment you’ve made in your home.

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