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08/09/2021
If you want to keep your property strong for years to come, you need to protect it with insurance. Read more about the insurance your property needs in this post by Walker & Frick Construction Co. in Richmond, VA.

Acquiring a property entails a pretty big financial investment, one that you surely don't want to lose any time soon. That's why you need to do your best to keep your investment protected so you can keep it strong for many years to come. One way to do this is to provide regular maintenance so that your property can remain safe, pretty, and functional for longer. Another way to protect it is to purchase insurance for it, as it will cover you financially in case your property needs it. To learn more about the different types of insurance you should get to keep your property protected, continue reading the post below.

If you need assistance to keep your property physically strong, call Walker & Frick Construction Co. at 804 282 1281 for property restoration in Richmond, VA.

Types of Insurance for Your Property

Homeowner's Insurance

First of all, you will need homeowner's insurance, which is the most basic insurance of all. Depending on your coverage, this one will give you the financial backup you need in case your property suffers through a natural disaster, is burglarized, requires certain repairs, and other issues. Homeowner's insurance will have your back to deal with the financial aspect of this stressful and difficult time. Once again, however, what you'll be covered for and how much money you will be covered with will depend a lot on the agreement you came to with the insurance broker, so seek more information on that.

Call Walker & Frick Construction Co. at 804 282 1281 if you need a free estimate on professional property restoration in Richmond, VA, to keep your home in top shape.

Flood Insurance

If your property is in an area that has been known to experience flash floods (like some parts of Richmond, VA have), you may also need to purchase flood insurance for your property to guarantee that it is completely protected in case they happen. On some occasions, floods will be covered by homeowner's insurance. Still, additional flood insurance may be necessary. This way, you will be able to get your property back on its feet, even if water damage, mold, and other issues take a toll on your belongings and your property's structure. As stated, it's recommended that you look into what your homeowner's insurance covers before deciding if you need flood insurance.

Title Insurance

Unfortunately, burglaries, natural disasters, flash floods, and other similar issues aren't the only things that can put your property's integrity and your financial investment in peril. There can also be irregularities hiding in the property's title that can jeopardize your claim on it. That's where title insurance comes in. It is in charge of covering you financially in case there are mistakes, forgery, undisclosed heirs, and other irregularities in the property's records. This type of insurance is especially important when you're dealing with a property with a long ownership history. Needless to say, you don't want to go without title insurance, as you could completely lose your property and investment if you don't have it.

If your home has suffered water, smoke, or fire damage, call Walker & Frick Construction Co. at 804 282 1281 for professional property restoration in Richmond, VA.

Home Warranty

So, let's say that you invest in a property, and you purchase homeowner's insurance, flood insurance, and title insurance for it. You'd think you'd be completely covered on all fronts, right? However, you may still want to get a home warranty. This is a yearly contract that will cover you if there are issues with the appliances and systems in your home (say, if the heating system doesn't work or if your refrigerator stops cooling). The home warranty will allow you to repair or replace those items without a big financial burden.

Emergency Fund

Last but not least, even though this isn't insurance for your property, you should still have some money saved up and put into an emergency fund. This one will soften the financial blow in case there's an unforeseen circumstance that you need to take care of. For example, it can come in handy if one of your family members needs medical attention or if your home requires restoration that isn't covered with the insurances mentioned above. Having an emergency fund is just good sense.

Make sure you also keep your home physically strong to protect your investment. Call Walker & Frick Construction Co. at 804 282 1281 for professional property restoration in Richmond, VA.