Home Insurance in Missouri & Surrounding States

Protect the Investment in Your Home

If there is an accident in your home, the repair bill can add up fast. Protect yourself from the stress of big repair bills with reliable insurance from David Pope Insurance Services, LLC, one of the best homeowners’ insurance companies in Missouri & the Midwest. If you need insurance from a company that doesn’t rate for weather-related claims, no problem — we can help.

No one expects an accident in or around their home, but when they happen, if you’re not prepared, the consequences can be disastrous. An unforeseen event that destroys part of your home’s structure can be expensive and force you out of your home until someone can fix it.

If you have the right homeowners’ insurance policy, you have the peace of mind of knowing you’ll have the resources to take care of yourself and your family if anything happens.

The last thing you want or expect is for someone to get injured in your home, but if it occurs and you do not have the proper coverage, the consequences can be financially devastating. David Pope Insurance Services, LLC, can find the right policies to protect you from these situations and more.

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A New Homeowners Guide to Getting Homeowners Insurance  Homeowners Insurance Infographic

Complete Guide to Homeowners Insurance

You work hard, save money and dream about owning the perfect home. Finding the ideal homeowners insurance protects that investment of time and love and covers your possessions inside the residence.

In a recent survey, researchers found there were 109,049 insurance claims for homeowners, which amounted to more than $44 billion. When a catastrophe strikes, your insurance policy is your lifeline to recovering what you’ve lost.

What Does Homeowners Insurance Cover?

Homeowners insurance covers your house, repairs, structures on your property such as sheds, and personal property such as electronics and furnishings. Depending on your policy, it may not cover “Acts of God” such as flooding, so check your policy carefully to see what is and is not included.

Every year, about one in 15 insured homeowners files a claim.

What Are Some of the Benefits of Homeowners Insurance?

Homeowners claims aren’t always related to a complete loss of a home and the belongings within. For example, a small kitchen fire may result in damage that puts you out of your house during the restoration process. Homeowners insurance covers your costs during this time, including the cost of staying in a temporary location such as a hotel.

Most insurance companies customize plans to individual needs. You can add an umbrella for things such as in-home businesses or jewelry.

You’ll also protect yourself from personal injury liability up to a set amount. If someone gets hurt on your property, insurance covers the cost of medical expenses.

How to Reduce Your Costs

First-time homebuyers often experience sticker shock at all the added costs of ownership. Fortunately, there are some simple ways to reduce the cost of homeowners insurance:

• Install a security alarm. You’ll feel a sense of safety — plus, many insurance companies offer a discount for burglar alarms.
• Quit smoking. Non-smokers often receive a discount, as the risk of accidental fire is reduced.
• Move close to a fire hydrant. If your home resides near a fire hydrant, your costs may be lower than if you aren’t.
• Choose your dog carefully. Some breeds raise your homeowners insurance. If you’re in the market for a new dog, check your policy before making a decision.
• Ditch the pool installation. A swimming pool adds very little value to your property and raises your homeowners insurance costs, besides.

Of course, you also have to love your home, your life, and your pets — so weigh the savings against your personal preferences and make the best decision for your family.

Common Challenges in Securing Insurance

There are some situations where people may find securing homeowners insurance a challenge. Vacation homes, at-home employment and criminal convictions all make finding an insurer more complicated.

Solutions include adding on a business insurance policy, taking steps toward reducing the risk of an empty home (such as adding security) and finding an insurance company who will work with your circumstances.

How Much Insurance Do You Need?

How much insurance you need is such an individual matter that it’s best left to the insurance professionals. Find a company you trust and work with your agent to figure out protection for your dwelling, belongings and person.

Homeowners Insurance Infographic

A New Homeowners Guide to Getting Homeowners Insurance

You have a lot to consider as you start the next chapter of your life as a homeowner. One of these aspects is homeowners insurance.

Homeowners insurance protects you against disasters financially. It can cover property damage or your liability for people injured on your property. You need separate insurance policies for natural disasters like flooding and earthquake damage.

Protecting yourself and your new home will help you ensure your home’s safety in many situations, and you don’t have to stress out about it.

David Pope Insurance will provide you with options and plans for your homeowners insurance. We’re one of the best homeowners’ insurance companies in Missouri. We’re a family-owned business where you come first, not the insurance provider.

Homeowners insurance is necessary for peace of mind and is an investment in the future. This might be something entirely new to you so make sure you take the time to do your research, figure out what you want to be covered in your policy and find out which policies make the most financial sense for you.

New Homeowners and Home Insurance

You will want to know more precisely how homeowners insurance can protect you and your property. As a new homeowner, you might not have considered what possible damages you would want your policy to cover.

Most of the items that homeowners insurance cover are ones that are unpredictable, but could potentially affect you in the future.

• Home Coverage: This list includes claims you can file as covered perils.
  • Fire. Insurance covers smoke and fire damage to your house.
  • Weather. If severe weather such as wind, hail, lightning, snow or ice damages your house, your insurance will take care of it. However, there are ways to make your home safer to reduce the risk of these damages.
  • Vandalism. Insurance isn’t limited to elemental damage. It also covers malicious damage, too.
  • Theft. You can cover the chance that people will steal personal property.
  • Vehicular Damage. If a vehicle damages your property, your insurance can cover it. You might be thinking about cars, but there’s also coverage for aircraft.
  • Household Systems. This covers issues that could happen with plumbing, AC, heating and electricity

• Property. Insurance can also cover detached structures on your property. Sheds, garages and fences are examples of structures you would want an insurance policy to cover.
• Personal Property. This includes furniture, appliances, clothing and electronics. If thieves steal your belongings, you have two methods to get the value of your stolen item or items back. One is reimbursement value. You receive the full amount of money to replace the items. The other method is actual cash value. You receive the amount the stolen items are worth at present. This takes into account the years you have had them. If you have particularly expensive items like artwork or fine jewelry, you could need a separate endorsement for those.
• Liability. Home liability insurance will cover visitor injuries on your property. This covers legal settlements and fees.
• Additional Living Expenses. Also known as ALE, additional living expenses covers you in case your house is damaged and you have to live somewhere else while you wait until you can move back to your house. This also covers hotel rooms and food.

• Before Getting Homeowners Insurance. It is important to have inspections, so you get a clearer idea of your house. While you are looking for insurance policies, get your house inspected to check the following:
  • Interior Systems. Have professionals check your housing systems such as plumbing, heating, cooling and electrical and make sure they’re all working and don’t show potential for future problems.
  • Exterior Parts of the House. You should have someone evaluate your windows, roofs, doors and siding. Make sure there aren’t any weak spots or show signs of distress. Also, determine that there isn’t any heat or air conditioning leaking through windows and doorways.
  • Overall Pest Issues. An inspector should check for termites or other creatures that pose a potential threat to the stability and safety of your house.

These check-ups will let you know that your house is up to date and does not have any existing or potential issues. Then you can get your house appraised. Keeping the appraisal in mind, you can begin to look for home insurance.

What Are the Benefits of Homeowners Insurance?

Homeowners insurance helps you because it protects you from myriad unexpected events in the future. Whether it’s from weather damage, theft, legal situations or covering your expenses to live somewhere else until you can move back to your house.

You might want to invest in specific policies for coverage depending on where you live. If your area is prone to bad winter storms, then you’d want to include snow and ice in your insurance policy.

• Personalize Your Plan. When picking your insurance coverage, you should research your area and see if there are particular kinds of coverage you need to include. We’ll work with you to find the lowest rates while still getting you homeowners insurance that will cover your needs.

Why Is Homeowners Insurance Important?

You feel secure and confident about the future when you protect yourself, your home and your belongings. You can focus on living your life as a homeowner because you’ve taken steps to protect your home in case an emergency arises.

• Safety Net. Big home repairs can get expensive. Getting insurance that covers severe damages can save your money and financial stress.
• Plan for the Future. The future is always unknown, but you won’t worry about your home or your belongings because you’ve done your research and had an insurance coverage plan that benefits you.
• Mortgage Contract. Many homeowners have a mortgage contract that probably states you must have a homeowners insurance policy. This is because the lender wants to make sure they will get their money back. Those companies will put an insurance policy on your house if you don’t have one. These might be a less affordable option. Picking out your insurance policy will help you find an affordable plan and fulfill your mortgage contract.

Do I Need Homeowners Insurance Before Closing?

If you’re a new homeowner or in the process of becoming a new homeowner, you’re probably wondering when is it the right time to get homeowners insurance.

You might have questions about getting homeowners insurance before closing on your house.

While you don’t have to purchase homeowners insurance before closing, it will probably be in your best interest.

Most people finance their new home and borrow money from the bank. It’s common for lenders to have you buy homeowners insurance before they settle on your mortgage. You’ll also most likely have to prove to the lender that you’ve paid for one year of coverage.

Why does the lender have so much say in the matter? It’s because they want you to be able to pay their money back. If you didn’t have insurance and lightning struck your house, your priority would be in fixing your house. You would most likely put your money toward repair than paying off a loan. Lenders want to avoid this conflict and protect their interests. If you have insurance, you won’t have to worry about this potentially stressful situation.

• Buying Homeowners Insurance: Up-Front Payment

Paying up front before closing excludes the premium from your closing costs, which include lender and third-party fees in addition to your down payment. Saving the premium money can help you pay off closing costs and possibly not have to break up the costs.

• Buying Homeowners Insurance at Closing

If you wait to pay at closing, you have to use money directly from your account. You’ll need a cashier’s check or wire to prove the money is yours. When you pay through closing, you can negotiate with the seller to have them pay part of your closing costs. This payment could potentially cover your insurance premium cost.

You pay for some homeowners insurance costs at closing. When there’s a loan less than 20% of the down payment, the lender can impound the homeowner’s insurance. The lender decides the number of months of homeowners insurance payments that you’ll have to make at closing. If you miss a payment in the future, then the lender can use the reserves to pay the insurance provider. One thing to note with impounding homeowners insurance is that you’ll have to pay for several months of insurance when you pay your closing costs.

How Do I Pick Homeowners Insurance?

You should set aside time to do some research about homeowners insurance. Your plan should be affordable, manageable and useful. There might be ways to bring down costs of premiums or find some discounts with some companies you didn’t know about before your research.

When researching, you should consider the following points and see if these methods could help you in the future:

• Compare Different Policies. Look at your different options for insurance policies. You can compare different rates and plans and get an idea of what kind of insurance policy you want.
• Change Your Deductible. If you raise your deductible, you can save money on your premiums.
• Know Your House Cost vs. Building Costs. While your house could potentially get struck by lightning or have wind damage, the land under your house isn’t going to have that issue. You shouldn’t include its value when you’re deciding on insurance. Including it could raise your premium.
• Use the Same Insurer for Different Policies. Having the same home and auto insurer could save you money on your premium. This might take some math to make sure you’re paying less if you have coverage when you use the same company instead of different ones.
• Protect Your House From Weather. Updating your house can save you money on premiums. Modern heating and electrical systems can reduce fire and water damage. Storm shutters and reinforced roofs hold better against high winds.
• Upgrade Your Home Security System. You can save money when you have simple household items such as smoke alarms and dead-bolt locks. Burglar alarms can also help you get discounts. Your insurer can recommend a system that you can research the cost and see what you would save on premiums.
• Look for Discounts. Search for ways you can lower the cost of your premiums. For example, retired people stay at home more often and are less likely to deal with theft. Keep an eye out for situations that apply to you and will save you money.
• Credit. Your credit record can help reduce costs if it’s good. Your credit score is better if you pay bills on time and keep the balances low. Keep an eye on your record to make sure it’s in a good place.
• Stay With the Same Insurer. Some places will give you a discount if you’ve been with the company for a long time. They could reduce your premium according to how long you’ve had a policy with them.
• Regularly Assess. Your policy should cover your home and possessions, but you don’t want to spend more than is necessary. Adjust your policy if something has lost value or you get rid of something that you have on your insurance plan so you’re not paying more than you need.

Common Questions From People Buying Home Insurance

Some other aspects affect your homeowners insurance cost that you might not have considered.

Specific items on your property can raise the insurance cost, and general homeowners insurance might not include everything you think.

• What If the House Has a Pool or Hot Tub? A pool or hot tub can be a great addition to your home, but these items will also affect your insurance. The insurance premium will be higher, and you might want to think about getting additional liability coverage.
• What Are Other Factors That Raise Insurance Prices? Trampolines are another item that will increase your insurance rate because of the injuries. According to the Huffington Post, about 300,000 people had broken bones from trampoline incidents between 2002 and 2011. Waterfront properties tend to have higher insurance rates than other properties because there’s a flood risk. Insurance also increases for old houses with old systems. Plumbing or electrical systems that haven’t been updated in a while have a higher chance of causing damage from faults in the system.

• Should I Get Insurance for Natural Disasters? Your location should help inform your decision if you’re thinking about getting flood or earthquake insurance. If homes in your area regularly flood or you’re in an area prone to earthquakes it would be a good idea to get the insurance.
• Are There Any Ways to Lower My Homeowners Insurance Cost? As you start to make your insurance plans, you can look for ways to lower the cost. You can bundle policies together like home and auto with one insurer. A new or renovated home might get you a discount. You might be able to reduce your insurance premium if you haven’t filed claims with the carrier. Improvements to your homes such as a new roof that’s fire or impact resistant could get you a discount.
• What If I Don’t Have a Lot of Credit? You can get a credit card and start to build up your credit gradually. If you use it frequently and make your payments on time, you’re your credit score will improve. Don’t open multiple accounts. This process requires time. If you don’t have time to wait and build up your credit, then you could get an auto loan that you can repay.

Financial Tips for First-Time Insurance Buyers

You need to keep a lot of things in mind when you’re choosing your insurance. You now know what to research and what to look for in your house.

These financial tips will help you plan for your insurance plan. New home buyers should keep these in mind:

• Spending Budget. Lenders base your home loans on your debt-to-income ratio. This doesn’t include utilities or taxes. Borrow a little bit less than the amount that you’re approved because you’ll have flexibility in the future for fixed expenses. You can figure out before how much you can borrow and still afford your expenses. Remember to account for possible events like maintenance or repairs.

• Credit Score. Your credit score was essential for getting your home, and it’s part of how home insurance providers determine if it’s a risk to have you as a policyholder. If you have good credit, you have a less chance of filing claims.
• Financial Options. It might be tempting to take the first insurance policy that you see. As you explore different insurance plans also compare it to places where you can get discounts or better deals.
• Risks. Look for potential risks around your home that might affect your insurance and if you can fix it. Anything from old systems to potentially leaky roofs could increase your premium price. You might be able to reduce it if you have a potentially risky feature near a safety feature. A wood stove poses a potential fire risk and could raise your premiums. But if you have it near a smoke detector you’ll know when something is wrong, which could keep your premium from increasing.

How Much Insurance Do I Need?

There isn’t a general insurance plan that everyone gets. You have to tailor it to your specific budget, house and location.

Your insurance plan should be enough to cover rebuilding your house and protecting your belongings. It might be helpful to make an inventory of your possessions and estimate a price. More expensive belongings will equate to a higher insurance price.

You can go over this plan with your insurance provider, and they will help find the right policy.

Insurance fluctuates with each person. The factors that determine your insurance plan are:

• House Location. Houses near the water or in areas with tornados are higher risks than other houses. Weather damage will raise your insurance cost.
• Age of House. Houses that have updated and safer systems have a reduced risk for an internal problem to happen.
• Credit Score. Your ability to make payments promptly makes you less of a risk for the insurance company.
• Claims History. Your personal claims history and the claims of the area can raise or possibly lower your insurance.
• Fire Safety. Your proximity to fire hydrants and the fire department both affect your insurance.
• Pets. You’ll probably need a liability policy in case your pet causes an injury.

What Should I Look for In a Good Insurance Provider?

You want to be able to trust your insurance provider and know that you’re getting the best coverage for your future.

Keep your options open and refine your plan so it provides good coverage at a price you can afford.

Ask around and research the reputations of providers you’re looking at. You can talk to family, friends and see if your insurance provider has any testimonials on their site.