Owning a home comes with responsibility, and being a wise homeowner means preparing yourself to face financial risk confidently. The agents at Waymon Lynch & Associates, Inc. are here to help you look after what’s yours.

Home Insurance and Its Coverages

Home insurance is a contractual policy offering financial protection against loss or damage to your home and belongings. This policy may help you recover from unexpected financial events, reducing the risk of incurring substantial out-of-pocket expenses.

A basic home insurance policy may include the following coverages:

• Personal liability coverage may help pay for third-party injuries or property damage caused by you or other listed parties on your policy. It may also help cover guest injuries that occur on your property.

• Personal property coverage may help cover the cost of repairing or replacing belongings like furniture and electronics from damage or theft.

• Additional living expenses coverage may help cover temporary living costs if your home is uninhabitable due to a covered peril.

• Dwelling coverage may help pay for repairs or rebuilding of your home’s structure following a covered loss.
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The 80% Rule in Homeowners Insurance

The 80% rule in home insurance states that a homeowner is encouraged to insure their property for at least 80% of its replacement cost to receive full reimbursement for a covered loss. If the coverage is less than such, the insurance company will only pay a proportionate amount of the claim. This rule helps homeowners maintain adequate coverage to avoid significant out-of-pocket expenses in case of substantial damage.

Where Can I Get Home Insurance?

You can get home insurance by contacting Waymon Lynch & Associates, Inc., which offers tailored policies to meet your needs. Our team of experts can be found at Hyattsville, Maryland, and Washington, DC, & Newnan, Georgia, ready to serve and offer you our best coverage options.