What Updates to Make to Your Insurance Before You Renew

When you renew your home insurance policy, you may think you can send in a payment or continue the same policy and plan without updates. That is the case, but it does not mean that is what you should do. There are plenty of benefits to updating your policy to ensure it better reflects your individual needs. 

At Leo Insurance Group, we work with clients throughout Las Vegas, NV, and the surrounding areas to ensure their home insurance meets their specific needs. Before you renew, there are a few things to keep in mind.

What to Update on Your Home Insurance This Year

Before you renew your home insurance policy, take a closer look at these recommendations:

  • Do you have enough content coverage? If you purchased anything of significant value in the last year, it may be valuable to upgrade your content coverage. That will make sure you have enough if there is an event like a fire. 
  • Is your policy reflective of today’s home costs and value? The cost to rebuild a home today may be more than it was when you initially established your home insurance policy. Make sure to update your coverage.
  • Did your home living arrangement change? If you added a pet, swimming pool, or other risks to your home, be sure to let your insurance agent know that. 

Home insurance is incredibly valuable when it fits your specific needs. Make sure you read through your coverage to ensure that is the case before you renew.

Let Our Independent Insurance Agent Help You

When you contact Leo Insurance Group about your home insurance in Las Vegas, NV, you will get up-to-date information and pricing to meet your current needs.

Home Insurance Myths: Debunking Common Misconceptions

As a homeowner in Las Vegas, NV, having home insurance is essential. However, many myths surrounding home insurance can lead to misunderstandings and incorrect decisions. Leo Insurance Group will debunk some of the most common home insurance myths and provide valuable information to help you make informed decisions about your coverage.

Home Insurance Myths

Myth #1: Home insurance covers all types of damage.

Fact: While home insurance covers many types of damage, such as fire, windstorm, and water damage, it does not cover everything. For instance, standard policies typically exclude damage from floods, earthquakes, and intentional acts of damage. Full coverage may require additional policies, such as flood and earthquake insurance.

Myth #2: Home insurance is too expensive.

Fact: While home insurance premiums can be costly, they are much cheaper than replacing or repairing your home after a disaster. There are ways to lower your premiums, such as increasing your deductible, bundling your policy with other insurance types, and implementing safety features in your home.

Myth #3: You only need enough coverage to cover your mortgage.

Fact: Your mortgage company may require enough insurance to cover your mortgage, but that does not necessarily mean you have sufficient coverage for your needs. You should consider your property’s actual value, replacement costs, liability coverage, and potential hazards in your area when determining how much coverage you need. Don’t underestimate the value of your possessions, as they can also be covered under your policy.

Reach Out To Us

Home insurance can provide valuable protection and peace of mind for homeowners in Las Vegas, NV. By avoiding these misconceptions and working with Leo Insurance Group, you can ensure that you have the right coverage for your needs and budget.

What You Need to Know About Home Insurance in Nevada

Home insurance is essential for Nevada homeowners. Homeowners who want to protect their homes from natural disasters and theft should get this vital coverage.  

Why Nevada Homeowners Need Home Insurance

  1. Homes damaged or destroyed by natural disasters, like an earthquake or wildfires, may qualify for government assistance to cover the cost of repairs.
  2. Homeowners subject to vandalism or theft should obtain coverage to protect against loss.
  3. Home insurance is recommended in areas with high crime rates, troubled neighborhoods, and near busy street corners to help protect against damage.

How Much Does Home Insurance Cost?

Home insurance costs vary based on the policy you select and the neighborhood where you live.

What Factors Can Affect The Cost of A Home Insurance Policy?

Home insurance policy costs vary based on a variety of factors, including the size and age of your home, the coverage you select, and where you live.

Is Home Insurance Required in Nevada?

In most cases, homeowners insurance is required by state law. If you live in an area prone to natural disasters or high crime rates, having additional coverage may be advised.

Contact us at Leo Insurance Group in Las Vegas, NV for more information about what kind of coverage is recommended for your specific situation.

Get Affordable Home Insurance Coverage in Nevada

Don’t get caught without home insurance! Finding an affordable insurance policy is as easy as contacting a trusted insurance agent. Our team of licensed insurance agents at Leo Insurance is here to help Las Vegas, NV area homeowners choose the best home insurance coverage options for their needs.

Does my home type matter when I buy home insurance?

When you purchase a home you probably know you need to also purchase home insurance for it, but which kind? Yes, more than one type of home insurance exists.

You’ll find eight types of home insurance on the market. You’d purchase a different type of policy to cover a condo than a newly built home or an RV. With respect to the latter, you’ll find two options – one if you use your RV for traveling, the other if you live in it full-time.

You must choose the right type of policy to cover your home, otherwise, if you need to make a claim, your policy won’t be valid. That’s when you need to call Leo Insurance Group serving Las Vegas, NV. We can help you determine which type of homeowner’s or renter’s policy you need and help you obtain it.

If you have bought a house, you’d either need a standard homeowners’ policy, a dwelling policy, or a homeowners’ policy that covers major perils or all perils. If you buy a historical home or architecturally significant home, you’d choose historical home coverage. You’d choose condo insurance if you purchase a condo or an apartment, but RV insurance if you purchase a fifth-wheel or RV.

Home insurance also provides an option for those who rent, called renter’s insurance. It covers just your belongings and your liability.
You might want to save as much money as possible, but home insurance is not the place to cut corners. Six major perils create the difference between major peril and all-peril coverage. Any one of them can wipe out your home.

Contact Leo Insurance Group serving Las Vegas, NV today to learn more about home insurance. Let us help you choose the ideal policy for your home.

Home insurance tips for new homeowners in Las Vegas, NV

Buying a home for the first time can be one of the most memorable moments in your life. It is usually connected to other major life decisions such as having children, getting married, or moving from a parent’s home. Apart from the lengthy paperwork, there are plenty of negotiations, inspections, and financial preparations to be done. That’s why Leo Insurance Group encourages the discussion of buying home insurance to protect your investment.  Here are a few tips to get you started and help you learn more about buying home insurance.

Do Your Homework

If you are a first time home buyer, the chances are that you are also a first time home insurance buyer. Before making any purchases, you may want to go the extra mile and conduct enough research. Familiarize yourself with your Las Vegas, NV neighborhood and know some of the most common home insurance claims in the area.

Know Your Home’s Value

Even though you might have bought the house at a lower or higher price than the market value, it is critical to know the real value of your home. You can check with an assessor or local builder who can give you an accurate home value. The last thing you want is to insure a house for more than it’s worth. Keep an updated inventory of your personal belongings to be recorded during the insurance purchase. This makes it easier to prove ownership to your insurance company when filing a claim.

Understand Your Policy

Accidents can happen anytime, and nature is sometimes unpredictable. That’s why most mother nature perils are not covered in a home insurance policy. Check what is covered in your approach and make sure it matches with your insurance needs and risks.

Don’t ignore your insurance purchase to the last minute; there is a lot more to home insurance than just signing several papers. Contact Leo Insurance Group for more tips on buying home insurance for the first time.