W.B. Adams Company

14737 SW Millikan Way
Beaverton, OR 97003

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What Are the Benefits of Home Insurance?

Nothing beats the coziness of your own home. And if you are like most people, it’s probably your most valuable investment. But have you done enough to protect it? There is more to just locking the doors. Home insurance is ideal for securing your home.

Are you a homeowner and haven’t thought much about home insurance? Well, keep reading the article. You will be excited to call us at W.B. Adams Company in Beaverton, OR, for your home insurance. Here are the top benefits a home insurance policy can offer.

Protects your main dwelling

The primary purpose of home insurance is to protect where you live, which is your principal dwelling. Imagine losing your entire home to fire, for example. How much, and how long would it cost you to rebuild another one? That’s why home insurance is essential as it covers minor, significant damages and even rebuilding in case of a total loss. 

Liability coverage

If someone got injured on your premises, it could cost you thousands of dollars in medical bills and perhaps lawsuits if you got sued. However, home insurance pays for the medical bills and the expensive lawsuits up to your coverage limit. 

Protects your home’s contents

Besides covering your principal dwelling, the insurance covers your assets, like electronics, furniture, and clothing, from perils like fire, theft, and many more. 

Loss of use compensation

If you are forced out of your home while it’s undergoing repairs due to a covered event, the policy can put you in a hotel or temporary living place and cover your expenses. 

Protects your detached structures

Imagine a policy securing your garage, fences, pets’ house, sheds, or whatever structure you have on your premises. Intriguing, right? Well, that’s what home insurance can do, but at an additional premium. 

Home insurance in Beaverton, OR

If you haven’t thought about home insurance, the above benefits are enough to make you consider purchasing one. Are you in Beaverton, OR looking for home insurance? Look no further than W.B. Adams Company. Call us today for an affordable quote.

Three things to do before you purchase a home insurance policy in Oregon

Home insurance is an important product for homeowners to have. It would help if you chose the right policy to protect the value of your home. At W.B. Adams Company, we offer home insurance policies to homeowners in Beaverton, OR.

The following are three things you should do before you purchase a home insurance policy in Oregon.

Calculate your coverage needs

Homeowners need different coverage amounts depending on factors like the value of their home and their total assets.

You want to have enough coverage to cover the total value of your home in the event of a severe accident that destroys your property. You also need to protect your assets in the event of a liability lawsuit related to your home. 

Get quotes from at least three different providers.

You definitely don’t want to look into home insurance from only one provider. It’s important to get quotes from a few different providers so that you can compare them.

When you compare quotes from various providers, you can select the one that offers the best value. Shopping around is essential when you purchase any product. Remember that home insurance is no different. 

Factor your premium into your budget

Your home insurance premium is an ongoing expense that you need to pay every month. Making a late payment can leave you subject to expensive fees. Completely missing your payment could void your policy, leaving you susceptible to severe financial losses in the event of an accident.

The best thing to do is escrow your insurance payment with your mortgage to be sure that you won’t miss a payment. 

Get in touch with us today at W.B. Adams Company to learn more about home insurance shopping. We’re here to assist Beaverton, OR homeowners with all their insurance needs.

Does home insurance cover sublets?

You may think that subletting your home is a good way to make money when you are out of town. Most standard home insurance plans, however, do not cover short-term rentals. It is important to make certain that you have the right indemnity policy before handing over the keys of your Beaverton, OR home for the next few weeks. The agents at W.B. Adams Company can help you find the right plan. 

What counts as subletting?

Some homeowners consider traditional means of subletting, which include soliciting complete strangers to live in their homes while they are away on vacation or business, as the only means of short-term renting. There are other means of subletting, though, which may not appear as short-term rental agreements at first glance. 

Renting a room in your home is technically subletting since the individual is paying to use space at your residence. Airbnb rentals are also sublet agreements. 

The problem with subletting while uninsured

Some homeowners take the risk of entering short-term rental agreements while lacking proper insurance to do so. The consequences of such actions can be detrimental if the renter’s property is damaged on your property or if he is injured while at your residence. 

Most home insurance providers will not pay for damages and injuries sustained by the renter if you have a standard policy. Some indemnity companies may even view you as a higher risk because of the short-term rental agreement and move to terminate your policy altogether. 

What type of insurance do you need to sublet in Oregon?

Vacation rental insurance is ideal when you want to sublet your home in any capacity. You may even want to consider tenant insurance if you enter short-term agreements on a continuous basis. 

The agents at W.B. Adams Company in Beaverton, OR can help you find the sublet insurance solution to fit your needs. Call us today to get started with a quote on home insurance!