One of the most popular destinations for second home buyers, Green Valley, Arizona is known for its desert landscape and arid weather. Protecting your property asset and its contents from liability when you are away is easy with a homeowner’s insurance policy.
Property Investment Protection
Property investors buying a second home in Arizona will want to protect their investment. Hazard and liability insurance coverage are the minimum recommendations for second home owners. Standard homeowner insurance policies cover hazards to physical damage of property and possessions and liability associated with injury accidents of other parties on a homeowner’s property.
Damages caused by natural disaster or physical elements on a property such as electrical or plumbing systems are covered in a hazard insurance policy. Hazard insurance policies may contain exclusion clauses denying guaranteed cost replacement of damaged homeowner property, as result of major earthquakes, or flood incidence. Supplemental coverage for natural disaster risk is usually available at a higher rate. Higher rates may also apply to registered historical properties. Liability coverage is also not included in hazard policies, so that accidents taking place on the property while the owner is there, or even absent, are not compensated in a claim.
Liability insurance compensates for medical payments to others, and personal liability when someone is harmed on the premises of your property. Personal liability covers personal injury, or legal fees when an owner holding title is sued by another party injured on their property. Standard liability coverage in Arizona is $100,000 up to $1 million depending on the features and location of a home.
Homeowner insurance deductibles start at $500 and are increased depending on the type of insurance coverage.
For information about homeowners insurance, contact a broker in Green Valley, AZ.