Homeowners Insurance is a form of property insurance designed to protect homeowners from financial losses and liabilities associated with owning a home. It typically provides coverage for damage to the home itself, personal belongings, liability for accidents on the property, and additional living expenses if the home becomes uninhabitable due to covered perils.
Here’s why homeowners insurance is important:
In summary, homeowners insurance is essential for protecting one of the most significant investments many people make in their lifetime—their home. By providing coverage for property damage, personal belongings, liability risks, and additional living expenses, homeowners insurance helps homeowners safeguard their financial security and peace of mind.
Don’t hesitate to contact Murphy Insurance at 800 222 8711 or submit an inquiry via our Contact Us form to learn about our Homeowners Insurance.
Fire is the primary cause of property loss annually in the U.S., with nearly 500,000 structure fires reported, amounting to around $10 billion in property damage. This peril claims thousands of American lives yearly and inflicts over 15,000 injuries.
Governor Deval Patrick has swiftly approved House Bill No. H-3783, known as “An Act Relative to Flood Insurance” (Chapter 177 of the Acts of 2014). This new law, effective immediately, bars creditors from mandating certain types of flood insurance for residential property purchasers or owners.
Amid Hurricane Arthur affecting the Atlantic coast, New England residents can find solace in forecasts suggesting the storm will remain offshore, potentially limiting damage to Fourth of July festivities. However, it’s crucial to remember to update insurance coverage well before an approaching hurricane, as insurance companies typically restrict changes to property coverage limits when a storm is imminent.
Reduce the risk of home burglary with these effective prevention strategies. From installing motion-sensing lights to investing in a monitored burglar alarm system, taking proactive measures can significantly deter intruders and safeguard your property and peace of mind.
Thanksgiving brings joy but also heightened kitchen risks. The U.S. Consumer Product Safety Commission warns that cooking fires triple on Thanksgiving, emphasizing the need for vigilance and safety measures like staying present while cooking and keeping fire extinguishers handy.
Thanksgiving is the peak day for home cooking fires—more than triple the daily average. Stay safe by never leaving cooking unattended, keeping children away from hot surfaces, and having smoke alarms and a fire escape plan in place.
Hurricane Sandy struck the East Coast on October 29, 2012, causing widespread devastation. A year later, coastal communities were still grappling with the aftermath, with many families and businesses facing ongoing challenges in rebuilding and financial recovery.
As of October 1, 2013, changes to the National Flood Insurance Program (NFIP) under the Biggert-Waters Flood Insurance Reform Act are being phased in. These reforms aim to make the program more financially stable by phasing out subsidized rates and aligning premiums with actual flood risk. Not all policyholders will be affected immediately, but rate increases—especially on secondary homes, businesses, and repeatedly flooded properties—are underway. Be informed and prepared if you own property in a flood-prone area.
In recent years, homeowners have grappled with soaring insurance costs and challenges in obtaining coverage, especially those with multiple claims. Yet, by implementing preventive measures, homeowners can mitigate future risks, making insurance more accessible and affordable.
With the threat of an active hurricane season looming, now is the time to review your insurance coverage and prepare your property. Don’t wait until a storm is imminent—protect your home or business from wind and flood damage before it’s too late.