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.
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.
Sandy’s impact was devastating, with flood waters inflicting the most severe damage. Standard insurance policies typically don’t cover flood-related losses, necessitating a separate flood insurance policy. Despite the risk, many opt out due to cost concerns or underestimation of the potential threat.
Maintaining your home properly can help prevent future insurance claims and lower your premiums. Simple actions like replacing worn-out washing machine hoses, repairing water leaks promptly, and installing automatic water shut-off systems can make a big difference. Regular roof inspections and choosing durable materials can also protect your home and reduce long-term risks.
After Hurricane Sandy passes, it’ll be crucial to assess the damage. To streamline the claims process for property or vehicle damage caused by the storm, consider implementing these helpful tips.
This time last year, the Northeast endured the aftermath of Hurricane Irene and an unexpected October snowstorm wreaking havoc in Massachusetts, resulting in extensive damage including downed trees and prolonged power outages.
As hurricane season reaches its peak, many homeowners still lack flood insurance—leaving them vulnerable to costly storm surges and flood damage. Since standard policies don’t cover flooding, now is the time to secure separate flood insurance before the next storm hits.
Running from June through November, the Atlantic hurricane season is expected to bring 9 to 15 named storms, according to NOAA. Even if you’re not on the coast, high winds and flooding can cause serious damage inland. Now is the time to review your emergency plans and confirm you have the right insurance coverage—including flood and business interruption protection—before a storm is on the radar.