Category: Home Insurance

Did you know that there are options for home insurance in Byram, MS? Many people simply go with what is first offered without having any knowledge about customizing a policy.

First, it’s essential to know that your home policy covers a few things:

• The home
• Other buildings on your property
• Your personal belongings
• Liability coverage
• Loss of use

At Riverside Insurance Agency Inc., we’re here to ensure you’ve explored all of the coverage options and have a policy that’s built to your specifications and within your budget.

Explore the Coverage Options

There are a few ways to get coverage on your home. Consider whether you want coverage based on the actual cost of the home, the replacement cost, or an extended replacement cost. If your house were to be destroyed, the coverage could matter significantly.

Additionally, you’ll want to look at the values associated with liability, such as if someone gets hurt on your property or if someone in your household damages someone else’s property.

If you have many high-value items, you may also want to increase the coverage on your personal belongings.

Working with an agent can help you cover the various “what if” scenarios.

Look at Deductibles

The deductible on your insurance policy can vary. This is the out-of-pocket expense you pay before the insurance company covers the rest.

Having a smaller deductible can make it easier for you to file a claim, but it can also lead to higher premiums. This is why you’ll want to weigh the risks of what could happen and also get quotes with a few different deductibles. It allows you to make an intelligent choice about your policy.

Be sure that you have home insurance coverage in Byram, MS, that truly offers you peace of mind. Call Riverside Insurance Agency so that our expert agents can help you with the details.

Like all things in life, your home insurance needs to change. You may require more coverage than you did previously. Reviewing your policy is something you should do at least yearly. At Riverside Insurance Agency Inc., we have been serving the residents of Byram, MS and the surrounding area for more than 20 years. 

When To Review Your Home Policy

When your policy renews

Most home policies are renewed yearly. When you receive your new policy, that is the best time to review your home coverage. The front page of your policy documents is the declaration page. This is a synopsis of your policy. You can see your property coverage, your liability coverage, your deductible, and any endorsement or discounts you have. If you have noticed an increase from last year, you might want to dig out your last year’s declaration page to review where the increase is coming from. 

You add something that increases your liability

If you install a swimming pool or a trampoline, or get a dog, you should increase the amount of liability insurance you have. You can add it to your home policy or just get an umbrella policy that will increase your liability coverage across the board on all your policies. 

You make major upgrades to your home

If you have increased the square footage of your home by finishing a basement or adding a room or a new bathroom, this may increase the value of your home, and you should let your insurance agent know about it. 

You add new safety equipment

If you have added a home security system to your home or installed a wired smoke detector, you may be eligible for a discount on your policy. 

We Are Here To Help

Contact Riverside Insurance Agency Inc. in Byram, MS when it is time to renew your home insurance. 

One of the most important decisions you will make when purchasing insurance is how much coverage to buy. This decision can be difficult, especially if you are unfamiliar with insurance terminology. Riverside Insurance Agency Inc. in Byram, MS is here to help you navigate this important insurance coverage.

How Much Coverage Do You Need?

Many people ask the question, "How much insurance do I need?" The answer to this question is not always a simple one. There are many factors to consider when determining how much coverage you need. Some of these factors include:

• Your age
• The type of home you live in
• Your family’s needs
• Your assets
• Your income
• Your lifestyle

At Riverside Insurance Agency Inc. in Byram MS, we understand that everyone’s insurance needs are different. We will work with you to determine the best coverage for your unique situation.

Determining Your Coverage Needs

There are a few different ways to determine how much coverage you need. One way is to use the 80/20 rule. This rule states that you should carry insurance that covers 80% of the value of your home and possessions. For example, if your home is valued at $100,000, you would need insurance that covers $80,000.

Another way to determine your coverage needs is to use the replacement cost method. This method takes into account the current value of your belongings, not their original price. For example, if you purchased a television for $500 five years ago, it would be worth much less today. The replacement cost method would insure your television for its current value, not its original price.

Determining the Amount of Coverage You Need

If you have any questions about your insurance needs, Riverside Insurance Agency Inc. in Byram, MS is here to help. Give us a call or come by our office today, and we’ll be happy to answer any of your questions.

Some entrepreneurs often run their business operations at home. A home business can be a profitable venture and rewarding experience in Byram MS. However, just like any business entity, your home enterprise requires formidable protection from unforeseen events that can culminate in massive financial ruins. Connect with our charismatic agents at Riverside Insurance Agency Inc., serving Byram, MS and its environs today. Acquiring spectacular insurance will give your home business a chance to thrive.

Does home insurance cover business property?

A standard home insurance coverage might offer limited protection for business property that is stored in your dwelling. Regrettably, not every home insurance policy provides coverage for a business property; nevertheless, even if yours does, protection may not be sufficient to safeguard it.

If you are operating a home-based business, you require adequate protection for business property stored in your home. Therefore, it’s paramount to consider additional coverages depending on your business needs. These additional coverages include:

Optional business property coverage

You may be able to buy additional coverage in Byram MS to enhance the protection of home insurance provided for your business supplies. The addition of these policies may extend coverage to inventory such as cosmetic or kitchen supplies stored in your dwelling temporarily waiting to be delivered to your customers. However, it’s crucial to understand that you are likely to submit your deductibles before getting the insurance benefits of covering any prevailing loss.

In-home-based business coverage

This form of coverage is designed to offer broader protection than a home insurance plan can offer. In addition to safeguarding your business property, it might provide liability coverage and compensation for lost income if you can’t operate your business after your home gets ravaged by a covered loss. This policy also covers business materials stored in a detached structure like a shed.

Business owners policy

In addition to providing coverage for business property and lost wages, it’s broader than an in-home-based business policy. For example, it might also provide liability coverage for business property located elsewhere.

Do you have any queries about what home insurance covers and want discussions on how you can obtain additional coverage to boost home insurance to safeguard your home business in Byram, MS? Then, please call or visit our Riverside Insurance Agency Inc. offices today?.