Long Island has a competitive real estate market. Not only is the area home to New York City’s suburbs, but it’s also the location of pristine vacation spots. Whether you are looking to buy a family home, vacation property or your first place, you’ll need to invest in homeowners insurance. It’s there to protect you, your family and property value from many types of potential losses.

At Lupton & Luce Insurance, we fully understand how much security the right homeowners insurance can provide. That’s why we’ll work personally with you to design a policy that offers you fully optimized protection in case of any eventuality. Call us at (631) 727-4114 or request your free policy quote now!

Common Homeowners Insurance Questions

What Does Home Insurance Cover?

Think of how much of your net worth and lifestyle value is wrapped up in your house. There is the value of the home itself, and inside are your treasured possessions and your family. You want to protect them in case any type of accident or damage occurs.

Homeowners coverage is the solution that can help you do so. Once you have the right coverage, you can rest assured knowing that you have adequate protection from the costly ramifications of unexpected household losses.

What Home Insurance Do I Need?

Homeowners insurance offers many benefits that can cover various losses that might occur on your property. Most will offer the following coverage:

• Dwelling protection: Should an event like a fire, vandalism, severe weather or other hazard damage your house, this coverage can pay to help you repair the home.
• Other structures coverage: This coverage functions like dwelling insurance. However, it pays for damage to structures that are detached from the home such as carports, fences or sheds.
• Contents insurance: Using this coverage, you can insure your belongings - including furniture, clothing, certain high-value items and electronics.
• Liability coverage: Accidents might occur on your property that harm someone else, like a neighbor. If you are legally responsible for that person’s injuries or property damage, then this coverage can pay for their losses.
• Pet bite liability coverage: Many liability policies cover scenarios where a household pet bites someone or damages their property.
• Additional expense protection: Should damage in your home cause you to have to move out temporarily, this coverage can help you cover dining bills, hotel fees or other essential costs until you can return home.
• Accidental medical payments coverage: A visitor might get hurt in your home, but their injury might not be your responsibility. However, this coverage can still help you repay that person.

Each of these policies will include their own limits and terms for how they will pay for damage:

• Dwelling protection usually pays for the home based on the replacement cost value. This is the amount of money needed to repair a home at today’s construction costs.
• Contents insurance usually pays for items based on their actual cash value. This is the used value of items at the time they sustained damage.
• Deductibles will apply to most dwelling, other structures and possessions claims. You must pay the cost of the deductible towards your repair costs before your policy will pay.

Additionally, policies might exclude damage from certain events such as floods, earthquakes or wildfires. They might also limit protection for collections, high-value items, art or expensive jewelry. However, you can increase your coverage through policy endorsements or a separate, specialized policy.

How Far In Advance Can I Buy Home Insurance?

Most of the time, you have to buy homeowners insurance before a mortgage lender will approve you for a home loan. As a result, you’ll need to have a homeowners policy in place before you can even close on your home.

What Are Typical Homeowner's Insurance Rates In New York?

New York’s average homeowners insurance is about $1,250 per year. However, your specific rate will vary based on factors like your property value, credit rating, the home’s location and the amount of coverage you buy. Your agent is happy to help you compare policies, carriers and discount opportunities to find the coverage that offers you the most affordable coverage options.