Here at Wayne Realty & Insurance Co Inc, serving the greater Goldsboro, NC area, we get a lot of questions about property insurance. Property insurance is not a term that many people are familiar with. However, property insurance is a lot like home insurance. Once people hear this, they often wonder how property insurance differs from home insurance. Read on to learn more about some of these differences.
How Does Property Insurance Differ From Homeowners Insurance?
Homeowners insurance is designed to protect your home. In some cases, it may protect other buildings on a property, such as a garage or a shed, but it does not always protect all buildings on a property. On the other hand, property insurance is designed to protect all buildings on a piece of property. This may include farms that have storage sheds, barns, silos, and a farmhouse or may consist of homes that have pool homes or mother-in-law homes on the same property.
What Types of Buildings Can Be Insured By Property Insurance?
Property insurance is designed to cover multiple buildings that are on one property. Many different types of buildings can be covered, including homes, cabins, pool homes, sheds, storage buildings, barns, and garages. If a structure is built to code and has the proper building permits, it can be covered with a property insurance policy.
As a property or homeowner, you need to ensure that you have the right insurance at all times to protect the investment you have made in land and buildings on that land. At Wayne Realty & Insurance Co Inc, serving the greater Goldsboro, NC area, our team of insurance agents work hard to answer questions and help clients find the right insurance product for their needs. Reach out to us today to discuss your insurance needs and how we can help.