Home Insurance

While many states have no law requiring you to obtain homeowners insurance, your bank will probably make you buy a policy if you obtain a mortgage. This protects them from the risk of something damaging or destroying your home since, technically, they own the home until you build 100 percent equity. That means when you fully pay off your mortgage, you own the house, but until then, the bank does. They're essentially letting you live there and want you to protect their money and investment.

So, you need a homeowners' policy from BlackDiamond Insurance Services. Do you want a standard policy or an enhanced one? Would you like to obtain other structures insurance, too, so you can protect buildings like your detached garage or workshop? You could add living expenses coverage to your HO insurance.

BlackDiamond Insurance Services wants you to have the homeowner's insurance coverage you need to protect your home investment. We can help you determine which of those coverage options you need. We'll also help you calculate the amount of liability insurance you require.

• Dwelling: Your policy always includes dwelling, which covers physical damage to your home when a named peril causes damage or destroys it. Named perils typically include fire, tornado, earthquake, hurricane, wind, and lightning damage.
• Personal property: Your policy also always includes personal property coverage that reimburses you for stolen or damaged clothing, appliances, and furniture.
• Other structures: You can optionally include coverage for the other structures on your property, which provides the same types of coverage as the main two components of the HO policy.
• Living expenses: You can optionally include coverage for living expenses, also called loss of use, which covers your living expenses when a named peril damages your home or destroys it. This pays for your hotel or Airbnb when you have to move to an alternate location due to the damage. This gives workers time to enter the home and make repairs. Some of these policies provide per diem for meals as well.
• Personal liability: The personal liability coverage comes in every policy. It provides for the court fees, attorney fees, and settlement if a person hurt on your property sues you. It also covers damage you cause to another person's property. This coverage type also pays the medical bills and lost wages of the injured people.
• Medical payments: Many HO policies also include medical payments that contribute to paying the injured individual's medical bills.

Contact BlackDiamond Insurance Services to obtain the right home insurance for you. This is coverage you should keep after your mortgage gets paid off, too.

While our office is located in New York, we offer our services all across the United States.