Am I Required to Have Home Insurance?

When you purchase a home in Pittsburgh, PA, there’s no question that it is an exciting time and experience. As a new homeowner, you may wonder if you really need to contact Gallina and Sons to help you purchase a homeowner’s insurance policy. Is this needed? Why should you have to pay hundreds or even thousands of dollars a year for it?

While these are good questions, there is one situation where it is required. However, even if you don’t have to have this policy – it’s still a good idea to invest in it. Keep reading to learn more.

Do You Have a Mortgage?

If you have received a loan to purchase the home you are now living in, it is often required by the lender that you have homeowner insurance. This policy will protect the investment they have made and ensure if something is damaged, broken, stolen, or some other issue arises, that it can be repaired and the lender will still have a structure that is worth its original value.

No Mortgage – No Insurance?

According to the above, you may think that if you paid cash for your home, or if you have paid off your mortgage, that you no longer need to pay for home insurance. This is not correct. The fact is if you don’t have this coverage and someone is injured on your property, if a fire occurs, or even a natural disaster, you won’t have any means to rebuild or pay expenses. This can leave you homeless. By having home insurance, you have coverage to ensure you can rebuild and that your investment is protected.

If you need to purchase home insurance, please be sure to call the professional team at Gallina and Sons, proudly serving the Pittsburgh, PA area today.

How to Change Home Insurance

Home insurance is something that is very important and with the right information you can get a policy that is going to work for you in the most beneficial way possible. Knowing how to switch your coverage or change it is one of the best ways you can be sure you are getting the most out of your policy. For those in the Pittsburgh, PA area, the agents with Gallina and Sons can help you find the home policy that works best for you.

Changing your Home Insurance Coverage

Home insurance is something that is very important, and the right coverage is essential to make sure your home is protected from any issue that you may come up against. The proper coverage can mean the difference between being able to rebuild or move after your home is destroyed and can mean the difference between being able to carry on and financial ruin. Switching home insurance coverage is not as difficult as you imagine.

Taking the time to talk with an agent at a local insurance agency is the best way to know how to go about changing your home insurance coverage. You are going to need to first initiate the change by contacting the agent or new agency you want to have your home insured with. You then need to have an adjuster visit your home to see how much it is worth and how much it should be insured for. You can then talk with an agent to find out what policy is going to work best for you and what coverage you need.

For those in the Pittsburgh, PA area, the agents with Gallina and Sons can help you to find the coverage you need and the coverage that is going to keep your home safe from any disaster that might strike and destroy your home. Contact our agents for more information.

How to Organize Home Improvement Projects

Homeownership in Pittsburgh, PA is a never-ending battle. It’s you versus the infinite list of things you want and need to do to the home. Before you pull your hair out of your skull, Gallina and Sons have a few tips to help you create a project hierarchy that will help you stay productive and satisfied with your efforts.

Priorities

Many experts talk about prioritizing projects that add the most value to the home. While there’s merit to that approach, it might not be the best starting point. You can worry about cost and value before you commit, but usually, it’s better to prioritize the things that matter most to you on a personal level. Put things that bother you at the top of the list (as opposed to things you really want). Fixing the squeaky door often grants more peace of mind than building the new deck or outdoor fireplace. The projects that add the most value to your daily life are often less ambitious, and they’ll keep you motivated to move on to the next.

Cost vs. Value

Still, comparing cost and value is a good way to pick between projects when other methods fail. There are plenty of tools to help you estimate what kind of return you’ll get for your spending, and it can help you make informed decisions.

Timing Is Everything

The most valuable resource for DIY projects is time. Here’s a rule to help you determine whether or not you should start a project. Estimate how long you think it will take, and then triple it. If you don’t have the time to handle unexpected problems that arise, then maybe it should wait until later. This doesn’t apply to emergency projects that are necessary to keep the house functioning and safe (like plumbing issues), but it can help you organize your more ambitious ideas.

Since you’re doing so much with your Pittsburgh, PA home, there’s one thing to remember. Changes to your home can, on occasion, necessitate changes to your insurance policy. Be sure to check in with your Gallina and Sons agent every once in a while to ensure you still have the best plan.

Who Requires Home Insurance?

Buying a home is a very big decision and an important investment that needs to be taken seriously. When buying a home, one of the factors that you will need to consider is whether or not you are required to have home insurance and what the requirements are. For those that are in the Pittsburgh, PA area, there are several different parties that may require you to carry home insurance on your property.

Mortgage Lender

If you are taking out a mortgage to finance the purchase of your home, you will be required to carry home insurance to protect the property. The mortgage lender will typically require that you carry a property insurance policy that will at least cover the outstanding balance of the mortgage. The mortgage lender will also require that they are a named insured party on the insurance policy and that you escrow the payments each month.  

Association

If your home is part of a larger homeowners association, you may be required to carry property insurance under the bylaws. The homeowners association bylaws will typically have minimum requirements in place for how much property and liability insurance you will be required to have. The association may also require that you provide them with evidence of insurance coverage on an annual basis.  

Homeowners that are in the Pittsburgh, PA may find that it is hard to choose the right home insurance policy. For those that are struggling to pick the right policy, talking with Gallina and Sons could be a great option. Gallina and Sons is a leading consumer insurance provider that could help you to better understand your home insurance needs and help you to get into a policy that provides you with the right level of coverage at a great rate.  

What Are the Components of a Basic Home Insurance Policy in the State of Pennsylvania

Gallina and Sons provides insurance policy solutions for the people of Pittsburgh, PA, and the surrounding areas. Our trained professionals understand what the complexities of home insurance are in order for you to be compliant with the state and local mandates.

Basic Home Insurance Policies In Pennsylvania:

Pennsylvania is one of the states in the U.S. that does not require a homeowner’s insurance policy. That being said it doesn’t mean it is a good idea not to have one. Many mortgage lenders require you have a policy in order to secure a loan.

As a result of the fact that it is not required in the state, what is covered on a strictly basic level of insurance is your home, you, and your family’s personal belongings. Home Insurance brokers in the state have standard home insurance lines of products that can be similarly found across the country, such as: 

  • Medical Expense Coverage – in the event you cause injury to someone, their medical bills are covered
  • Alternative Living Expenses – if you must find another place to live while your home is being fixed due to a covered event, this arm of the policy will cover your expenses and accommodations
  • Property Coverage – in addition to the protection of your home, this coverage will protect other structures on your property (shed or garage) 

As a result of the lack of mandate, buying insurance can be more complex.

Gallina and Sons provide one-on-one consultations to those in Pittsburg, PA, and the surrounding areas so that residents will learn what is needed to protect vulnerabilities in various aspects of life. Come in or call today to speak with an agent and learn how to better protect your assets. For quotes, try our online rating tool for auto and home insurance.