Delaware is in a fairly protected area, but its proximity to the United States’ eastern seaboard leaves it exposed to potential major storms, including hurricanes. Your home is your most important possession. Protecting it with a home insurance policy helps to pay for minor and major damage. In the State of Delaware, home insurance is not a requirement. However, if you have a mortgage, your lender may require that you have full coverage on your home. Finding the coverage you need is not hard. If you shop around, you will find the right home insurance.
Comparing Delaware Home Insurance Rates
Home insurance coverage in Delaware varies. There are many factors that help determine your insurance premium. These include:
- Age of your home
- Location of your home (coastal or inland)
- Value of your home
- Number of claims in the last three years
Delaware has a diverse terrain. Homes in the low coastal areas are prone to flooding and potential hurricanes. It's a good idea to purchase flood insurance to protect your home too. You can get flood insurance from the National Flood Insurance Program.
If you are a homeowner who has had trouble getting insurance, you can get help from the Delaware FAIR Plan.
Challenges Delaware Homeowners Face
Delaware homeowners face many challenges when trying to protect their property. Weather-related issues are the biggest. Hurricanes and severe storms that produce hail, ice, and snow all threaten homes. Preparing for these weather events is key when trying to protect your investment.
During the winter, ice and snow lead to frozen pipes, downed tree branches, and other dangers that damage homes. Before winter begins, you can protect your home by cutting down loose tree branches and insulating pipes with foam to keep them from freezing. It is important to inspect your home each year so that you can find out what needs to be repaired to keep your home warm during winter.
During the spring and summer, severe thunderstorms and hurricanes occur in Delaware. Wind and hail cause weather-related damage to homes. Check your policy to make sure you have wind coverage. Home insurance policies do cover damage from hail as part of your standard coverage.
If you haven't already, create a home inventory of the valuable items in your home. These items include electronics, televisions, computers, jewelry, expensive appliances, and specialized tools. When you create a home inventory, take a picture of each item. Make a list that includes the serial number (if there is one), value, and a copy of your original purchase receipt. This home inventory can help your insurance company replace items if they are lost due to damage to the interior of your home. Remember to take this list with you if you evacuate or place it in a safety deposit box.
Frequently Asked Questions About Delaware Home Insurance
As a homeowner, you probably have many questions about your insurance coverage. Some frequently asked questions include the following.
1. Why would a home insurance policy be canceled?
Home insurance policies are canceled for a number of reasons. The number one reason is non-payment. If this happens to you, contact your insurance provider to work out a payment plan.
2. How does risk assessment work?
To assess your risk, an inspector working for the insurance company will look at your home. He or she will create a report based on the inspection and submit it to your insurance company.
3. How much does it cost to replace the contents in a home?
The cost of replacing the contents in your home depends on the personal property insurance you choose. You can either choose replacement cost coverage, which takes depreciation into account; or you can choose to receive the actual cash value.
4. Does credit affect insurance rates?
Credit can indeed affect your rate. Your insurance provider uses your credit score to help assess your risk.
How to Get Great Rates on Delaware Home Insurance
Has it been a while since you shopped for homeowner’s insurance? Is so, loyalty doesn’t always pay because prices vary from insurer to insurer. Another company may offer you a much better deal. Looking for home or renter’s insurance quotes? insuranceQuotes.com can help you find the best homeowner’s or renter’s insurance policy at the best price. Every year, we match 15 million consumers to the nation’s biggest home insurance companies, including Allstate, State Farm and Farmers.
Delaware Home Insurance Resources
Delaware Insurance Commissioner & Department of Insurance
Consumer-friendly site with links to information on all types of insurance
Delaware Insurance Laws
Delaware Title 18 Insurance Code