Owning a home is a dream come true for many. Yet owning a home also means taking on many responsibilities. Many homeowners will have to take out a mortgage from a lender, such as a bank or credit union. Typically, lenders will require that the home also be insured. Contact The Sirover Agency LLC, serving Wayne, PA and other communities, to explore home insurance options.

Here’s Why Lenders Require Home Insurance

Mortgages are typically among the more affordable loans that a person can take out. That’s due, in part, to the fact that the loan is “secured.” A secured loan is backed by collateral, meaning if the borrower stops making payments, the lender can take possession of the home.

This reduces risks for lenders. If a bank extends a mortgage loan, they know that they’ll likely be able to take control of the home. The bank will then be able to sell the home and pocket the money. The amount received could cover the balance of the loan, if not more.

Secured loans are generally less risky for lenders than unsecured loans. However, this security is heavily dependent on the value of the collateral. If an uninsured home burns down or is destroyed by a natural disaster, among other things, the property will frequently lose much of its value.

If the loan is insured, however, damages are often covered by the insurer. This protects not just the homeowner but also the bank (and their collateral). 

Further, if a property is destroyed and there’s no way for the homeowner to recoup their losses, they might stop making payments on the property. After all, who wants to continue making mortgage payments for a home that is no longer inhabitable, and that is now suddenly worth a lot less?

Ultimately, insurance protects lenders and their investments. As such, many banks require that homes be insured.

Contact Us Today

Get in touch with The Sirover Agency LLC to discuss your insurance options. We gladly serve Wayne, PA and surrounding communities.

At the Sirover Agency LLC in Wayne, PA, we’ve noticed people sometimes don’t realize that their home insurance policy may not cover certain breeds of dogs. The main reason an insurance company might reject an aggressive dog breed is that it is a liability. If the dog harms someone or damages someone’s property, the insurance company could be sued. There are a few breed restrictions when it comes to home insurance that homeowners need to be aware of. 

Here are some breeds that are restricted and why:

Individual Dogs with a History

Homeowner’s insurance policies are almost always rejected if your dog has a history of biting someone. In some cases, though, you may be able to get a waiver that says it is okay for your dog to be on the policy. The same goes for damages. If your dog has destroyed something in your home, it will likely not be allowed coverage under the policy.

Breeds with Aggressive Reputations

There are a few reasons why home insurance companies may restrict certain breeds of dogs. The most common reason is liability. Certain dog breeds have been known to be more aggressive than others, which can result in property damage or personal injury. Home insurance companies handle a lot of liability claims related to dog bites, so they tend to be very cautious when it comes to insuring homes with certain breeds of dogs.

Here are a few of the most common dog breeds that are restricted by home insurance companies in Pennsylvania:

• Pit Bulls
• Rottweilers
• German Shepherds
• Doberman Pinschers
• Chows Chows
• Akitas
• Wolf Hybrids

Breeds Targeted by Thieves

Another reason why some home insurance companies may restrict certain breeds is because of the increased risk of theft. Some dog breeds are more valuable than others, and therefore are more likely to be targeted by thieves. Home insurance companies take this into consideration when determining which breeds to insure. Here are some breeds most likely to be stolen:

• French Bulldog
• Bulldog
• Chihuahua
• German Shepherd
• Maltese
• Shih Tzu
• Yorkshire Terrier

If you’re a Wayne, PA homeowner with one of the above dog breeds, you may want to check with the Sirover Agency LLC to see if you’re covered. Most home insurance policies have some sort of restriction regarding dog breeds, so it’s always best to check beforehand. 

If you own a home in the Wayne, PA area, The Sirover Agency LLC is here to assist you with all of your insurance needs. Whether for your home, auto, or business, we are the agency you can turn to. Call or stop by today!

Tips for protecting your home from wind damage

Storms with high winds can cause a lot of damage. Below are a few basic tips that can help minimize any wind damage that your home or business suffers:

• Keep all trees well-trimmed and free from dead branches – this can help any loose or dead branches from launching during a storm and causing damage to your home or other structures.
• Carry an additional wind insurance policy when appropriate – some areas receive stronger winds than others. If you live in such a locale, carrying a separate wind protection policy is worth looking into.
• Perform regular and thorough maintenance on your home and roof – loose tiles, gutters, or shutters can cause damage in much the same way that branches can. Keeping your home well-maintained is not just a smart idea, it is a large part of responsible home ownership.

These suggestions are easy to implement and can prevent future damage during the next wind storm. If you are uncertain if wind insurance is necessary for your situation, it makes sense to sit down with a local agent to receive guidance. Wind and rain can cause significant damage.

Contact Us Today

The Sirover Agency LLC is here for the larger Wayne, PA community. If you have any questions about insurance, we are here to help! Contact our office today and book an appointment to find out more about the insurance solutions that are available in this area.

You have recently purchased a gorgeous home in the lush green rolling hills of Pennsylvania and although you do not want to think of anything bad happening to your beautiful new home, the fact is we just do not know when we may need to utilize a home insurance policy since life can change in a moment of time.

The home insurance agents at the Sirover Agency LLC serving the Wayne, PA area are stressing the importance of protecting the investment you have made in your beautiful home through an adequate home insurance policy for you and your situation. Also, if you still owe money on your home, more than likely your lender or bank will require you to have a home insurance policy in place throughout the duration of your loan to protect the investment they have made in your home.

What Does Home Insurance Cover?

home insurance covers a variety of things, including the structure of your home, any outbuildings on your property including garages, decks, or sheds, as well as the contents inside of your home. Some of those things would include all of your personal belongings, your furniture, and your appliances. all of these things will be repaired or replaced if a natural disaster occurs and your home is damaged, or it is damaged from an act of vandalism or fire. A home insurance policy can also help you replace items if they are stolen from your home.

Your home insurance policy can also help you avoid a lawsuit if someone is hurt while visiting your property since they can help pay for their medical bills and lost wages while they recover from their injuries.

Get Your Quote and Start Your Home Insurance Policy Today!

a home insurance policy is an extremely important policy to have in place to protect you and your home. To create the best policy for you and your situation, contact the home insurance agents at the Sirover Agency LLC serving the Wayne, PA area today to get your policy started.

When a homeowner passes away, the transition to a new home insurance policy can be tricky. Thankfully, The Sirover Agency LLC can help Wayne, PA area residents better understand their options and keep them from experiencing financial troubles as well.

The Policy Provides Some Protection 

After you pass away, if you own a home, your home insurance policy is up in the air. While it isn’t going to go away immediately when you pass, it is crucial to take a few steps to help your family transition to a new option. These steps include the following moments:

• The Original Policy Stays Temporarily Valid – If you pass away partway through your insurance term, it will stay valid until your policy finally expires. 
• A New Policy Must Be Created – After a new homeowner is decided, the homeowner and their insurance company must create a new policy to avoid complications. 
• Other Changes Must Be Made – If you want to make changes to an insurance policy, it is vital to do so in 30 days or less to ensure that no legal issues occur. 

A lapse in home coverage, no matter how brief, may trigger complications with selling a home, preparing it for the market, or moving into it. So, if you’re concerned about your family after you pass, make sure you tell them this information to make the transition to a new insurance policy more accessible.

Don’t Get Caught By Surprise 

This situation usually doesn’t impact most people but should be considered a potential concern. Therefore, it is essential to talk to us at The Sirover Agency LLC serving Wayne, PA, to learn more. We’ll do what we can to help protect you from these dangers and give you the inside scoop on the potential complications that may otherwise occur and affect your coverage. 

Nothing is more frustrating than buying home insurance based on wrong facts. It can be nasty when disaster strikes, only to find out that you are not covered. With many home insurance myths being peddled about, The Sirover Agency LLC is here to set the record straight to help Wayne, PA homeowners buy home insurance plans free of bias. Here are the facts.

Myth #1: Your home should be insured against the market value

The insured value of your home you should be looking at is how much it will cost to rebuild your house from scratch — not the amount it will fetch if you were to sell it today. The cost of replacement is usually below the market value because it excludes the cost of land. 

Myth #2: All your valuables are covered

While its true home insurance covers your furniture, electronics, and other assets against loss or damage, high-value items like art, cash, and jewelry have limited protection. So, it’s vital to check with a specialist insurer for optimal protection if you have high-value items.

Myth #3: All damages are covered

Homeowners with home insurance protect their home and other assets against numerous risks, including theft, vandalism, fire, and select natural calamities. While home insurance protects you from various threats, it doesn’t cover damage resulting from:

• Normal wear and tear
• Mold and pest infestation
• Acts of war
• Floods and earthquakes

It’s critical to go through all your home insurance exclusions to avoid a surprise when making a claim. 

Myth #4: Home insurance pays for your family injuries

While your home insurance may have bodily injury coverage, it doesn’t cover you or your family members. It pays for guest’s medical expenses for injuries sustained while on your premises.

Not yet covered by home insurance? Please contact The Sirover Agency LLC, serving Wayne, PA, and the surrounding areas today.

Do you own a pup? Our team at The Sirover Agency, LLC wants to make sure you know how this directly affects your property coverage. Here’s what every dog owner needs to know about home insurance.

Home Insurance Includes Liability Coverage

Perhaps the most important aspect of home insurance for dog owners is the liability component. This is what kicks in if someone comes to your home and your dog injures them in any serious way. As an example, let’s say your child has a friend from school over who ends up bitten and requires stitches. In this case, the liability portion of your policy would pay for those medical bills.

Furthermore, liability also pays if your dog gets out and causes damage to someone else’s property. An example of this would be a pet that destroys a neighbor’s fencing or causes significant damage to a home down the street. In this scenario, your liability coverage might pay to fix these damages.

When Your Pet Damages Your Own Home

Many Wayne, PA dog owners want to know if there’s coverage when their pet damages a portion of their home. Need an example? An anxious dog who eats through a wall or tears up the carpet. Sadly, the answer to this is no. Homeowners’ insurance does not typically cover damages to your own home caused by your dog.

Does Home Insurance Cover Vet Bills?

This is one of those questions that really depends on the situation. If your pet is injured or becomes ill for normal health concerns, your home insurance would not pay for treatment. However, if your dog is injured as part of a bigger claim on your home, there might be some payment. For example, if your purebred Labrador is injured in a house fire and needs extensive veterinary care, there’s a potential chance that your policy might cover it. The reason? Pets are considered personal property. However, this isn’t true with every insurer, so it is important to ask your agent to clarify your specific policy.

Not All Breeds Are Accepted

While you likely know that your canine companion is a good boy or girl, your insurance company does not. Most have a list of statistically more likely breeds to cause injury to humans, and they won’t insure properties where this type of pet lives.

Interested in learning more about home insurance coverage in Wayne, PA? Please contact our team at The Sirover Agency, LLC to schedule an appointment.

Home insurance is something most people take for granted. You usually get a policy when you buy your home, and after that, the policy renews every year without you having to do anything. While that is the easy way to do things, it might not be the best thing for you. Your home insurance should be reviewed from time to time to make sure the coverage you have is the right coverage. In Wayne, PA, the Sirover Agency, LLC is your independent agency choice. Why settle for only one carrier when you can have a choice of many? 

Things can happen in your life and in your home that affects your insurance coverage. That is why most carriers recommend a yearly home insurance review. That may seem a little frequent, and perhaps it is, but certainly, every other year is reasonable.

Reasons why you may want to review your home insurance:

• Major home repairs: There are home repairs that increase the value of your home. Adding new siding or a new roof, a room or garage addition, a new kitchen, or a bathroom update are all things the may require a review of the value of your home insurance. 
• Adding a new pet may require that you increase the liability insurance you have on your home policy. If you put in a pool or a trampoline, these are also things that may cause financial issues if you don’t increase your liability. 
• If you get a new piece of expensive jewelry, artwork, oriental rugs, or costly electronics, this can all affect the value of your content. 
• Adding a new security system can make your house safer and save you a little money, so lt is essential to let your insurance company know about them. 

Your life and your home change over time, and your home insurance policy must keep up with you. Call The Sirover Agency, LLC in Wayne, PA to set up an appointment to discuss your needs.