Home insurance is not required by the state of Tennessee, but it does come with several benefits. Your mortgage company may require you to have home insurance. Home insurance can cover a few different things and helps provide some peace of mind. Home insurance will cover the structure of the home and help pay to repair or rebuild the home if it is damaged by a peril listed on the policy. Many policies will also cover a garage, gazebo, or tool shed. It will also cover personal belongings, such as clothing, furniture, and electronics if they are damaged by a covered peril or stolen. There is also liability protection to cover you against any lawsuits for property damage or bodily injury that you or other members of your family cause. It can also pay for damage to pets. This portion will pay for the cost of defending you and any settlements that come out of the lawsuit. This also has no-fault medical coverage if someone is injured in your home. If your home is damaged and need repairs or is destroyed by something that is covered, then insurance can pay for the additional living costs of being away from the home, such as hotel costs and restaurant meals.
When shopping for home insurance at IRM Insurance, have some information handy so you can get a proper quote. This information should include the age of the home, square footage, construction details, number of rooms and bathrooms, past home insurance claims, distance to emergency services, and any presence of burglar or smoke alarms. An itemized list of your possessions can help you make sure that they are adequately covered. For items that are high in value, you should have them appraised and purchase additional coverage to be sure. Premiums can vary based on the home, the location, and your personal history.