Home Insurance Las Vegas Nv – Looking for an alternative to FAIR Plan insurance in Nevada? Is insurance difficult or high risk? Fill out this easy home insurance quote form!
Most states have an equity plan or some other type of state insurance for at-risk homeowners, but Nevada has yet to pass legislation to do so. Nevada has its share of extreme weather, but it rarely comes in the form of a tornado. The topography of the state allows for events such as rock falls and landslides in the mountains, fires in the southern part, and floods in low-lying areas. Nevada is not immune to disasters that make the news. A series of storms in western North America wreaked havoc in the Sierra Nevada mountains in January 2008, but because the population is so low, the injuries and deaths were not big national news. Infrequent extreme weather events and the rarity of homeowners insurance are the reasons why Nevada’s Equity Plan is unlikely.
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To compare the frequency of disasters with the rest of the country, Nevada has extremes. For example, the average earthquake index for the United States is 1.81, but Nevada is higher at 2.88. However, the tornado index seems to be just the opposite, with the US tornado index reading at 136.45 and Nevada at a measly 4.84. Nevada has a high risk of dangerous and costly wildfires, and these risks continue. Although Nevada has certainly had some historic events that have shaken homeowners from their homes, long-term, catastrophic events have been few and far between. These favorable conditions lead to lower prices than the national average, but also increase the risk of increasing insurance company rates, insurance coverage limits, cancellations and non-renewals in the event of a major disaster. Lower Nevada rates and the lack of a proper plan can leave a large gap in the market in the event of a major event that results in a loss of home insurance.
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As with all FAIR plans, consumers are encouraged to try to find coverage in the private market, and we can help you find an agent who can help you find alternatives to the FAIR plan. If you’re like most Las Vegas homeowners, it’s your home. It is your most valuable asset and must be protected. When your home is damaged or destroyed, your claim should be settled by an insurance company that understands the importance of the place you call home.
First Choice Insurance Group can help you find the best homeowner’s insurance that best meets your needs and offers the most valuable combination of good coverage, quality service and competitive pricing.
Note: If you are looking for homeowner’s insurance for a rental property or a non-residential home, you cannot use traditional homeowner’s insurance. You need a ‘specialised accommodation’ policy which we can also help with.
Whether it’s in Las Vegas or anywhere else in Nevada, homeowner’s insurance is one of the most important insurance policies you can have.
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It is important to understand that no two homeowners insurance policies are the same. Different insurance companies offer different levels of coverage, different endorsements and riders, and have different terms and limits.
Unless you use an independent Las Vegas agent like us, it can be difficult, if not impossible, to tell the difference between the two homeowner’s insurance policies.
Whether you own or rent, insuring the place you call home can help protect you financially if you suffer from fire, theft, vandalism or other covered events. It also covers if someone is injured on your property and wins a legal judgment against you.
Homeowners insurance policies vary depending on what damage is covered, what coverage you choose, and what type of home you own. Choose which policy is best for you, whether it’s a comprehensive policy that covers losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or a policy that only covers specific losses.
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Dwelling – This is the part of your policy that covers the actual structure (main home). The cost of remodeling your home can vary from time to time based on the cost of materials and labor, as well as supply and demand.
We do a replacement cost analysis on your home to see how much it would really cost if the worst were to happen and you had to rebuild.
Other Structures – This covers any structure on your property that is not permanently attached to your home, such as fences, driveways, sidewalks and detached buildings such as sheds and garages. Generally, this coverage is 10% of your housing ceiling, but it can be increased if you need more coverage.
Personal belongings – This includes all your personal belongings, such as clothing, furniture, electronics and appliances. Basically everything will fall out of your house if you turn it upside down and shake its contents.
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Loss of use – This covers your living expenses if you need to live somewhere else temporarily because your primary home is uninhabitable due to loss.
Medical Expenses – This covers medical expenses for guests if they are injured on your property, and in some cases it covers people who are injured off your property. It does not cover health care costs for you or other family members.
Family Liability / Personal Liability – Personal liability coverage applies if someone is injured or property is damaged and you are at fault. This protection generally applies anywhere in the world. When choosing your debt coverage limit, consider things like your income and assets. If you are sued, your personal liability coverage should be high enough to protect your assets. In some circumstances, an umbrella policy may be required to provide additional coverage.
Planned Personal Property – There are situations where you may want special protection for valuables or collectibles such as jewelry, guns, collectibles, rugs, etc.
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If you would like us to review your current policy and make recommendations, contact our office, enter some basic information in the fields below to get started online. However, we make the process very simple!
We use cookies to provide a better browsing experience, analyze site traffic and personalize content. Ok Cookie Policy Written by Michael Evans Michael Evans Ribbon Contributor Specializations Personal Finance • Home Buying • Auto Insurance Michael Evans has contributed and worked in many industries including education, finance, government, insurance and journalism. . He began writing professionally while working for the first online mortgage broker in San Francisco, California. His writing has appeared in print and online publications such as Fox Business, International Living, Motley Fool and Yahoo Finance. He and his family split their time between residences in Northern California and Columbia. When not writing, Michael enjoys working on his photography business and playing with his cat, Cindy Lou. Read more on LinkedIn Michael Evans
Editor by Jessa Claeys Editor Jessa Claeys, Specializing in Insurance • Auto Insurance • Homeowners Insurance Jessa Claeys is an insurance editor with over a decade of experience writing, editing and leading teams of content creators. It now covers auto, home and life insurance with the goal of helping others secure a healthy financial future. His work has been published by many insurance, personal finance and investment publications, including Jerry, BiggerPockets, Specialist 401(k), BP Wealth, and more. Read more on Jessa Cleese’s LinkedIn
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