Storms, Leaks & Liability – Are You Truly Covered?

The Home Insurance Secrets Every Homeowner Must Know – Expert Advice from Patrick Halpin

When it comes to protecting your home, insurance is your first line of defense. But are you truly covered for every possible disaster? Many homeowners assume they have the right policy—until it’s too late. In this blog, we break down the must-know insurance insights from Patrick Halpin, office manager and partner at Purdy Good Coverage under Allstate Insurance Agency.

Whether you're buying a new home, investing in real estate, or just want to understand your policy better, this guide will give you the expert knowledge you need.

Home insurance isn’t just a legal or lender requirement—it’s your safety net. From natural disasters and theft to liability issues, a well-structured insurance policy can prevent financial devastation. But not all policies are the same, and many homeowners don’t realize the gaps in their coverage until disaster strikes.

Patrick Halpin emphasizes that personalized coverage is crucial:

“You don’t just buy a policy—you buy peace of mind. The right coverage ensures that if something happens, you’re not left scrambling for financial solutions.”

 

Key Components of Home Insurance You Should Understand

Your home insurance policy contains several key elements. Here’s what every homeowner should know:

1. Dwelling Coverage

This covers the physical structure of your home. If a fire, storm, or other disaster damages your house, dwelling coverage helps pay for repairs or rebuilding.

2. Other Structures Coverage

Sheds, fences, detached garages—these structures are part of your property and need protection too.

3. Personal Property Coverage

Your belongings—furniture, electronics, jewelry—are covered under personal property insurance. Pro Tip: Keep a video inventory of your home’s contents to simplify claims!

4. Liability Coverage

If someone gets injured on your property, this covers medical bills and legal costs.

5. Additional Living Expenses (ALE)

If your home becomes uninhabitable due to a covered event, ALE covers hotel stays, meals, and temporary housing.

6. Special Riders & Add-ons

Not all coverage is standard. Add-ons like water backup, service line coverage, and umbrella insurance can provide extra protection.

Common Insurance Mistakes That Could Cost You Thousands

Even well-meaning homeowners make costly mistakes with their insurance policies. Here are the most common ones:

🔴 Underinsuring Your Home – Many homeowners underestimate the cost of rebuilding their home. If your policy doesn’t reflect current construction costs, you could be left paying out-of-pocket.

🔴 Ignoring Umbrella Insurance – A standard home insurance policy might not be enough if you face a major lawsuit. Umbrella insurance adds extra liability coverage to protect your assets.

🔴 Forgetting About Flood Insurance – Homeowners insurance does not cover flooding. If you live in New York, getting flood insurance is highly recommended—even if you're not in a designated flood zone.

🔴 Not Checking Policy Limits Annually – As your home and assets increase in value, your insurance policy should evolve, too. An annual review ensures you’re properly covered.

The Importance of Working with a Local Insurance Agent

With online insurance options, many people opt for quick quotes from national companies. But Patrick Halpin explains why a local agent can make a big difference:

“When disaster strikes, you want to talk to someone who knows your neighborhood, understands your needs, and can guide you through the claims process—not a call center rep.”

A local insurance expert can help you: ✔️ Find hidden discounts to save money. ✔️ Customize coverage based on your specific property and risks. ✔️ Get faster support during claims.

Top 3 Insurance Riders Every Homeowner Should Consider

1. Water Backup Coverage

Many homeowners assume water damage is covered—but water backup from sewers or sump pumps usually isn’t. This add-on can save you thousands in repairs.

2. Service Line Coverage

If your underground water, sewer, or electrical lines break, repairs can be extremely costly. This rider covers the digging, repair, and replacement of these lines.

3. Ordinance & Law Coverage

If building codes have changed since your home was built, insurance may not cover the extra cost of compliance. Ordinance & law coverage ensures you're not left with an unexpected bill.

How to Read Your Home Insurance Policy Like a Pro

Many homeowners skip reading their policy because it seems overwhelming. Here’s how to break it down:

📌 Check Coverage Limits: Are they high enough to cover rebuilding costs? 📌 Look for Exclusions: What disasters or damages aren’t covered? 📌 Review Deductibles: What will you pay out-of-pocket before coverage kicks in? 📌 Find the Fine Print on Flood & Storm Damage: Standard policies often exclude specific events. 📌 Ask Questions! If something isn’t clear, reach out to your insurance agent.

Final Thoughts: Is Your Home Properly Covered?

Home insurance isn’t just about meeting lender requirements—it’s about protecting your financial future. Whether it’s storm damage, liability lawsuits, or unforeseen repairs, the right policy can save you from financial disaster.

🔹 Want expert advice on your policy? Reach out to Patrick Halpin at Purdy Good Coverage for a policy review today!

📞 Contact Patrick Halpin at Purdy Good Coverage: 📍 Location: Amityville, NY 📞 Phone: (516) 479-6438

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