home insurance
in west virginia

home insurance 
in west virginia

Malhotra & Assoc. Insurance Has You Covered

West Virginia Homeowner Insurance

At Malhotra & Assoc. Insurance, our friendly team can help you find the best home insurance for your property and its contents. As an independent insurance agency, we make it easy to find the best coverage for your home, at the best possible price.

We offer honest advice, affordable prices, and a truly personalized service.

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West Virginia Homeowners insurance

Frequently Asked Questions

When it comes to home insurance in West Virginia, we tend to get the same questions often.

Should I Buy Homeowner Insurance if I Lease a Property?

Your landlord will probably have some form of homeowner or investment insurance for the property. However, their policy will not cover your personal belongings. Insuring your personal property with your own Renters Insurance policy is essential.

How much renters insurance do I need to buy?

Your landlord will typically request you buy a certain amount of coverage as part of your contract. After that, you should have enough coverage to replace your personal belongings. Another important factor you should be clear on is the difference between actual cash value and replacement cost coverage. Actual cash value will pay out the worth of our possessions on their present-day market value only – and this can leave you with a shortfall should you wish to replace any goods on a like-for-like basis. Our team can discuss both options in detail with you, and offer tailored quotes for each type of coverage.

Buy West Virginia Homeowners Insurance with Malhotra & Assoc.

The team at Malhotra & Assoc. Insurance makes buying homeowner insurance a seamless and easy experience. We make sure you get the most comprehensive homeowner coverage for your property and your contents. As an independent insurance agency in West Virginia, our team is proud to work with many of the best insurance carriers. We will find the right policy for your needs, your property, and your budget. Call us today at 419-756-8910 or visit one of our locations!

Buying Homeowner Insurance in West Virginia

If your homeowner insurance is up for renewal, or you’re looking to insure a new home, our team is ready to help.

Whether you are looking for comprehensive homeowner insurance, renter’s insurance, condo insurance, or more; you can trust our team to provide you with the best Virginia home insurance options. We work with many of the leading insurers to provide our clients with the best rates possible. We look forward to assisting you soon.

How Much Does Homeowners Insurance Cover in West Virginia?

While most mortgage providers will insist that you have adequate homeowner insurance in place for your property against the essential liabilities, there are other unexpected events that you should consider.

Most homeowner insurance policies will give you coverage for the below events, but in some cases, you may get additional coverage for other events. However in certain situations, you may get other coverage options included.

  • Windstorm
  • Fire
  • Frozen Plumbing
  • Hail
  • Floods
  • Smoke and Fire
  • Falling Objects
  • Water Damage

*Water damage is usually only covered as standard for damage that is covered by HVAC, appliances, or water heating systems.

The Different Types of Homeowners Insurance

There are many types of homeowner coverages in West Virginia. Ranging between HO1-HO8, The most common policy in West Virginia is HO3. Our agents are available to help you understand what each of these coverages mean.

Coverage for the Dwelling

This element of your coverage will give compensation to the insured property in the event the physical structure of the property is damaged due to specific perils. An HO3 policy is known as an ‘all-risk’ policy, which means that it will give you coverage for any peril that is not listed as an exclusion. You can typically expect exclusions to include earthquake and flood damage.

Coverage for Personal Property

This is designed to give you coverage for your personal belongings that are either damaged or lost under the same perils as your core policy. Most typically, some of the included perils are things such as theft, hail, lightning, vandalism, fire, and smoke.

Coverage for Liability

This element of your insurance is designed to give you coverage in the event you or someone in your household causes property damage or personal injury to another person.

Coverage for Additional Living Expenses

Also referred to as ‘ALE’ or ‘loss of use,’ this is designed to help with the cost of having to move somewhere temporarily while repairs are being undertaken on your property.

In addition to the above, it is possible to buy coverage for water back-up in the property. This will give you compensation for any damages to your property and its contents due to sewer/plumbing issues that result in a back-up of water into your property.

As you can see, there are many events that are covered by a standard HO3 home insurance policy in West Virginia, but there could also be additional options that might be required based on your individual situation. Our friendly team can help you explore the best options and obtain quotes from the best insurers on your behalf.

Homeowner Insurance Costs in West Virginia

To carry $200k of dwelling coverage in West Virginia costs $1028 annually, with the average homeowner paying around $1416.

The cost of homeowner insurance in West Virginia varies depending on the volume and value of homeowner claims across the state, along with accounting for the value of the structure and belongings that are being insured. As such, costs can vary greatly.

West Virginia Homeowner Insurance Discounts

In most cases, the best way to get a discount on your homeowner insurance is to try and hold multiple insurance policies with the same insurer. However, as we know, there are occasions where searching the local insurance market can yield a better price. The best way to find out how much money you can save on your homeowner insurance is to get a quote from an independent insurance agent such as ourselves. We can look into the exact type of coverage you do and do not need and provide you with exact prices based on what you actually need.

This means no surprises or additional charges; the price you’re quoted will cover everything you require and nothing more than you ask for.

More Frequently Asked Questions
about West Virginia Homeowners Insurance

What is the Difference Between Replacement Cost and Actual Value for Your Contents Insurance?

Actual value will only payout to the value of the items on the day of your claim. In contrast, replacement cost value will give you the full cost of buying a like-for-like replacement. For instance, if you have a laptop which cost $2,000 when it was new, but it was four years old when you made your claim, you will only receive a fraction of the cost as part of the payout, and this could leave you having to find an additional sum of money to buy a new laptop. However, with replacement cost coverage for your contents, you will get enough money to be able to buy the same or a like-for-like model.

Actual value coverage will cost less, but you will need to find the extra money to purchase new products. Replacement cost coverage will cost more, but it can prevent you from having to find money to replace your old items with new versions in the event of a claim.

Do I Need to Buy Renters Insurance if I Live in a Shared Accommodation?

Usually, yes. Even if there is insurance held by others, this probably won’t cover your personal effects. The only caveat to this, is if the insurance names each individual on the policy, but we rarely see this. Renters insurance is more affordable than many people believe, so it’s definitely a good idea to get a renters insurance quote.

What is the Difference Between Condo and Renters Insurance?

Condo insurance is designed to cover any personal effects, your liabilities, and physical property. However, it will not cover the whole of the condo’s structure. Most condo owners will find that their Homeowner Association’s Insurance will provide coverage for the entirety of the condo’s structure. Renters insurance is similar to homeowner insurance, with the added exception of it not covering the physical property. It is designed to cover personal effects held within the property, and in certain cases, it will also cover named items that are taken outside of the property as well.

Contact Us Today for a West Virginia Home Insurance Quote

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