Home Insurance in Apex, NC
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Meeting at the Apex
When you’ve reached the highest point, you’ve reached the peak or the apex. Appropriately this town of nearly 60,000 residents is considered the highest point of the old Chatham Railroad in North Carolina. This town has been around since the 19th century, but thanks to the demand for workers in tech created by the establishment of the Research Triangle in the 1960s, Apex experienced significant growth. After the turn of the century, Apex began to show up on lists of the best places to live. Now it’s widely considered a great place to live with little signs of stopping anytime soon. It should come as no surprise that this corner of the Tar Heel State is affectionately nicknamed “Peak City.”
In Apex, you can find many parks for the enjoyment of residents and visitors alike, including a skate park near downtown. If you find yourself here the first Saturday in May, you’ll want to stick around for Apex PeakFest, an annual festival featuring over 200 vendors of food, rides, arts, crafts and more. Apexians also refer to the area as the “peak of good living.” With the median family income being over $100,000 and home prices averaging over $450,000, it’s not hard to see why. This part of North Carolina is a great place to home. If you’re contemplating a move here or looking to relocate within the area, make sure you get the inside scoop on home insurance in Apex, NC.
Starting From the Top
Home insurance is not required by law in North Carolina, but a lender will usually require to carry it as a part of the home loan. Even if you own your house, it’s a great idea to have home insurance in Apex, NC. A policy covers you in the case of major damage to your home and its contents from covered perils such as fire, water damage, theft and more. While you would never want to lose your home in a fire or other disaster, it’s good to know that you have a plan in place that protects the finances of you and your household. A typical policy includes these coverages:
- Replacement and repair of your home and personal belongings due to a covered peril
- Payment of medical bills for non-insured persons who experience injuries while on your property
- Repair and restoration of other structures on your property such as sheds, garages, fences and more
- Other expenses such as temporary housing while your residence is being restored
Having home insurance in Apex, NC just makes good sense for anyone who owns a residence. It’s important that as you consider purchasing a policy that you find out exactly what is and isn’t covered. For example, certain natural disasters may not be included in your policy.
When it comes to covering your home, it’s important to know what type of policy you have. An actual cash value policy covers repair or replacement based on the value of your home. It does not account for inflation and other cost increases that may make the cash value less than a true cost to replace. For more money, you can go with a replacement cost policy. This insurance plan takes into account not only inflation but other factors such as increased costs for labor, building materials and equipment. Once you’ve thought about the type of home insurance in Apex, NC you need, familiarize yourself with these elements:
- Liability limit: The total value of your policy based on actual cash value or replacement cost
- Premium: Your monthly, semi-annual or annual payment to have home insurance in Apex, NC
- Deductible: Value deducted from a claims payout or your share of the damages
This information is intended for general informational purposes only and is not intended to constitute legal advice.