Homeowners Insurance

A home policy should provide protection for loss to your home. Coverage for personal belongings and detached structures on your property are also important aspects of a homeowners policy. Another dimension is protection against the injury of a guest at your home. It important to understand that a basic coverage may not provide all the insurance for a particular situation. Every home is different. And the value of homes has increased so dramatically during the past 25 years that individual homeowners may be under-insured. Adjustments may be necessary; if you have any doubts in this area, we suggest that you speak with one of our representatives to modify your policy to suit your needs.

Here is what a basic homeowners policy typically insures for:

Replacement Cost: Simply stated, replacement cost is the cost to rebuild your house after a serious claim, using today’s construction practices. Such coverage is subject to a deductible, which is an amount the insured is responsible for before the homeowner policy responds to the loss. We will help you determine the correct amount of coverage for your home.

Detached Structures: Basic coverage is included for detached structures such as a garages, sheds, or fencing. Each policy sets limits as to the amount of coverage available for any structure (see your declarations page) as well as some important limitations including, but not limited to, buildings that are used in conjunction with a business.

Personal Property: The policy automatically provides a separate limit for personal belongings subject to a deductible. An important thing to keep in mind is that replacement costs tend to increase as time passes. Those top-of-the-line golf clubs that you bought four years ago are probably more expensive today. A strategy to truly protect against this type of loss is Replacement Cost on Contents coverage.  This product provides for the actual cost to replace your damaged property at today’s prices rather than a depreciated value. You can also opt to buy special “all-risk” coverage for items such as Fine Arts, Jewelry, Furs, or collectibles, as well as many other kinds of property. We can assist you in deciding if you need to consider special coverage. In any case we strongly recommend that you maintain an inventory of your personal property that you can refer to in case of a claim.

Loss of Home Use: If your home becomes uninhabitable, Loss of Home Use coverage can provide valuable benefits to cover additional living expenses.

Personal Liability: Should you be legally responsible for an injury to a guest or for damage to another person’s property, the Personal Liability section of your policy can provide important protection. Substantial limits are available under your policy. However, you may decide that even higher limits are appropriate for your needs. A solution that works well for many people is a Personal Umbrella policy. One of our representatives can review the benefits of this kind of program with you.

Medical Payments To Others: This section of the policy provides reimbursement to visitors to your property for medical expenses resulting from injuries.

The above information is intended to present a general overview of Homeowners Insurance and is not a contract. Your coverage is subject to the terms and conditions contained in your policy. We strongly urge you to speak with one of our representatives regarding any questions on this information or your policies.

Please Note:
These are general policy descriptions to help you understand the different types of coverages. They do not refer to any specific contract of insurance, and they do not modify any definitions expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.