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Talking with one
of our insurance professionals is the best way to make sure your
insurance protection is designed with your needs in mind. |
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 Whether you live in
a single family home, a duplex or a condominium, a homeowner’s policy
can provide the protection you need for your home and its contents.
Also available is valuable items coverage for personal articles not
covered by homeowners policies, such as jewelry, furs, and fine arts,
as well as for important business assets kept in your home.
Your home consists
of more than a just your house. A home includes the pool in your backyard,
the tools in your garage and the wedding ring on your finger. Most importantly,
it also includes your family, their happiness and safety. Homeowners
insurance allows you to protect every part of your home giving you a
greater sense of security, knowing that you'll always have a warm roof
over your head. The following provides general information that will
help you understand what a homeowner’s policy provides.
There are typically six different parts.
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Home:
Obviously this part describes the most important coverage of a homeowner’s
insurance policy. Depending on your type of policy and its coverage,
this tells you how your house is and isn't covered. The total amount
should be equal to what it costs for rebuilding. (reconstruction
not the market value)
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Other Structures:
This coverage is for structures unattached to your house: in-ground
pool, tool shed, gazebo, detached garage, etc. This should always
be reviewed to make sure it is adequate. (remember, detached
structures are expensive to replace too)
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Personal Property:
Coverage for personal belongings is detailed here. Items such as
clothing, furniture and standard electronics are covered.
Usually 55-75% of your total home insurance limited is added for
personal property. However, this coverage has exclusions and limitations,
especially for more valuable items like jewelry, artwork and antiques.
Consider additional endorsements for more comprehensive coverage.
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Loss of Use:
In the event your home is damaged to the extent of being uninhabitable,
this coverage will pay for the living expenses away from home while
waiting for repairs, rebuilding or maybe relocating.
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Personal Liability:
Protects you from liability claims should someone become injured
on your property (i.e. your dog bites someone, your child breaks
a window or a friend falls down the porch steps). In the event
of a lawsuit, this will also help pay for your legal defense.
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Medical Expenses:
Helps pay medical bills of those injured on your property.
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