Home Insurance

Understanding the basic components of a homeowners insurance policy will help you determine the best coverage for your situation. 

In the event that it is damaged or destroyed, this provides coverage for the rebuilding of your home. We will use a formula based on your home’s construction costs and features to determine the cost to rebuild. This information must be updated as you make home improvements to ensure proper coverage.

In the event of destruction, theft or other type of loss, this provides for the replacement of your personal belongings. Contents coverage may be provided as part of Dwelling coverage or may be limited to a portion of the overall dwelling replacement value. Because there are limits to the coverage it’s important to consider additional coverage for luxury items such as jewelry and fine art. 

If someone outside your household is injured on your property, or should you become responsible for injuries to someone away from your property, this provides coverage for bodily injuries. Increased liability protection is available through Umbrella liability protection.

Additional Coverage

Depending on your individual situation, you may find additional coverage to be beneficial.

Detached structures
Detached structures on your property are either included with the dwelling blanket limit or they are insured at 10% of the dwelling limit. Depending on the use of the detached structure, you may need to increase the policy limit to ensure protection in the event of a loss. 

Water/sewer back-up

If you have valuable equipment or furnishings in your basement, this coverage will help pay for damages caused by water seepage through sewers and drains. 

Loss of use
If you are unable to live in your house due to a fire or other event, this coverage will help cover the cost of extra rent or hotel accommodations.

Landscaping debris removal
When damages from a fire or storm occur to trees, shrubs and plants on your landscape, this protection will help cover the costs of debris removal.

Rebuilding to code
This coverage protects you when changes in building codes make the replacement or rebuilding of your home more expensive to rebuild after a loss.

Open peril
Open peril coverage offers protection for all risks except specific exclusions. Carefully review your policy to understand what is limited or excluded from your coverage in order to determine if you need open peril coverage.

 Factors affecting homeowners insurance costs:

  • Location
  • Age of home
  • Construction
  • Replacement value
  • Past claims
  • A combined homeowners and auto insurance policy
  • Level of coverage
  • Amount of deductible

Reduce Home Owners Insurance Costs with:

  • Security systems
  • Deadbolt locks
  • Smoke alarms
  • Non-smoker discounts
  • Senior citizen discounts
  • Higher deductibles
  • Gated community

Increased costs may result from:

  • Smoking
  • Swimming pools
  • Trampolines
  • Auxiliary heating systems
  • Location of fire hydrants/fire departments
  • A home based business
  • Some kinds of  pets

Additional Coverage:

Second Homes

Depending on your coverage and the location, you may not be able to add a second home to your existing policy. Out of state or disaster prone areas may be difficult to insure and it’s important to allow plenty of time to check into it.

Home Building and Additions

A Builders Risk policy may be required for a location under construction to cover items such as theft of building materials or collapse. You will need to work with your contractor to determine who will be responsible for providing this coverage.

College Students
College students living on campus and possessing equipment such as computers and electronic equipment may want to consider renters insurance to cover items excluded from your homeowners policy.

Home Services
If you hire people to provide childcare, landscaping, cleaning or other services, you my need to consider workers’ compensation insurance. Most homeowners policies do not provide the coverage required to protect you if a hired worker is injured on your property. However, many service professionals carry their own coverage and should be able to furnish proof of insurance upon request