Why do I need home insurance?
If you own a home you should consider home insurance to protect this most valuable asset.
What coverages are overlooked when it comes to home insurance?
High value items that you may have on your premise such as Jewelry, Guns, Art pieces, Lawn/Garden Tractors, Musical instruments Etc. Your Homeowner's policy contains certain limits for “theft” of these items. You can purchase higher limits for these items by "scheduling" them on your policy. Scheduling provides broader coverage, lower deductible options and peace of mind.
What is Guaranteed Replacement Cost?
There are a couple different options with this coverage depending on your insurance company. Some carriers offer up to 125% of the Dwelling Coverage, others 150%. The best, of course, is a “true” guarantee that states they will replace your home regardless of the cost and the policy limits, subject only to the perils of the policy as well as the terms and conditions of the policy and endorsement. You must insure your home to 100% of Replacement Cost.
What is Equipment Breakdown?
It's homeowners appliance insurance that provides protection in the event of an unexpected mechanical or electrical breakdown not caused by normal wear and tear or corrosion. It covers the perils of mechanical, electrical and pressure systems breakdown, which are excluded or limited perils in the homeowner’s policy. Anything in your home that can break mechanically or electrically; for example, wine cooling unit, heat pumps, swimming pool equipment, air conditioning systems, electrical panels, televisions & media equipment, as well as other household appliances.
What is Water Backup Coverage?
Water backup coverage is an optional add-on to a homeowners insurance policy. This coverage may help pay for water damage resulting from a backed up drain or sump pump. For instance, it may help cover the cost of replacing furniture or removing water after an unexpected backup.
What is Personal Injury Coverage?
The typical homeowner's insurance policy does not cover personal injury issues – which can include stuff like false arrest, wrongful eviction or entry, invasion or violation of privacy, and yes, slander and defamation. These coverages can be added by endorsement to the policy. We highly recommend this coverage.