Homeowners insurance
Homeowners insurance provides financial protection against damage to your home and contents caused by disasters. Additional coverage options can be customized to suite your requirements.
The purpose of homeowners insurance is to cover the cost of restoring your home and possessions to the same condition they were in before the loss occurred. There are several different homeowners insurance types available, yet not all coverage types are available in all states.
You should speak directly with your agent about your specific coverage needs and the options that are available to you.
A homeowners policy can cover:
- Damages to your home’s physical structure
- Damages to other structures like garages
- Your personal belongings, whether they’re in your home or elsewhere
- Temporary living expenses in the case your house becomes uninhabitable due to a covered loss
- Your personal liability in the event someone is injured or their property is damaged
You can also select policy enhancements and add-ons such as valuable items coverage, replacement cost coverage for your belongings, extra coverage for your belongings for full replacement costs regardless of depreciation, additional home replacement building costs.
Choosing Your Home Deductibles
A deductible is the amount you will have to pay before the insurance coverage takes over. The higher your deductible the lower cost of your homeowners policy will be.
The amount you choose for your insurance deductible depends on how much you are prepared to pay if a covered accident occurs to your home. When choosing a deductible, keep your budget in mind to minimize any impact to your current lifestyle.
Speak directly with your agent about specific deductible options available to you.
What is condo insurance?
When you are the owner a condominium, you are responsible for what’s inside your condo not your condo association. Having a personal condo insurance policy is an important protection for your investment.
Condo associations have master policies that cover the association property, common areas and physical structure of your building. Master policies typically don’t cover interior structures or your legal responsibility to others. Condo associations may also have the right to levy a “loss assessment” on unit owners should there be a claim against the master policy.
As a condo owner, you have requirements for protecting your property. While your condo association may have an insurance policy, only condo insurance covers your personal property and personal liability. So you can rest assured you’re personally protected.
Condo policies cover:
- Damage to furniture, clothing, appliances and other personal items.
- Common loss assessments made by the condo association for all unit owners.
- Your personal liability in the event someone is injured or their property is damaged.
You can also select policy enhancements and add-ons such as valuable items coverage for your belongings for full replacement costs regardless of depreciation.
Renters insurance
renters insurance even if you don’t own a home, you still have a lot at stake. After all, your personal belongings, like clothes, furniture and electronics, have significant value. Renters insurance can help you protect that value without breaking the bank. So no matter where you live, you can rent with peace of mind.
A Renters policy can cover:
- Damages to furniture, clothing and other personal items
- Your personal belongings, whether they’re in your home or elsewhere
- Personal liability for another’s injury or their property, if damaged
- Temporary housing if you are forced out of your apartment due to a loss
You can also select policy enhancements and add-ons such as valuable items coverage for your belongings for full replacement costs regardless of depreciation.
Landlord Insurance
Own a home or apartment which you are renting out, then you have special insurance coverage needs that standard home and condo insurance does not provide. The coverage you need is found in a landlord insurance policy.
Landlord policies provides insurance for:
- Property insurance
- Liability insurance
- Business personal property
- Rental income protection
Your agent can provide more information on the coverages and optional endorsements available to you.