Products & Services

Homeowners

The structure of your house
This part of your policy pays to repair or rebuild your home if it is damaged or destroyed by fire, wind, hail, lightning or other covered perils listed in your policy. It will not pay for damage caused by a flood, routine wear and tear or other exclusions listed in your policy. When purchasing coverage for the structure of your home, it is important to buy enough to rebuild your home.

Most policies also cover structures that are detached from your home such as a garage, tool shed or gazebo. Generally, these structures are covered for about 10% of the amount of insurance you have on the structure of your home. If you need more coverage, talk to us. We’ll advise you of your options and the best protection program. [back]

Your personal belongings
Your furniture, clothes, sports equipment, and other personal items are covered if they are stolen or destroyed by fire, lightening, or other insured perils. Most companies provide coverage for 50% to 70% of the amount of insurance you have on the structure of your home. So if you have $200,000 worth of insurance on the structure of your home, you would have between $100,000 to $140,000 worth of coverage for your belongings. The best way to determine if this is enough coverage is to conduct a home inventory. We have home inventory kits available upon request.

This part of your policy includes off-premises coverage. This means that your belongings are covered anywhere in the world, subject to certain limitations at a secondary residence or newly acquired primary residence after 30 days.

Expensive items like jewelry, furs, and silverware are covered, but there are usually dollar limits if they are stolen, misplaced, or lost. Generally, you are covered for between $1,000 to $2,500 for all of your jewelry and furs. To insure these items to their full value, purchase a valuable articles endorsement or floater and insure the item for its appraised value.

In addition to the items mentioned, there are other classes of property that are also limited by a certain dollar amount. We can review your policy with you to make sure you have adequate coverage.

Trees, plants and shrubs are also covered under standard homeowners insurance. Generally you are covered for 5% of the insurance on the house—up to about $500 per item. Perils covered are theft, fire, lightning, explosion, vandalism, riot and even falling aircraft and vehicles. They are not covered for damage by wind or disease. [back]

Liability protection
Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It can also cover you for libel and slander if personal injury coverage is purchased. So, if your son or daughter accidentally ruins your neighbor’s expensive rug, you are covered.

The liability portion of your policy pays for both the cost of defending you in court and any court awards—up to the limit of your policy. You are also covered not just in your home, but anywhere in the world.

Liability limits generally start at about $100,000. However, we recommend you purchase at least $500,000 worth of protection or the maximum limit available. The cost to go from the basic limit to $500,000 is minimal. You can purchase an umbrella or excess liability policy which provides broader coverage, including claims against you for libel and slander, as well as higher liability limits. Generally, umbrella policies cost between $150 to $250 for $1 million of additional liability protection for the average household (or family).

Your policy also provides “no-fault” medical coverage. In the event a friend or neighbor is injured in your home, you can file a claim with your insurance company to pay the medical bills. This way, expenses are paid without a liability claim being filed against you. You can generally get up to $5,000 worth of this coverage. It does not, however, pay the medical bills for your family. [back]

Additional living expenses
This pays the additional costs of living away from home if you can't live there due to damage from a fire, storm, or other insured cause of loss. It covers hotel bills, restaurant meals and other additional living expenses incurred while your home is being rebuilt or repaired. The key is additional expenses you normally would not have incurred without the loss. Coverage for additional living expenses varies. Many policies provide coverage for about 20% of the insurance on your house. It is possible to increase this coverage for an additional premium. It is also possible to obtain a policy that provides an unlimited amount of loss-of-use coverage, but for a limited amount of time. [back]