Dwelling coverage for both packages is based on Replacement Cost. This value is the estimated amount it would cost to rebuild your home. The deluxe package offers a 50% buffer, in case the cost of materials and labor is more than the estimated amount.

Personal property is your personal belongings, (TV, couch, clothes, jewelry, etc.). With the standard home insurance policy, your personal belongings are covered to their current depreciated value. If you decide to opt for the deluxe policy, you also get replacement cost. So, if a 10-year-old couch goes up in a fire, you get paid for a new one. 

• Any items higher than normal value of $2,500, (for example, a $10,000 engagement ring) would have to be “scheduled” on the policy. To do this, we’ll need a recent appraisal (within 2 years).

Personal Liability Coverage protects you in case someone slips and falls, or other bodily injury claim arising from your home. Both standard and deluxe options offer $500,000 of coverage.

In the event of an insurance claim, the deductible is the amount that a policyholder must pay before the insurance company begins to pay.

We recommend that you choose the highest deductible that you can afford out of pocket. Having a higher deductible can save you money on your policy and can alleviate the need to file small claims.

Note: Some quotes will include a separate, higher deductible for hurricane damage and/or windstorm damage to your home. Typically, this deductible is a percentage of the dwelling coverage. For instance, if your dwelling coverage is $200,000 and you have a 2% hurricane deductible, you would be subject to a deductible of $4,000 in the event your home was damaged by a hurricane. For more information, ask your sales representative for more information.

Learn More About Deductibles!

When it comes to paying your home insurance, you may have some options available to you. The most common way your home insurance may be paid is through an escrow account, which comes out of your mortgage payment. With an escrow account, your home insurance is often included in your closing costs.

As well, you may be able to pay your insurance directly in monthly or yearly installments.

Click here to learn more about escrow accounts and other payment options.

You’re probably familiar with a home’s market value. But when it comes to insurance, a home’s rebuild value is much more important.

A home’s rebuild value includes the costs for all the materials and labor to replace your home. On the other hand, market value is based on buyer perceptions of what a property is worth. This factors in the location, the land, and the home’s proximity to desirable places. These factors don’t necessarily impact a home’s rebuild value.

Learn more about market value vs. rebuild value.

Carriers reserve the right to choose which liability risks they are willing to take. Because of this, certain carriers will not insure you if you own a certain dog breed.

The good news is that as an independent insurance agency, we can find you the right fit for your budget and your furry friend.

Learn More!

Truthfully, an insurance policy is not designed to protect you from problems that stem from wear and tear, structural problems, maintenance issues, or other problems not discovered during a home inspection. Insurance typically only covers issues that stem from sudden and accidental damages.

On the other hand, a home warranty is designed to protect you from these expected maintenance problems and normal wear and tear.

Together, home systems protection and a home warranty can protect you from both expected and unexpected damages that may occur in your home.

Learn More!

Here’s a list of some of the most common causes of loss that your home insurance covers.

• Windstorm and hail
• Explosion
• Riot and civil commotion
• Impact from aircraft
• Impact from vehicles
• Smoke
• Vandalism and malicious mischief
• Theft
• Falling objects
• Weight of ice and snow
• Glass breakage
• Accidental electrical damage to appliances (caused by power surge)
• Water damage caused by spontaneous burst pipe or appliance overflow.
• Frozen plumbing

Here are some common causes of loss that are not covered by a standard home insurance policy.

• Flooding – Requires a separate insurance policy.
• Water backup – Requires a home insurance endorsement
• Service lines – Requires a home insurance endorsement
• Earthquakes
• Termites, rats, bed bugs, infestations
• Mold
• Sinkholes
• Maintenance issues
• Intentional damage
• Any damage to vacant homes (30 to 60 days)