Additional Info
Home Insurance - Coverage
Descriptions
A. Dwelling
This coverage includes the physical structure or dwelling
up to the limit shown on your policy. This does not include
detached structures, i.e. swimming pools, driveways, fences, sheds,
or other structures not attached to the dwelling. This coverage
should equal the replacement cost to rebuild a new home in the
event of a total loss. This includes materials and labor and is
generally derived by the average cost to rebuild a home in your
specific location. NOTE: Land value is not included in the
valuation of replacement cost on your dwelling. General Perils
include: Theft, Fire, Lightening, Windstorm, Snow, Hail, Rain and
Smoke, Vehicle and Aircraft Damage, Vandalism and Malicious
Mischief. Please refer to your policy for a complete list of
covered perils and excluded perils.
B. Other Structures
This coverage includes those structures on the property,
which are not attached to the dwelling, up to the limit shown on
your policy. These include swimming pools, driveways, fences,
sheds, etc. General Perils include: Theft, Fire, Lightening,
Windstorm, Snow, Hail, Rain and Smoke, Vehicle and Aircraft Damage,
Vandalism and Malicious Mischief. Please refer to your policy for a
complete list of covered perils and excluded perils.
C. Personal Property
This coverage includes the personal belongings owned by
you and located on the residence premises, up to the limit shown on
your policy. It includes all real property i.e. appliances,
furniture, clothing, artwork, silverware, dinnerware, cookware,
audio-visual equipment, lawn care equipment, books, and many other
items. General Perils include: Theft, Fire, Lightening, Windstorm,
Snow, Hail, Rain and Smoke, Vehicle and Aircraft Damage, Vandalism
and Malicious Mischief. Please refer to your policy for a complete
list of covered perils and excluded perils.
D. Additional Living Expenses
This provides coverage for additional costs you incur due
to your home being uninhabitable in the event of a covered loss.
This includes housing costs, increased meal costs, increased
laundry costs, etc. For example if your home was not safe to reside
in due to damage by a fire, this coverage provides funds for a
rental home or apartment during the repairs. This coverage
generally ranges from 20% to 40% of your dwelling
coverage.
E. Comprehensive Personal Liability
Your homeowners policy will cover liability claims, up to
the limit shown on your policy, when you are legally obligated.
These claims result from injury or negligence on or off the insured
property. Additional coverage may be available for an
additional premium. If liability coverage beyond the limits
available is desired, you may choose to obtain a separate Personal
Umbrella policy. An umbrella policy will pick up the liability
limits after your auto or homeowner policy is exhausted, up to the
limit chosen. These policies can be as low as $150 a year for
$1 million dollars in coverage. The prices and coverages
available vary based on your individual circumstances.
F. Medical Payments to Others
Your policy will cover medical payments, up to the limit
shown on your policy, to individuals/guests injured as a result of
an accident on your property or due to your negligence. Coverage is
not provided for family members living within the household.
Additional coverage may be available for an additional
premium.
G. Deductibles
The deductible is the co-insurance amount you pay towards
a settled claim. When the Company disburses the final check of a
claim, it is decreased by the deductible amount shown on your
policy. Deductibles can be increased, resulting in a premium
savings, or lowered, resulting in an additional premium charge.
Deductibles may be different for certain perils depending on the
location of your property. In coastal locations where windstorm is
a threat, the company may require a higher windstorm
deductible.
Homeowners Insurance Coverages may be increased for an
additional premium.
Optional Policies
Earthquake
Flood Personal Articles Floater (PAF)
Umbrella
Windstorm