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Home Owners' Coverage
If you would like a quote for Home
Insurance, you may call our office at 1-641-782-4626 so that we can provide
you with the personal attention you deserve with your Home Owner/Rental
protection
 The
characteristics of your home are more than just your house. Some of the
characteristics of a home include the fence in the backyard, your garage,
jewelry, and most importantly, your family. Homeowners insurance is designed
to give you a sense of security, knowing that whatever happens, you will
always have a dwelling to live in. By looking below you will be able to
learn more about the different coverages that are offered
Types of Coverage
There are four types of Homeowner policies to choose
from. Each of them offers their own type of coverage. There are also two
types of coverage methods: Named and All-risk.
Named:
Named insurance methods only cover what is detailed in the policy. If
something is not mentioned in the policy, then you are not covered for it.
All-risk:
All-risk is just the opposite of named. All-risk lists the exclusions to the
policy and provides coverage for whatever is not mentioned. It generally
provides better coverage than Named. The limits of policy coverage will vary
from carrier to carrier. No policy will cover acts of war, floods, nuclear
events, or earthquake. Flood and Earthquake protection can be purchased with
separate endorsements. |
The Base Policy
House:
This part of the policy tells how your house is, or isn't covered. It is
important to make sure that the total amount is equal to rebuilding costs,
not the market value.
Other Structures:
This part of the policy provides coverage for structures that are not
attached to your house. The limit on this type of coverage is usually set at
10% of your total home coverage.
Personal Property:
This part of the policy provides coverage for personal belongings. This
includes furniture, standard electronics, clothing, etc. You may also
receive coverage for times that you are away from home and credit card
misuse/theft. The limit on this type of coverage is usually set at 40-50% of
you total home coverage.
Loss of Use:
This part of the policy provides coverage if your home is damaged to the
extent that it is inhabitable. This type of coverage will provide for
expenses incurred while you are living away from home because you are
waiting on repairs, rebuilding, etc.
Personal Liability:
This part of the policy provides coverage if someone were to become injured
while on your property. Some examples of this include a friend's child is
injured on a swing set, or someone experiences a dog bite. Personal
liability will provide coverage to help pay for legal defense in the event
of a lawsuit.
Medical Expenses:
This part of the policy provides coverage to help pay medical bills of those
who are injured while on your property or through your personal activities
(parties, backyard soccer game, etc.).
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