What is home insurance?
Whether you live in a condominium, rent house, mobile or manufactured home, apartment or a house, having the proper home insurance is incredibly important. Some typical home insurance coverages are fire, theft, vandalism, adjacent structures and additional living expense. There is also liability coverage for your premises as well to protect you should anyone be injured and you are found to be legally responsible. Homeowner’s policies can differ based on what coverages you purchase and the type of loss or claim you experience. Something we strive for at ASI is guiding you in choosing the best policy covererages to meet your needs. Each of our client’s are different and their insurance should reflect that.
Types of coverages we offer:
Additional Living Expense– If your home becomes uninhabitable due to a covered loss or claim your insurance company may pay the necessary increased cost in living expenses while the damage is assessed and your home is being repaired or rebuilt.
Earthquake Coverage – The sudden movement of the earth typically by shaking of the ground that causes damage to a covered home. This is an additional coverage typically not included under your homeowner’s policy. In other words, you have to specifically endorse the coverage onto your homeowner’s policy or purchase it separately. This is designed to cover your structure as well as your personal contents. It usually has a separate deductible as well. Speak to one of our friendly personal lines staff agents today for more information.
Flood Coverage – Flooding is defined by National Flood Insurance Program (NFIP) as general and temporary conditions of partial or complete inundation of water on two or more acres of normally dry land or two more properties covered by water. Flood insurance is not typically covered under your homeowner’s policy. It’s a separate coverage to be endorsed onto your homeowner’s policy or purchase a separate policy. Flood insurance coverage is designed to cover your home/structure and your personal contents.
Identity Theft Coverage – Identity theft is when someone steals or otherwise uses your personal information without your consent to open up accounts and create ID cards. Often individual’s information is attained by stealing your mail, hacking your computer, stealing your information while you shop online or at a retail location just to name a few.
In Home Business Use – Is when a homeowner operates a business from their home. Typical types of home based businesses are daycares, beauty shops, accounting and bookkeeping, dress makers and photography studios. This is a coverage or endorsement that needs to be added to your homeowner’s policy. This would not only cover business premises liability, but also could cover certain business property as well.
Ordinance or Law coverage – When damage or repairs to structures are regulated or enforced by ordinances or laws in relation to construction and repair of damages to home or structures. A lot of communities and cities have building codes or city ordinances to which may have been passed after the construction of your home or structures. This coverage will pay up to a certain amount in and above other coverages due to the extra cost of construction in relation to building codes or city ordinances.
Personal Articles Schedule – When you have special or unique items such as art, jewelry, firearms, and other types of antiques in your home. By scheduling these items you can assert a specific value and properly covered these special items. While your homeowner’s policy does cover most of your personal contents, you would still need to schedule the unique items to guarantee the value of that specific item is paid.
Replacement Cost Coverage – Coverage is designed to replace your home and most personal items without deprecation minus your deductible. Replacement value is often determined at today’s value and not necessarily when you purchased the item or items.
Sewer Water Backup – Is when the sewer flows back into your home due to some kind of obstruction in the pipes typically. Common causes of this is tree roots growing into your pipes, as well as, improperly discarding of cooking oil or grease down the garbage disposal and inappropriate objects being flushed down the toilet. Often there is a limit to how much coverage you have for this on your homeowners if any. Check with your agent to get all the details about sewer water backup.