FREQUENTLY ASKED HOMEOWNERS INSURANCE QUESTIONS
	Do I need additional amounts of insurance on my dwelling? Depending on the age of the dwelling, different options are available. If you insure your home for 100% of the replacement value, agree to inflationary increases and report all additions and alterations, you may be eligible for one of the following: A. Repair or Replacement Cost Protection - provides coverage for the full cost of the repair or replacement of the dwelling B. Extended Dwelling Replacement Coverage - provides an additional amount of insurance (25% or 50%) when loss to dwelling insured exceeds the dwelling limit of liability! How do I request changes to my policy? You may call us, stop by our offices or use our on-line change request form, click here. Am I covered for ordinance or law protection loss? Your policy provides only limited coverage for loss caused by enforcement of a state or town ordinance regulating the construction, repair or demolition of a building. Some homes do not meet modern building codes and in some localities, the law may require a badly damaged building demolished and rebuilt rather than repaired. Optional coverage is available. What is replacement cost coverage on personal property? The homeowner policy pays covered losses to personal property on an actual cash value basis. In other words, settlement is based on the cost to repair or replace less depreciation due to age. This option eliminates depreciation and assures and assures you will collect in full to replace an item, without deduction for depreciation. *Not all items are eligible for this option; refer to policy for list of exclusions. Is earthquake damage covered? It is excluded under the homeowner policy but optional coverage is available. Is flood damage covered? It is excluded under the homeowner policy but optional coverage is available if you live in a participating community. Is water backup of sewers or drains covered? No coverage is included but optional coverage is available. Are other structures on your property rented to others or used for business covered? Your policy excludes coverage if another structure is rented to others or used in any manner for business. Optional coverage is available. Is remodeling or additions/alternations on my property covered? If you make any type of improvements to your home, contact our office to discuss whether or not you need to increase your coverage. Is my property at my residence associated with any type of business covered? Your policy limits coverage for business property at your residence to $2,500. Optional increased coverage is available. Am I covered if I conduct business from my residence? Your policy excludes liability coverage for any type of business conducted from your home. Optional coverage is available. What coverage do I have for jewelry, watches, furs and other valuable personal property? Your policy provides specific dollar amount limitations for many classes of personal property. In addition, coverage is limited to named perils that do not include losing or misplacing an item or accidental damage. Optional scheduled coverage to include such claims is available. How do I establish a replacement cost establish of my home? Our office can help you to complete a current cost estimator to establish the estimated cost to rebuild your home at current building costs. This is the amount of insurance you should carry on your home to assure you could rebuild in the event of a total loss. Insurable value should never be based on tax valuations as those take into consideration current market values rather than building costs. What are the those coverages I read about on my HomeOwners Insurance bill? Coverage A - Dwelling Coverage Imagine your house on moving day...empty, waiting to be filled. This is the part referred to as Coverage A: your physical home (rooms, fireplaces, tile floors, carpeting, etc.) and the structures attached to it, such as an attached garage. Coverage B - Other structures Not all structures that exist on your property are actually attached to your house. Therefore, Coverage B offers insurance protection for other structures such as a detached garage, gazebo, or storage shed. Coverage C - Personal property Your personal possessions such as furniture, clothing and appliances are covered. Certain types of possessions are excluded or have limited coverage. Please see personal property exclusions and limits of coverage for more specific information. Coverage D - Loss of use The coverage is also called Additional Living Expense. Essentially, this pays for your housing and other living expenses (like meals and laundry) if a major loss makes your house uninhabitable and you have to move out temporarily while it's being repaired. Coverage E - Personal liability Provides coverage for bodily injury or property damage for which you are legally responsible. For example, let's say your dog bites someone, a guest falls down your front stairs, or your son throws a ball through your neighbor's window. You are legally responsible for these actions. Personal Liability helps to cover the associated costs of these related damages. Coverage F - Medical payments Pays all reasonable and necessary medical expenses for a period of three years from the date of an accident to a person or persons injured while on your property. This coverage does not apply to the insured or regular residents of the insured's household. What are the covered perils of a homeowners insurance policy? • fire or lightning • windstorm or hail • explosion • aircraft • vehicles • riot or civil commotion • smoke • theft • vandalism/malicious mischief • glass breakage • volcanic eruption Some policies also provide coverage for (check your policy for specifics): • falling objects • weight of ice, snow or sleet • freezing of plumbing • accidental plumbing discharge • rupture of steam or hot water heating system, air conditioning systems, or water heaters damage from artificially generated electricity. What are some of the basic Exclusions on a homeowners policy? A homeowners policy does not provide coverage for the following perils (check your policy for specifics): • loss due to flood, or water that backs up through sewers • loss to building by earthquake, aftershocks and mud slides • loss by enforcement law or ordinance regulating construction, repair or demolition, or zoning • loss due to power interruption when the interruption takes place off the residence property • loss due to neglect of the insured to save and preserve property following a loss war and nuclear perils • intentional loss . Deductibles, what are they? With a homeowners policy, a deductible applies to the property portion of the policy. A deductible is the amount you would have to pay out of your own pocket before the insurance coverage kicks in. Typical deductibles are $100, $250, $500 or higher and some policies have several deductibles. The higher the deductible you select, the lower your premium payment is. What are Personal Property Exclusions and Limits of Coverage? Certain classes of property are specifically excluded from coverage because of the nature of what they are or because they are generally covered by other types of policies (check your policy for a complete list): • Animals, birds or fish • motorized vehicles or aircraft, including equipment and accessories • radios, CB radios, tape decks, etc., while in or on a motor vehicle • articles separately described and specifically insured in any other insurance • property of boarders (renters insurance is available and should be considered by boarders). • aircraft or aircraft parts • property in an apartment held for rental by the insured • property rented to others off the residential premises Certain classes of property have specialized limits of coverage: • money or related property, coins and precious metals other than tableware • securities, manuscripts, and other valuable property • water craft, including trailers and equipment • trailers • grave markers • loss by theft of jewelry, watches, furs and semi-precious stones • loss by theft of firearms • loss by theft of silverware, goldware or pewterware.
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