Homeowners

HOMEOWNERS INSURANCE COVERAGE

For many of us our home is our most valuable possession. The time to think about the unthinkable disaster is before it happens to you. If your home were damaged or destroyed, insurance can help you repair or rebuild your home and replace damaged possessions.

 

The main purpose of insurance is to protect you against losses you cannot afford. Few people have the financial resources to rebuild their homes. In addition to protecting your home and possessions, homeowners insurance also provides liability coverage to protect you from financial ruin if someone is injured on your property and sues for damages.

 

A homeowners insurance policy consists of coverage for your dwelling and your personal property. It also includes liability insurance which pays for injuries to other people or damages to their property accidentally caused by you, your family or your pets. You also can buy several types of additional insurance for property that is not listed in your homeowners policy or for perils not covered — such as flood — for which you need a separate policy. You do this by either buying a separate policy or by adding an endorsement or rider to your policy.

Lower Your Premium

Here are some simple steps you can take to reduce your homeowner’s premiums:

  • Raise Your Deductible – A deductible is the amount you pay before the insurance starts to pay for your loss. Since the purpose of insurance is to pay for the losses you cannot afford, raise your deductible to a limit that you could handle in case of a loss.
  • New Home – If your home is less than 10 years old, you may be eligible for a new home discount. The newer the home, the bigger the discount
  • Fire and burglar discounts – You may be eligible for a discount if you have installed Double Cylinder Deadlocks (DCDs), a burglar or fire alarm system. Monitored systems will earn an even larger discount.
  • Construction Material – If you own a home that is constructed out of fire-resistant materials such as brick or masonry, you will pay a lower premium than one which is frame construction. If you have fire hydrants, you will have a bigger discount applied that those who do not.
  • Non-Smoker/Non Drinker Discounts – Are available from many of our companies.
  • Multi-Policy discounts – Place your home and auto insurance with the same insurance company and enjoy a combined savings of up to 29%.