DWELLING PROTECTION
Dwelling protection is one of the basic coverages in a homeowners policy, covering the “structure” of your home. It also covers things attached to your home, such as a garage or deck. This protection helps if you need to rebuild or repair your home. It’s important to understand coverage limits, deductibles and what type of damage is covered. Our agents’ proactively help you think through risks you have as a homeowner and help determine the coverage limits that work for your needs.
OTHER STRUCTURES ON YOUR PROPERTY
This part of the policy is typically for detached garages, fences, sheds, etc. Many times, this option is a percentage of your dwelling protection. For example, if the dwelling (the home you live in) has a coverage limit of $250,000, your other structures may be covered up to $25,000. Our agents will help make adjustments to coverage limits based on your entire property.
PERSONAL PROPERTY
Your belongings — such as furniture, clothing, jewelry and electronics — are as unique as you are. This part of your policy is designed to help protect your personal items. The details are important; repair or replacement of personal property can be determined by the cost to replace the item or by its current value, depending on the insurance carrier you choose. If you have personal belongings worth more than your coverage allows, like a wedding ring, a rare baseball card collection, vintage toy set, etc., discuss your options with our agents.
LIABILITY
This coverage applies to injuries a guest may incur inside or outside of your home, as well as property damage you or people covered on your policy are responsible for causing. If you are found legally responsible for injuries that happen as a result of an accident on your property, you may be responsible for costs associated for things such as medical expenses, pain and suffering, lost wages, death benefits and legal costs. If your policy includes property damage as well, you may be covered for damage you do to someone else’s property. Work with our agents to understand what you’re covered for.
REPLACEMENT VALUE vs. MARKET VALUE
REPLACEMENT COST
is the cost necessary to repair or replace your entire home.
MARKET VALUE
is the amount a buyer would pay to purchase your home and land in its current condition.
If you choose to insure the market value of your home, depending on market conditions, its value may not be enough to fully replace your home. Our experienced agents will help you understand your options.
