Information for Homeowners

Knowing the right stuff can make sure you get the right price!

Home insurance comes in many different policy forms adapted to the type of home.  There is homeowners insurance (hazard insurance), condo/co-op insurance, landlord (tenant) insurance, renters insurance, builders risk insurance.  Polices are further broken down to categories such as seasonal or secondary homes, vacant homes for sale or vacant homes under renovation.  Another classification is single family, two family or even multi family homes.

Once a home is categorized by its use several underwriting questions are utilized to determine the rate.  The questions include but are not limited to things like, the year the risk was built, gas heat or oil heat, a flat roof or a pitched roof.   When were the utilities last updated. Is there a swimming pool, a fireplace or a dog.

The coverage section is when a knowledgeable insurance professional is key.  There are so many options to sort through.  Replacement cost coverage vs actual cash value (ACV).  dwelling, dwelling extensions, personal property, liability, medical payments, personal injury, water backup, all peril deductible and hurricane deductible to name a few.

Knowing and understanding your coverage is key to not being unpleasantly surprised by a coverage gap if you experience a homeowners claim.

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