Home Owners' Coverage
If you would like a quote for Home Insurance, you may call our office at 1-641-782-4626 so that we can provide you with the personal attention you deserve with your Home Owner/Rental protection
The characteristics of your home are more than just your house. Some of the characteristics of a home include the fence in the backyard, your garage, jewelry, and most importantly, your family. Homeowners insurance is designed to give you a sense of security, knowing that whatever happens, you will always have a dwelling to live in. By looking below you will be able to learn more about the different coverages that are offered
Types of Coverage
There are four types of Homeowner policies to choose from. Each of them offers their own type of coverage. There are also two types of coverage methods: Named and All-risk.
Named: Named insurance methods only cover what is detailed in the policy. If something is not mentioned in the policy, then you are not covered for it.
All-risk: All-risk is just the opposite of named. All-risk lists the exclusions to the policy and provides coverage for whatever is not mentioned. It generally provides better coverage than Named. The limits of policy coverage will vary from carrier to carrier. No policy will cover acts of war, floods, nuclear events, or earthquake. Flood and Earthquake protection can be purchased with separate endorsements.
The Base Policy
House: This part of the policy tells how your house is, or isn't covered. It is important to make sure that the total amount is equal to rebuilding costs, not the market value.
Other Structures: This part of the policy provides coverage for structures that are not attached to your house. The limit on this type of coverage is usually set at 10% of your total home coverage.
Personal Property: This part of the policy provides coverage for personal belongings. This includes furniture, standard electronics, clothing, etc. You may also receive coverage for times that you are away from home and credit card misuse/theft. The limit on this type of coverage is usually set at 40-50% of you total home coverage.
Loss of Use: This part of the policy provides coverage if your home is damaged to the extent that it is inhabitable. This type of coverage will provide for expenses incurred while you are living away from home because you are waiting on repairs, rebuilding, etc.
Personal Liability: This part of the policy provides coverage if someone were to become injured while on your property. Some examples of this include a friend's child is injured on a swing set, or someone experiences a dog bite. Personal liability will provide coverage to help pay for legal defense in the event of a lawsuit.
Medical Expenses: This part of the policy provides coverage to help pay medical bills of those who are injured while on your property or through your personal activities (parties, backyard soccer game, etc.).