| Q: |
How can I reduce my premiums? |
| A: |
You may want to consider raising your deductible which could result in substantial savings. (The deductible is the amount you must be able to pay in the event of a claim.)
Discounts based on features that make your home a better insurance risk can reduce the cost of your homeowners insurance. Current credits available include deadbolt locks, fire protection systems, new buildings, smoke alarms, nonsmoker, etc. |
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| Q: |
How much insurance do I need? |
| A: |
Determine the amount of insurance that you need to replace your home.
Purchase the needed amount of Personal Property and Personal Liability insurance.
Custom-tailor your policy by selecting endorsements that you need.
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| Q: |
What is "actual cash value"? |
| A: |
When "actual cash value" is used in a policy, a policy owner is entitled to the depreciated value of the damaged property. |
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| Q: |
What is replacement cost"? |
| A: |
When you choose a Replacement Cost endorsement, in the event of a loss, you will be reimbursed the amount required to replace your home or personal property with one of like kind and quality at today’s prices. |
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| Q: |
Why should I schedule individual items such as jewelry, instruments, computers, etc.? |
| A: |
Many types of personal property have limitations or uninsured perils under your
Homeowner policy. For example, if you discover that a diamond has fallen
from your ring, the loss is not a covered peril. If the ring was stolen, the loss would be limited to $1000 under a standard Homeowner policy. However, if the ring was scheduled on a Personal Articles Floater, both examples would be fully insured with no applicable deductible. |
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| Q: |
Do I need Earthquake insurance? |
| A: |
If your home is in an area that is affected by Earthquakes, you should consider adding an earthquake endorsement to your Homeowner policy as damage resulting from earthquakes are not covered by a standard Homeowner policy. |
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| Q: |
Do I need Flood insurance? |
| A: |
If your home is located in a flood plain as defined by the US Government Flood Maps, you should consider purchasing a Flood insurance policy. Our agents will be happy to provide a quotation for you. |
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