If you own your home, it is most likely the biggest investment that you will ever make. It is essential that you protect your investment and your family’s future with the right amount and kind of insurance.
You have worked hard in life to establish yourself. Your home is a big part of that- you eat there, you sleep there, you socialize and entertain there. You worry about something happening to your home.
Let us help you understand the risks you face and the protection available against those risks. We work with you to find the right coverage for your personal situation- so you only have to worry about enjoying being in your home!
Our licensed, experienced staff can help you get the best insurance available and help you stretch your hard earned dollars as well. Call or email us today for a FREE home owners insurance consultation.
8 Coverages You Need In Homeowners - http://bit.ly/1fUcxQM
We can cover these types of homes and situations:
- Homeowner Primary Residence Tenant or Renter Mobile Home Condo Seasonal (some restrictions may apply)
- Vacant (while for sale or remodeling) Farm (some restrictions may apply)
“Why we choose to insure with Wilson Insurance Management? Everyone at Wilson Insurance Management is always ready to help in any way they can. We are never a number but a valued client with a name. On one occasion we had a theft from our home; we were devastated. Darien took care of everything so quickly and efficiently that we had hardly any disruption to our daily lives. She truly does have our best interest in mind at all times.” ~ Perry & Darlene
A sailboat’s stolen from your yard. Covered? A motorcycle’s damaged in your driveway. Covered? Your home is damaged due to a sewer line break. Covered?
The answers, in brief, are: depends, depends and depends, based upon specific policies and circumstances. Not all homeowners have the same insurance needs. It is important that you understand the coverages homeowners insurance policies include as well as the optional coverages you can purchase. Different policy types are available depending on your preference – guaranteed replacement cost, functional replacement cost, stated value.
For “stick built” homes, the reconstruction/replacement cost can be determined using a computer software that accounts for local building costs, size of home, exterior and interior features. For modular or manufactured homes, the policyholder must provide us with the desired replacement amount.
Different policy types are available for either Named Perils or Comprehensive Perils (most common)
- Dwelling: provides property protection that protects your house and attached structures if damaged by certain events; including fire, wind damage and weight of ice, snow or hail.
- Other structures: provides protection to other structures at your premises that are not attached to the dwelling. Items covered include detached garages, tool sheds, etc. Coverage is normally limited to 10% or 20% of the Dwelling limit however more coverage is available for additional premium.
- Personal Property: provides protection for the contents of your home and other personal belongings owned by you or family members who live with you. Coverage is limited on certain types of property that are especially susceptible to loss, such as cash, securities, jewelry, furs and guns. Depending on the policy type selected, replacement cost protection may be automatically included or may be available via endorsement for an additional premium.
- Loss of Use: this coverage will help with additional living expenses if your home is damaged by a peril insured against to the extent that you cannot live in your home. These expenses include, but are not limited to, housing, meals and warehouse storage.
- Personal Liability: this section of the homeowners policy will provide coverage in the event you or a resident of your household is legally responsible for injury to others or damage to others’ property. We recommend a minimum of $100,000 and strongly encourage consideration of $300,000.
Other optional coverages are available as endorsements and include, but are not limited to:
Enhancement endorsement * Water backup and sump overflow * Incidental business * Earthquake * Additional Dwellings * Identity Recovery
Farm liability (varies by extent/type of farming) * Professional liability such as nurses, barber/beauty shop * Siding/roof restoration * Replacement cost
Watercraft liability and/or watercraft physical damage * Umbrella/Personal Catastrophe Liability * Coverage for Valuables (guns, jewelry, electronics, collectibles)
Multi-policy discount * Advanced quote discount * Longevity * Life multi-policy discount * New Home Discount * Fire, burglary alarm, sprinkler system credit
A recent survey by the National Association of Insurance Commissioners (NAIC) reveals that many homeowners misunderstand what’s included in their homeowners policies.
The survey revealed a number of misunderstandings relating to common losses:
- 35 percent of respondents think damages from earthquakes are covered. Just like other carriers, Erie Insurance homeowners policies specifically exclude earthquake-related claims. An endorsement can be purchased for losses that arise from an earthquake event.
- 34 percent of survey participants think damages from mold are covered. Moisture damage such as rust, rot, mold and mildew is specifically excluded in most standard Erie Insurance policies. Mold contamination is only covered on a limited basis, and only if it is the result of a covered peril.
- 22 percent of respondents think pets stolen from or injured on their property are covered. This is another “depends” situation; there is no coverage for theft of a pet under most Erie Insurance policies, although injuries may be partially covered based upon the policy specifics.
- 31 percent of people who took the survey think damages from termites or other infestation are covered. According to Matrogran, most policies do not cover such claims.
The professionals at Wilson & Sites are available for appointments at your convenience to assess your insurance needs to make sure that your home and your family are protected, both today and tomorrow. Simply call us at 574.834.5701 or 260.982.6633 today!