Whether you live in a home or an apartment, homeowners insurance can protect your valuables. A homeowners policy can provide funds to replace any assets that were destroyed in a disaster or fire. If someone were to be injured in your home or apartment, a homeowners policy can protect you from a potential lawsuit.
The cost and quality of a homeowners policy are determined by a few different factors. The cost can be determined by rating factors while the quality depends on which the policy is written under. If the policy is under a named perils, it will only cover those within the contract. If the policy is written under an all-risk basis, it is broader and burden of proof falls on the carrier and not the holder.
Damages that are EXCLUDED from your standard homeowner policy:
- Water Backup/Sump Overflow
Coverage may be purchased for the above exclusions. There is also a new valuable endorsement you can buy – Home Systems Protection and Service Line coverage. Umbrella policies are also available. Please call us for more details about any of these options.