Home Insurance Questions

Being a homeowner is a huge responsibility and insurance can play a key role in protecting your investment and your standard of living.

Below is a list common questions regarding homeowners insurance.

How much would it cost to rebuild my home in the event of a total loss?

Most homeowners insurance policies should cover the cost of building a new home from scratch. It’s important to have an agent that has the knowledge of your neighborhood, and familiarity with the construction materials used when your home was originally built and can accurately calculate this cost. Many homeowners policies cover partial or total damages caused by fire, hurricane, hail, lightning or any other disasters listed in your policy. Flood and earthquake-related losses must be insured separately because both perils are excluded in standard homeowners insurance policies.

Should I buy a flood and/or earthquake insurance policy?

If it rains where you live, yes, you need to buy a Flood Insurance policy. As mentioned above, most standard homeowners insurance policies exclude Flood damage.

We represent some top home insurance companies that offer a unique coverage called Inland Flood Coverage. This coverage can provide flood coverage for your home. Be sure to ask us about this important option for your insurance.

Earthquake insurance for homeowners is a very important coverage. Earthquakes can cause much harm to home structures. They can damage housing foundations and collapse walls; even relatively mild tremors can destroy furnishings and belongings. Earthquake coverage is available in the form of a separate policy or an endorsement.

How much liability protection do I need if I get sued?

Liability Insurance covers you against lawsuits for bodily injury or property damage that you, or your family members, cause to other people. It also pays for damage caused by your family pets. The liability portion of your policy pays for both the cost of defending you in court and any court awards—up to the limit of your policy. Liability limits generally start at about $100,000. We recommend that you purchase at least $300,000 of liability insurance coverage protection. Many of our clients have have significant assets and need more liability protection than is offered under the standard homeowners policy limits. For these clients we offer and strongly advise that they purchase an Umbrella Insurance policy to protect them from the large liability claims that could occur.

What types of Home Insurance Discounts do I qualify for?

There are many discounts offered through our top home insurance companies. Smoke detectors, burglar alarms and/or dead-bolt locks in your home can often get a premium rate discount. Let us have a conversation to discuss the discounts that may available to you. If you live in a gated community, for instance, you may qualify for a discount from some of our companies. If you have completely modernized your plumbing, roof, and electrical system recently, you may get a price break.