The home insurance policy is one of the most misunderstood policies that an individual can purchase. Many changes to this type of insurance policy have occurred through the years to expand what is covered and also to clarify what the policy excludes. Our dedicated protection team will guide you through this selection process to make sure you are comfortable with the various provisions and coverages within the homeowners’ policy.
To be very clear, the ultimate purpose of homeowners insurance is to enable the homeowner to rebuild his or her home and life, even in the event of total destruction.
A good homeowners insurance policy will cover:
- Your residence
- Any detached structures, like garages or garden sheds
- Your personal belongings
- Additional living expenses in the event of a loss
- Personal liability
- Medical expenses to others who may be injured on your property
Frimark/Keller & Associates will provide you with the most comprehensive policy available on the market today which will help to put your life back in order in the event of a catastrophic loss.
Not all home insurance policies are alike. To be sure, there are many insurance companies in the market today that will quote an inexpensive policy but most of them are only giving you the “bare bones” coverage. When quoting your home insurance premium, we will use a full replacement cost valuation to be sure that you can replace your home in the event of a total loss.
Most common types of homeowners insurance policies:
- HO3 - Special Form Homeowner Policy: The typical, most comprehensive form used for single-family homes. The policy provides "all risk" coverage on the home with some perils excluded, such as earthquake and flood. Contents are covered on a named peril basis. (Note: "All Risk" is poorly termed as it is essentially named exclusions (ie, if it is not specifically excluded, it is covered)).
- HO4 - Renter's Insurance: The "Tenants" form is for renters. It covers personal property against the contents. An HO4 generally also includes liability cover for personal injury or property damage inflicted on others.
- HO6 - Condominium Policy: The form for condominium owners. It is designed for the owners of condos and includes coverage for the part of the building owned by the insured and for the property housed therein.
We will also make sure you are clear about any areas of the policy that have limitations and exclusions. Items such as earthquakes, landslides and floods are excluded from the policy but may be purchased separately.
Other items such as jewelry, coins and collectible items have limitations in the policy but can be added by providing appraisals and paying a small additional premium.
Discounts are available for newer homes, central station alarm systems, higher deductibles and even for seniors.
As you can see, our protection team understands the way home insurance works. Let us identify the kind of policy and coverage you need while working hard to provide you with the best value.