Homeowners insurance is the second of the two crucial building blocks of a Personal Insurance Protection Package. It needs to be constructed correctly in conjunction with a great plan and a qualified counselor like Fraleigh and Rakow so that your coverage will be available and adequate at the time of loss.
Homeowner insurance consists of several separate but important segments:
In the most simple terms:
Dwelling Coverage – This is the base coverage that is the amount that you and your insurance company agree that the home can be rebuilt for.
Appurtenant Structures – This is coverage for any other structures on your property with certain limitations.
Personal Property – This is the coverage that will be accessed to replace all of your personal belongings.
Loss of Use – This is the coverage that will pay the expenses that you incur from the inability to use your home due to a covered loss.
Personal Liability – This is arguably the most important coverage afforded by a homeowners policy. This coverage protects you from lawsuits brought by a third party for almost any reason. Like in an auto policy it provides coverage for both attorney fees and compensatory damages.
Optional Coverage offered by Fraleigh and Rakow
Cash out option
Utility Line Coverage
Guaranteed Replacement Cost
Replacement Cost Contents
Ordinance or Law
Valuable Items Coverage
Come in or call or email Fraleigh and Rakow for further education on the intricacies of your insurance plan and more importantly your needs.