Homeowners Insurance

RECENT NEWS
Forbes  Apr 25  Comment 
Does having a bad credit score impact the cost of your auto or home insurance policy? For residents of most states, the answer is “yes”, though whether or not this is a positive thing is up for debate.
Insurance Journal  Apr 20  Comment 
The homeowners insurance line, not often thought of as a bastion of change, is actually quietly evolving beyond the traditional “one-size-fits-all” business. Some of the puzzle pieces that make up homeowners insurance are changing shape and...
Insurance Journal  Apr 6  Comment 
Weather incidents account for more than half of all homeowners insurance claims, with wind, pipes freezing and bursting, roof and flashing leaks and ice dams among the major causes of home damage during weather events. Fire-related claims are the...
MarketWatch  Apr 6  Comment 
This is what chases the most homeowners insurance claims.
Financial Times  Apr 3  Comment 
Affluent areas to benefit most from nationwide home insurance plan
Insurance Journal  Mar 30  Comment 
Tom Capp has joined the senior management team for the online auto and home insurance agency Answer Financial. Capp, as senior vice president of Business Development, will be working to grow the company’s network of business partners. Capp...
Financial Times  Mar 28  Comment 
Seven of 10 big insurers say they will pass levy on to customers
Insurance Journal  Mar 23  Comment 
The Senate Business and Commerce and the House Insurance Committees of the Texas Legislature have requested data from the Texas Department of Insurance related to weather-related property claims, the incidence of lawsuits related to these claims,...
Insurance Journal  Mar 10  Comment 
The Travelers Companies, Inc. will now provide a discount on homeowners insurance for eligible customers with qualifying smart home devices. Smart smoke detectors and security systems that alert homeowners through their smartphones may qualify for...
MarketWatch  Mar 1  Comment 
Standard homeowner’s insurance offers only limited coverage, says Nat Worden.




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Understanding Homeowners Insurance

Property Protection

  • Dwelling usually covers the house, any attached structures, house fixtures, plumbing, heating, in-built air conditioning systems and electrical wiring.
  • Other Structures, other than those used for business purposes, covers detached structures like garages, storage sheds and land fixtures.
  • Personal Property covers all personal items in your home that are owned by you or family members who live with you. Protection for these items depends on actual cash value or replacement cost.
  • Loss of Use covers expenses in excess of your normal living expenses should you be forced to live anywhere other than your home during repairs or a government injunction.
  • Endorsements can be added to your homeowners insurance policy at an additional cost to provide extra protection against occurences like theft, inflation, credit card forgery etc.

Liability Protection

  • Personal Liability protects you and family members that live with you from a claim or lawsuit arising from bodily injury or property damage to others caused by an accident on your property. It generally does not provide protection for vehicle- and business-related incidents.
  • Medical Expenses, as the name indicates, pays the medical expenses for individuals who are accidently injured on your property, regardless of who is at fault for the injuries. It does not cover injuries to you or family members that live with you.
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