Homeowners Insurance

RECENT NEWS
Insurance Journal  Aug 14  Comment 
Homeowners with poor credit pay 91 percent more for homeowners’ insurance than people with excellent credit, according to a study by an online insurance shopping service. The report by insuranceQuotes.com also found that homeowners with median...
The Times of India  Aug 11  Comment 
Premiums in fire insurance are calculated on the value of the building. Currently, the rates being quoted at five paisa, per Rs 5,000. Suppose the current value of the building is Rs 10 lakh, the annual premium is just Rs 50.
Insurance Journal  Aug 4  Comment 
Homeowners in the Grand Chenier area will be paying less for fire insurance starting in August because of a higher rating awarded to the local fire district. The American Press reported the rating for Cameron Parish Fire District 9 was … The...
DailyFinance  Jul 31  Comment 
American Water Resources, a provider of Service Line Protection and In-Home Plumbing Emergency Programs, is offering Water Line and Sewer Line Protection to homeowners in New Hampshire. Until a homeowner experiences...
Insurance Journal  Jul 28  Comment 
Florida homeowners’ insurer Federated National Holding Co. and the Canadian bank and investment manager C.A. Bancorp Inc. have agreed to form a new Florida-based homeowners insurance carrier to be named Monarch National Insurance Co. Both FNHC...
Insurance Journal  Jul 22  Comment 
They’re often the first ones on the scene of major emergencies, but their numbers appear to be dwindling. Volunteer firefighters help communities in ways both obvious — fighting fires—  and overlooked — improving communities’ home...
The Hindu Business Line  Jul 20  Comment 
Bajaj Allianz’ My Home Insurance offers a comprehensive shelter against risks that can befall your home
Insurance Journal  Jul 18  Comment 
Insurance Commissioner Jim Donelon has asked State Farm Fire and Casualty Co. (State Farm) to offer its Louisiana policyholders Louisiana the option of a 2 percent hurricane deductible on their homeowners’ insurance policies by paying the...
Insurance Journal  Jul 17  Comment 
North Carolina’s insurance commissioner has postponed until October a hearing into a request by homeowners insurance companies to raise rates by an average of 25 percent statewide. Commissioner Wayne Goodwin said the public hearing to be held in...




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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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