Homeowners Insurance

RECENT NEWS
Insurance Journal  Nov 17  Comment 
Rutgers Law School’s Camden, N.J., location, in collaboration with United Policyholders, is seeking to improve homeowners’ insurance nationally through its recently launched project. The Rutgers Center for Risk and Responsibility at Rutgers...
Insurance Journal  Nov 16  Comment 
Nashville, Tenn.-based Velocity Risk Underwriters announced it is offering coastal wind-only homeowners insurance policies for customers that may otherwise be insured in the Texas Windstorm Insurance Association (TWIA). Velocity’s homeowners...
Insurance Journal  Nov 10  Comment 
A federal judge said Bill Cosby’s homeowner’s insurance company must defend him against three civil defamation lawsuits in Massachusetts brought by several women who accused the once-beloved entertainer of sexual abuse. In a decision on...
Insurance Journal  Oct 28  Comment 
Wallace & Associates Insurance Agency, based in Jackson, Mo., recently hired Ron Brown as its property/casualty producer. In this position, Brown will handle automobile and home insurance for new and existing accounts, as well as specialize in...
Insurance Journal  Oct 27  Comment 
A study of home insurance trends reveals good news for home insurance carriers: homeowner claims continue to decrease and loss costs are flat or on the decline. The 2016 LexisNexis Home Trends Report notes that while the U.S. has already …
MarketWatch  Oct 10  Comment 
Riskiest areas see fewer homes insured fall as premiums rise
Insurance Journal  Oct 10  Comment 
Lemonade, the peer-to-peer insurtech startup that launched only a few weeks ago on Sept. 21 selling renters and homeowners insurance in New York, sold 142 policies and generated $14,300 in gross written premium in its first 48 hours. In an …
Yahoo  Oct 7  Comment 
You’ve bought a home, and it sure feels good to be the king or queen of your castle…that is until your hot water heater bursts and your basement is covered in a foot of water. Unlike car insurance, there’s no legal requirement for...
MarketWatch  Oct 6  Comment 
Florida, a major homeowners’ insurance market, is bracing for a category 4 storm that is expected to make landfall on Friday.




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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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