homeowners insurance

Homeowners Insurance

A binding, legal contract between the policyholder and the insurance company to protect their home and belongings if they are damaged, destroyed or stolen.

House

Apartment or Condo

Mobile Home

Protection is provided against losses caused by fire, water damage, storm, theft, and other perils

Who & what are protected? Anyone named in the policy: spouse,

children, residents or guests

It can Protect detached structures too: garages, sheds, pools

Renters Insurance protects individuals who live in a house,

mobile home, condominium, or apartment that is owned by another person

Protects against:• Theft• Loss of personal property• Loss of use

Renters Insurance An average two bedroom apartment can

easily contain personal property that would cost more than $20,000 to replace

How much does your room cost?

Renters Insurance landlord or association may have

insurance, but it only protects their building

Your belongings are not covered under their policy

Actual Cash Value (ACV) ACV coverage only pays for what the

property was worth at the time of loss, its current value.

Replacement Cost

• Replacement cost coverage will pay what it actually costs to replace the items you lost.

How to Reduce Risk Keep an inventory of your personal

belongings Keep receipts for major items Lock your doors Use your deadbolts Don’t let your house look vacant Maintain your home