homeowners insurance
DESCRIPTION
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. - PowerPoint PPT PresentationTRANSCRIPT
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