Home Insurance

Cover your assets with Homeowners Insurance!

Did you know that Home Owners Insurance covers more than just your house.  It can cover your land, outside structures, the home, its contents, even the trees.  Homeowners also includes renters insurance and condo insurance.

How to cover your Property

There are many categories when it comes to Home Insurance and different variables within those categories. Whenever you buy a certain type of policy, whether its an HO-3 which is the lowest limits possible or an HO-7 each category will cover different values.

  • Dwelling – This is the house or dwelling.  You can determine the amount that is covered here with certain choices that we will explain below.
  • Other Structures –  This would include out buildings, garages, and other structures not attached directly to the dwelling structure.
  • Personal Property – These are the contents of the home.   Your personal belongings so to speak.  When purchasing insurance its usually a great idea to catalog with pictures or spreadsheet the items you have in the dwelling.
  • Loss of Use – Should something happen to your home and you are displaced from the structure, Loss of Use covers things like hotel stays until the damage can be repaired.

When choosing your dwelling options you need to make sure you are getting enough coverage.  You do have options and in some cases, options within options.  Don’t skimp on coverage to save a few dollars per month.  You may wish you had not in the event of something unfortunate.

  • Replacement Cost Coverage –  If you choose this coverage type it will pay to replace the home based on what it might cost today.  In other words if your home were built in 1985, chances are it would cost more to replace it today.  This makes sure you don’t have a gap.  You can also choose a percentage of how much it will pay here.  Of course the higher the percentage the more the premium.  We recommend that you never go lower than 80%.  So if your home were completely destroyed your insurance would pay 80% of the replacement cost.
  • Actual Cash Value – Choosing this coverage option would pay what the actual cash value of the home.
  • Special Payment – This is usually an arrangement agreed upon by both parties and sum would be paid to the insured prior to any damages being repaired.
  • Functional Replacement Cost or Market Value Coverage – Payment is made based on the Market value of the home and no depreciation is factored in.
  • Stated Value – Both the insured and the insurer agree upon a stated value for the home and in the event of incident that is the amount paid out.

Always tell your insurance agent what you need.  Get the best coverage for your home.  No one wants to think about it but if something bad did happen having enough of the right coverage could make a horrible situation a little easier.  Check this out for more information on Home Insurance 


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