Frequently Asked Questions

No. You should insure it for the cost to rebuild, not market value. This way, if there is a partial loss to the building, you will be reimbursed for the cost to replace the partial loss.

For the building, it means the cost to rebuild at today's cost. As long as your amount of insurance on the building equals the cost to rebuild, you will get replacement cost at the time of loss. A complication can arise if you are required to improve the building to meet current building codes. Some policies include a limit of 10% of the amount of insurance on the building to cover the increased cost of construction to meet code. Ask us, especially if your home is older. For contents, it means today's prices of your personal property. Antiques and fine art values are subject to limitations.

You should buy specific insurance for unusual items of high value. The value is set by appraisal. The coverage is more extensive than the standard policy. Most often, there is no deductible. Cost is surprisingly low.

The special coverage values jewelry at appraised amount. It also covers disappearance, loss of a stone from the setting, and recognizes loss to one of a pair. Most often, there is no deductible. The standard policy limits the amount available for theft to $2,000 to $5,000 depending on the company, there is no coverage for disappearance or loss of a stone, and the policy deductible applies to any loss.

No. There is no coverage for either property perils or liability. You need separate policies.

Yes. The standard homeowner policy does not cover liability for your business. A small amount of business contents may be covered as long as you operate as a sole proprietor. Separate buildings used for business are not covered. The right coverage can be added by either adding it to your homeowner policy or writing a commercial policy. Ask us.

First, make sure that the dwelling is insured for the cost to rebuild. If not, you will not be fully compensated if you have a claim. Any "savings" at the expense of inadequate insurance will be costly. You can reduce premium by taking a higher property deductible-remember that the deductible applies to claims for both building and contents. Theft of your personal items from a parked and locked car is a homeowner claim and subject to your deductible. There are credits for certain alarms, including smoke detectors. If your house is more than 25 years old, there are credits for renovations to plumbing, heating, electrical systems, and roofs. If you insure your cars with the same company, you will get a discount on your homeowner policy. Many companies have their own specific discounts. An agent who represents more than one company can suggest one which fits your circumstances.