If you would like a quote
for Home Insurance, please click on the link to the left and complete the
online form or if you'd rather, you may call our office at
(641)
447-2544
so that we can provide you with the personal attention you deserve with
your Home Owner/Rental protection.
The characteristics of your
home are more than just your house. Some of the characteristics of a home
include the fence in the backyard, your garage, jewelry, and most
importantly, your family. Homeowners insurance is designed to give you a
sense of security, knowing that whatever happens, you will always have a
dwelling to live in. By looking below you will be able to learn more about
the different coverages that are offered.
The Basic Policy
The basic homeowners policy
consists of six different parts. Each of these parts assumes different
responsibilities in providing coverage for your home.
House:
This part of the policy tells how your house is, or isn't covered. It is
important to make sure that the total amount is equal to rebuilding costs,
not the market value.
Other Structures:
This part of the policy provides coverage for structures that are not
attached to your house. The limit on this type of coverage is usually set
at 10% of your total home coverage.
Personal Property:
This part of the policy provides coverage for personal belongings. This
includes furniture, standard electronics, clothing, etc. You may also
receive coverage for times that you are away from home and credit card
misuse/theft. The limit on this type of coverage is usually set at 40-50%
of you total home coverage.
Loss of Use:
This part of the policy provides coverage if your home is damaged to the
extent that it is inhabitable. This type of coverage will provide for
expenses incurred while you are living away from home because you are
waiting on repairs, rebuilding, etc.
Personal Liability:
This part of the policy provides coverage if someone were to become
injured while on your property. Some examples of this include a friend's
child is injured on a swing set, or someone experiences a dog bite.
Personal liability will provide coverage to help pay for legal defense in
the event of a lawsuit.
Medical Expenses:
This part of the policy provides coverage to help pay medical bills of
those who are injured while on your property or through your personal
activities (parties, backyard soccer game, etc.).
Types of Coverage
There are four types of
Homeowner policies to choose from. Each of them offers their own type of
coverage. There are also two types of coverage methods: Named and
All-risk.
Named:
Named insurance methods only cover what is detailed in the policy. If
something is not mentioned in the policy, then you are not covered for it.
All-risk:
All-risk is just the opposite of named. All-risk lists the exclusions to
the policy and provides coverage for whatever is not mentioned. It
generally provides better coverage than Named. The limits of policy
coverage will vary from carrier to carrier. No policy will cover acts of
war, floods, nuclear events, or earthquake. Flood and Earthquake
protection can be purchased with separate endorsements.
