Homeowner Insurance

from Retailers Insurance Group

Homeowner Insurance

Your home is your most valuable asset, both as an investment and as your sanctuary. When your home is damaged or destroyed, due to fire, theft, vandalism, or other covered event you need your home insurance claim settled by a company that understands this simple fact.The right policy can provide you peace of mind as well as money to repair or replace your property and belongings. Coverage availability and prices will vary by company. Retailers Insurance Group can help you determine which of several companies we represent.

Don’t forget this policy also provides liability coverage.It will protect you in the event someone is injured while on your property and wins a legal judgment against you.It will also protect you if you should accidentally cause injury elsewhere.Examples are someone tripping over your size 12’s at the local restaurant or you’re as distracted shopper you operate your cart into a fragile elderly person.Note this does not protect you for motor vehicle accidents for that you should have auto insurance.

Home Insurance

Homeowners insurance policies differ by which losses are covered, which coverages you choose, and what type of residence you own.Our job is to assist you in choosing the policy that is best for you, whether it’s a comprehensive policy that cover losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or whether it’s a policy that covers only specified losses.

Types of Coverages

The four types of insurance coverage are:

  • Structural — Covers damage to your home or dwelling.
  • Personal Belongings — Covers damage to items in or on your home or dwelling. Special possessions such as jewelry, art, antiques, and collectibles require enhancements, don’t forget to ask us about special possessions.Also toys, like boats, four wheelers, snowmobiles require special coverage.
  • Liability Protection — Covers your legal responsibility for injuries or damage to other people or property.
  • Additional Living Expenses — Covers costs for temporary housing, meals, etc., while your home is being restored or rebuilt.

Structural and Personal Belongings coverages are available on an actual cash value (ACV) basis or at full replacement cost. ACV coverage considers the current market value of an item based on its age and condition. So, if you purchased a television for $400 four years ago, the value today would be significantly less than it was when you purchased it. ACV coverage would depreciate the item's value to determine the current value. Full replacement cost considers the current cost to replace an item.

Your Responsibilities

Make an inventory of your home and personal belongings. If possible, make a list as well as take photos or video - using two inventory methods can help expedite the claim resolution process. Keep this list somewhere other than your home. Keep in mind that your homeowners insurance policy doesn't cover damages caused by poor or deferred maintenance on your part.