Property Coverage:

This includes your home, condominium, rental property and personal property coverage.  Surprisingly, close to 70% of policy holders do not understand what their policies cover and most important, what they do not cover.  An example of this would be on specific items such as fine arts and jewelry coverage.  These items are covered under your primary policy however they are only covered for limits stated within the policy which is usually $1,200 to $1,500.  A wedding ring valued at $10,000 would only be covered for $1,200.00.  You can increase these set limits or actually schedule an item for the dollar amount listed in an appraisal or on a receipt.

Today more than ever it is important to know what your policy covers you for and what it does not.  Making sure you are fully protected is our goal.  Following is a brief description of what each policy form covers.

Homeowners Policies: 

This policy is designed for owner occupied dwellings and cover’s you on the home itself, other structures located on the property, your personal property, additional living expense which would kick in if you needed to stay at another location due to a covered loss, liability and medical payments.

Condominium Policies:

This policy is designed for *owner & tenant occupied units and is perhaps the most misunderstood policy form written. Most Homeowners Associations insure the outside of the unit (known as walls out) under a “Master Policy”.  The owner of the condo unit is responsible for the inside (walls in).  Many people think the association policy will cover their unit when in fact they are responsible for it.

The Condo policy also covers you for your personal property, additional living expense along with providing liability and medical payments.

Dwelling Fire Policies:

This policy is designed for tenant occupied dwelling and cover’s you for everything listed under the Homeowners policy using different policy language.

For example, the additional living expense coverage would come under Loss of Rents and this would pay any missed rent monies while the tenant is displaced due to a covered loss.  The liability coverage is designed to cover landlords instead of owner occupied dwellings.

Renters Policies:

This policy is designed for people renting their home, apartment or condominium and provides coverage on their personal property along with including coverage for additional living expense, liability and medical payments.

Additional Coverage

Beyond usual and customary coverage, you may want to consider additional coverage such Earthquake or Flood insurance, as these perils are not covered under a standard “Property Policy”.

We can help you understand your other risks and assist in evaluating whether you  need additional coverage in your insurance portfolio.