Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it. Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods and poor maintenance. You must buy a separate policy for flood coverage. Maintenance-related problems are the homeowners' responsibility.

Homeowners insurance is comprised of the following standard coverage parts:

Dwelling

Covers the house and attached structures for accidental direct physical loss except those losses excluded by the policy. This includes built in or attached items such as built in appliances or wall-to-wall carpet.

Other Structures

Covers other buildings or structures on the property that are separated by clear space from the house. Examples are a detached garage or gazebo. Covers for accidental direct physical loss to the structure except as excluded or limited by the policy.

Contents

Covers your personal property, such as: furniture and clothing, and items that are not attached to or built into the home. Covers these personal items for loss due to specific causes such as: fire, smoke, wind, theft, and other causes as described in the policy.

Personal Liability

Covers damage to others for which you are held liable except as limited or excluded by the policy.

Medical Payments to Others

Pays for medical or funeral expenses of others who are injured on your property or caused by your activities on or off your property.

Loss of Use

Pays for reasonable living expense if you are not able to reside in the home due to a covered loss.

Building Addition and Alterations

Applicable to condominium unit owner and renters policies. Covers the following building items that the unit owner is responsible for:

• Floor, wall and ceiling coverings
• Electrical fixtures
• Appliances
• Air conditioning and/or heating equipment
• Water heaters
• Water filters
• Built-in cabinets and countertops
• Window treatments
• Air conditioner compressors that serve your unit
• Unit upgrades/alterations from the original plans

Condominiums Loss Assessments

Covers your share of an assessment against all condominium unit-owners for a direct loss to the condominium property owned by all unit-owners collectively. Loss must be caused by a peril insured against.

The following policy enhancements are available from many companies that we represent:

• Extended Replacement Cost on Dwelling

  Can pay up to an additional percentage of the Dwelling coverage limit if the home is a total loss and additional money is needed to repair the home.

• Replacement Cost on Contents

  Pays to replace or repair personal property without depreciation being taken from the value of the property.

• Ordinance or Law

  Pays for increased expense to rebuild due to current building codes or ordinances. Examples: current zoning may require all new construction to have sprinkler systems.

• Water Backup of Sewers

  Broadens the coverage for loss due to water backup through sewers or drains.

• Scheduled Personal Property

  Provides additional coverage for personal property of higher values such as jewelry, watches, furs, etc.

Additional discounts are available from most companies:

• Protective Device (Alarm)

  Between 2-15% if the home has items such as: smoke detectors, fire extinguishers, fire alarm, burglary alarm, etc.

• Age of Construction

  Up to 30% based on the age of the home.

• Wind Mitigation

  Discount available for homes that qualify after inspection of roof, window protection and door type.