Homeowners & Condo

  • Earthquakes - Earthquakes can be devastating and unless you have a special endorsement or policy just for earthquakes, you aren't covered.

  • Other earth movement - Earthquakes aren't the only way the earth moves. Other earth movements including sink holes and landslides are not covered by a basic policy.

  • Floods - Floods and mudflow are not covered by your basic policy. Flood insurance can be purchased, but only from the government run National Flood Insurance Program.

  • Other water damage - This is an area that trips up lots of homeowners. You are not covered if you have backups or an overflow from your septic system or sump pump. You can add a rider to your homeowners insurance policy for $5000 of additional coverage for direct physical loss.

  • Hurricanes - If you live in a hurricane prone area be sure to learn what's covered under your policy and what isn't. You may have to purchase a separate policy. · Nuclear war or nuclear accident - While these are man-made rather than natural disasters, you should know that your typical homeowners insurance policy does not cover any loss incurred.

A homeowners policy is for people who own their home. This may be either a house or a condominium: Essentially, if you are making payments on your house with ownership as the end goal, you will need and be required to have, homeowners insurance by your mortgage company, since they typically have a very large insurable interest in your home. This type of policy will cover both the inside and outside of the home including your personal property. It will cover the majority of natural disasters except:

Your homeowner policy will allow you to replace or rebuild damaged property. If your home is broken into by a thief and items are stolen your insurance will help replace stolen items and pay for any damage in terms of vandalism that was caused by the incident. Here are some other incidents or “Perils” (a very commonly used insurance term) that ARE covered:

  • Fire, Lightning, Windstorm or Hail
  • Explosion
  • Riot
  • Damage Caused by an Airplane
  • Damage Caused by a Vehicle
  • Smoke
  • Vandalism and Malicious Mischief
  • Theft
  • Damage Caused by a Falling Object
  • Weight of Ice, Snow or Sleet
  • Accidental overflow of water or steam or bulging, cracking or tearing from an automatic fire sprinkler system, air conditioning system, heating system or appliance
  • Freezing of air conditioning, heating, plumbing, appliance or automatic fire sprinkler system
  • Accidental damage from artificially generated power surge

Renters Insurance

With a Renters insurance policy, the coverage includes the inner contents of the home, apartment, or room that you are renting. This covers break-ins, the natural disasters, fires, and other circumstances that are beyond your control. Even though your landlord will have a homeowners insurance policy on the place you are renting, it does not cover your own personal property, which is why renters insurance is essential.

Personal Property Coverage

Think of everything you own. Now, try to assign a dollar amount to all of those belongings. Pretty mindboggling, isn't it? A renters insurance policy offers you coverage for the theft, loss or destruction of your personal belongings in the event of a fire, storm or other covered peril.

This can help you replace the items you use on a day-to-day basis, from your clothing to your appliances to your furniture—as well as your more expensive items. If you're a die-hard jewelry collector or an audiophile with tens of thousands of dollars' worth of pricey sound equipment, you can even take out extended coverage that provides you with higher limits, sometimes called floater insurance or Scheduled Personal Property coverage.

This extra coverage may increase your deductibles, but will certainly be worth having to make sure you have enough coverage for your pricey items. Having a renters insurance policy can even cover your personal belongings when they're not inside your home—like if you take your laptop with you on a trip and it is damaged or stolen. It is also very important to mention and is often forgotten…if someone breaks into your car and steals anything that isn’t attached to your vehicle such as your stereo, tires, rims, etcetera, only your renters or homeowners insurance will cover those personal belongings (cell phone, wallet, iPad, laptop, purse and so on).

Liability Coverage

Life is risk, but that doesn't mean you have to dig deep into your pockets or drain your savings account every time something goes wrong.

The liability insurance that comes as a part of your standard renters insurance policy can help protect you if you are sued by a guest injured in your home. Say someone comes over to your house and trips down your stairs, injuring themselves seriously enough to warrant medical attention.

If you are found responsible for the accident, your renters insurance liability coverage can help pay for your legal expenses and their medical bills and other damages.

When buying renters insurance, it pays to think long and hard about having enough coverage to guard against any possibility.

Liability coverage can even pay for damages caused accidentally by you or your family members. For example, if your child accidentally throws a baseball through your neighbor's living room window, your liability insurance plan could cover the damages.

Additional Living Expenses

People rarely think about where they'd go or how they'd pay for it if a fire or disaster were to render their rental home unlivable.

With a renters insurance policy, you can rest easily because this coverage will help pay for your temporary living expenses. This can include things like hotel bills to restaurants to other living expenses you normally wouldn't incur.

With a renters insurance policy, you don't have to worry that a damaged roof will force you to share a house with your in-laws. For that alone, it's a priceless investment.