Insurance Questions
and Answers

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1Why should I use a broker/agent instead of contacting a direct carrier?
As agents/brokers we represent a wide variety of companies, which allows us to offer you an array of policies and coverage levels to choose from. Our goal is to get you the best policy at the best price.
2Exactly what does homeowners insurance cover?
A homeowners policy provides coverage for: your home, your personal property (such as furniture, clothing, and appliances), and personal liability. It protects your property from a variety of perils, including fire, lightning, burglary, vandalism, storms, explosions, and more. A homeowners policy can also provide protection in the event you are sued for damages in a court of law. It is very important that you understand which provisions are included in the standard coverage you purchase and which might require additional premiums. Homeowners policies do not cover losses due to flood.
3What is Replacement Cost Coverage?
Replacement Cost Coverage is one of many ways to determine the value of insured property. A Replacement Cost policy allows the policyholder to avoid overspending when purchasing a replacement item after a covered loss. For example, if you have a television covered by a replacement cost value policy, the cost of purchasing a replacement television today determines the claim settlement amount for that item, not the amount you paid for the television when originally purchased. A Replacement Cost policy is slightly more expensive, yet provides broader coverage, than an Actual Cash Value policy where the policyholder will not receive compensation for the depreciation of an item destroyed by a covered loss.
4Are any discounts available if I take extra steps to protect my property?
Yes. Many insurance companies offer premium discounts for improved security. Examples include: installing high quality locks, a central station alarm (fire or burglary), or fire suppression systems.
5Are my possessions covered away from the home if, for example, I go on vacation?
Some policies automatically include, and many can be extended to provide, coverage for accidental damage to or loss of property away from the home.
6What about if I work from home? Am I covered?
Most policies will not cover losses arising from business activities at home. For an added premium, your insurer may extend the policy, or you may have to buy a specific policy to cover your business activities.
7Are my jewelry, furs or fine arts covered on my homeowners policy?
Most carriers specify a limit on the standard coverage amount for jewelry, furs and fine arts. If you possess any items above that limit, these items must be added individually to your policy for an additional premium. Coverage for such items will be “All Risk”.
8Do I need flood insurance?
Basic homeowners policies do not cover damages resulting from flood. A separate flood insurance policy will cover certain property that is damaged as a result of an overflow of a body of water. If you have a mortgage or other lien on your property, the holder of such mortgage or lien may mandate that you to obtain flood coverage as a prerequisite for providing a loan on your property. Please contact us today to discuss your property’s flood risk and what coverage options are available to you.
9Will my car insurance company cancel my policy if I have one claim?
Very unlikely. But filing a claim could increase your premium. For example, your auto insurance carrier can add a surcharge to your policy if they pay out a claim over $1,000.

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