COVERAGE OVERVIEW
YOUR HOME
The Dwelling coverage can protect your
- 1-4 Family Rental Property,
- Outbuildings such as a detached garage or shed
Coverage perils can be selected as
- Broad Coverage Form – Fire, Lightning, Explosion, Windstorm, Hail, Riot, Civil Commotion, Aircraft, Vehicles, Smoke, Vandalism, Glass Breakage, Falling Objects, Sinkhole Collapse of Building,Water Damage (abrupt accidental discharge of water or steam), Volcanic Eruption, Weight of Ice & Snow
SPECIAL NOTE: Theft coverage is not offered under this form. - Expanded Form
All direct physical damage is covered except exclusions such as war, nuclear radiation, earthquake, flood, radon, and others listed in the policy.
LOSS OF RENTS
This helps offset the loss of rent due to a covered loss. Automatic coverage of 5% of the Dwelling Limit is provided. Optional coverage is available.
CLAIM SETTLEMENT OPTIONS
- Actual Cash Value Depreciation for age, wear, tear
- Functional Replacement Cost
This option, available at time of loss, minimizes depreciation by opting for modern materials and techniques.
- Replacement Cost – Subject to Underwriting approval
YOUR CONTENTS
Business Personal Property provided by a landlord in rental properties (appliances, furniture, etc.).
SPECIAL NOTE: Tenant-Owned Personal Property in rental homes is not covered.
POLICY DEDUCTIBLE
You choose a deductible (portion you pay) of $250; $500; $1,000 or $2,500. Raising your deductible lowers your premium.
LIABILITY
Provides legal defense and a settlement
- to those you may injure, or
- for property you may damage.
Available limits are –
- $300,000
- $500,000
- $1,000,000
You can have additional coverage with a stand-alone Excess Liability Policy.
MEDICAL PAYMENTS
Offers assistance to visitors injured at your rental property, even when you are not negligent.
PARTIAL LIST OF OPTIONS
- Additional Loss of Rents
- Building Code Ordinance or Law (above 10% standard limit)
- Damage Due to Back-Up of Sewers or Drains
- Debris Removal (Additional)
- Earthquake
- Equipment Breakdown
- Inflation Guard – quarterly increase of 1.0%; 1.5%; or 2.0% for Your Dwelling
- Multiple Location Coverage
- Pollution Clean-Up
- Other Special Needs
TENANT REQUIREMENTS
This policy series requires that all tenants have the following:
- Written lease of at least 12 months
- Tenant insurance providing liability coverage
SAFETY EQUIPMENT
The rental dwelling must adhere to local code enforcement regarding carbon monoxide & smoke alarms.
REVIEW
We ask for the opportunity to review your needs when purchasing home insurance. We also provide a written review each year.