Some Services We Offer
- Free Policy analysis and quotation
- Free dwelling replacement cost estimate
- Free yearly coverage reviews and checklists
- Payment of small claims direct from our office
- Claims reporting and assistance
- Free Notary services
- Appointments when YOU need them
Offerings from the Companies We Represent
- 24 hour company claims reporting
- Mature homeowners credit, alarm credit, no loss credit, age of home credit, non-smoking credit, as well as special company credits
- Easy monthly payments
Homeowners Insurance Coverage
Your home is your castle and most valuable asset. It is where you keep many of your possessions, such as your furniture and your clothes. It is also the place where you and your family live, and the center of your life. If you lost your home due to fire, windstorm or lawsuit, your whole life would be disrupted. You would want to replace whatever you lost so your life can return to normal.
The following guide provides a general explanation of the terms that insurance policies use to describe your coverage, and tips on how to get the most value from your policy.
Dwelling Coverage
This amount should reflect the replacement cost value of your home, including attached structures, built in appliances, utilities, and wall to wall carpeting. The HO-3 form covers most losses based on the replacement cost of repairs less your deductible. Your dwelling must be insured to at least 80% of the total replacement value. With minor exceptions most losses are covered EXCEPT those caused intentionally or by neglect, wear and tear, insect, vermin, rodents, constant or repeated seepage of water or steam from within a household appliance or system, water damages caused by pipes broken by freezing when home has been unoccupied for 30 days or more, flood including water from sewer or drains and tidal waves, collapse, earthquake, landslide, power failure off premises, smoke—not sudden or accidental, illegal acts, war, and nuclear radiation.
Hint: You can buy some of these exclusions back by endorsement or with a separate policy.
Other Structures
Automatically 10% of the dwelling limit. Provides the same coverage as for the dwelling, paying the repair cost of all detached structures on your premises when coverage is at least 80% of the replacement cost but, will not pay more than the repair, replacement, or the limit of coverage purchased, or the actual cash value of all structures that are not buildings, and all are subject to your deductible. Examples include garages, fences, decks, swimming pools, and walls, provided they are not physically attached to the home.
Hint: You can increase this coverage limit if needed.
Personal Property
Automatically 50% of the dwelling limit. Covers the contents of your residence whether they are at home, in transit, in storage, anywhere in the world subject to your deductible. Losses are paid on an Actual Cash value basis (reflects depreciation). Personal property is covered for damage caused by: fire or lightning, theft, freezing of plumbing, weight of ice, snow and sleet, windstorm or hail, glass breakage, explosion, sudden and accidental cracking, burning, bulging or tearing apart of a steam, hot water, air conditioning system or appliance for heating water, water or steam that accidentally discharges or overflows from a household system or appliance, power surges, sudden and accidental smoke, vandalism or malicious mischief, vehicles, aircraft, riot, volcanic eruption. There are special coverage limits for certain property and excluded loss situations that are part of the policy and not indicated here.
Hint: You can increase this limit. You can add replacement cost coverage by endorsement.
Loss of Use
Automatically 20% of the dwelling limit. If a fire or other covered loss makes it temporarily impossible to live in your home, this coverage pays for the increased living expenses you incur until you can move back in.
Hint: You can increase this coverage by endorsement.
Personal Liability
Pays up to your liability limits for damages awarded to an injured party for your negligent actions. Coverage is extended to include defense costs, expenses you incur to assist the company in their investigation of a lawsuit, and expenses you incur to render first aid to others. There is no deductible. Medical claims against you by employees (e.g. daycare workers) of the household are excluded. (Consider an inexpensive Workers Compensation policy.) Any business activity, past, present or future for any insured is excluded. (Consider a Business Owners Policy or the Permitted Incidental Occupancies Endorsement.) Auto and many watercraft liabilities are excluded. Additional Liability coverages include Claims Expenses for suits, Reasonable expenses of the insured to $50 a day, Interest on the judgment, $500 for Damage to Others Property and $1,000 for Loss Assessment for Association members.
Hint: You can purchase higher limits and broader coverage (personal injury-libel, slander, false arrest) by endorsement. Consider an Umbrella policy as well.
Medical Payments
Provides for emergency medical care for invited guests on your premises and to a person off the insured location if caused by the activities of an insured, an animal owned or in the care of an insured, or out of a condition on the insured location. In Massachusetts coverage for any insured, regular resident, tenant, and residence employee (in the course of their work and/or when they are off the residence premises) is excluded.
Hint: Get Workers Compensation for residence employees.
Common Endorsements to Your Homeowners Policy
Umbrella Liability
Extends a higher and broader liability coverage over your home and your auto policy as a “second line of defense” after the underlying home or auto policy liability is exhausted. Policies are non-standard and coverages will vary slightly between insurers. In general, coverage will include defense and settlement costs and awards for unintended bodily injury, property damage, mental anguish, sickness, disability, slander, and libel caused by your negligence. Protection is worldwide. You are required to purchase and maintain minimum underlying limits of liability on your home and auto policies. These will vary by company and program.
Replacement Cost, Dwelling
A guarantee that the company will replace your home with today’s building materials and methods even if that cost exceeds the limits on your policy.
Replacement Cost, Contents
The company will reimburse you for the replacement cost of your damaged personal property if you replace them after a loss. Actual Cash Value applies if the property is not replaced.
Scheduled Property
Insure valuables for extended risks including theft, loss, and mysterious disappearance for an agreed amount without a deductible. An appraisal or purchase receipt within the past three years is generally required. Breakage coverage can be purchased for some fine arts. Common insurable categories are: Jewelry, Fine Arts, Silverware, Golf Equipment, and Musical Instruments.
Earthquake
Removes the exclusion for the loss of earthquake damage. A 5% deductible usually applies.
Ordinance or Law
Your homeowner’s policy is an indemnity policy. The intent is put you back into the same place you were before your loss. If a city, state, or federal law requires you to improve your home as you rebuild after a major loss (e.g.: if the enforcement of new building codes makes you rewire the whole house), this coverage provides the means to do so. Many policies give you 10% of the dwelling coverage automatically. You can increase it to 25%, 50%, 75%, or 100% with this endorsement. This is very important for older homes that have not been gut rehabbed and may not meet current building codes.
Loss Assessment
For condo owners or association members. If the association experiences a loss covered by insurance and they exhaust their insurance limits, they may assess the unit owners or association members. If that loss would have been covered under your policy this part will pay your assessment, up to your limits. Important and inexpensive coverage.
Permitted Incidental Occupancies
Many people now work from a home office or run small businesses from their homes. The unendorsed policy limits property coverage for property used in business for any purpose, AT ANY TIME (yes even 10 years ago) to $2,500, property used in business OFF the insured premises to $250 and there is no liability coverage (yes, if UPS drops off a package for your business and slips and falls, then sues—no coverage). Adding this endorsement removes these limitations for business property on the premises and liability on the premises. Business property off the premises is still limited to $250. There is no business liability coverage off the premises.
Hint: If you need it, and many do, purchase a Business Owners Policy. Contact us for an evaluation of your specific needs.
Watercraft Hull Coverage
The unendorsed policy limits coverage to $1,000 only when the boat is on the residence premises, damage from windstorm or hail is covered only when the boat is inside a fully enclosed building. Theft off the premises is excluded. No, your auto policy will not pick up the pieces in a collision, just the trailer that is insured for collision on your auto policy. This endorsement will cover the physical damage or theft of the boat off the premises. Endorsement availability is subject to limitations based on the length of the boat and size of the motor.
Watercraft Liability
The unendorsed policy excludes coverage for Owned Outboards over 25hp, Owned Inboard & Inboard/Outboard of any size, Rented Inboard & Inboard/Outboard over 50hp, and Owned or Rented Sailboats over 26ft. This endorsement can extend coverage to some excluded boats. Endorsement availability is subject to limitations based on the length of the boat and size of the motor and the driving records of the operators of the boat.
