Homeowner's Insurance

» Additions & Alterations

Improvements or renovations that you have made to your unit which are permanently attached to the condo. They include any part of the condominium structure that your association requires you to insure (i.e. drywall and out). These items must be insured separately from the personal property limit on your policy. Most condo associations will replace your unit, in the event of a loss, back to the specifications when it was sold as new. Check with your condo association to see what limit they suggest you carry and be sure to discuss the issue with our staff.

» Deluxe versus Standard Personal Property Coverage

Deluxe or "all risk" contents coverage is the broadest form of protection available in the insurance industry. It provides a larger more all-encompassing list of covered losses than a standard or "named perils" policy. The following is a partial listing of some of the instances where a loss would be covered by a deluxe and not a standard policy:
  • Mysterious disappearance. A lost or misplaced item such as something that is left on the roof of a car when the driver pulls away.
  • Earthquake. Contents covered on a deluxe policy and not on a standard one.
  • Breakage of non-fragile articles. Your glass coffee table is chipped or broken during a move. Drop a camera and it breaks. Mishandle a watch and step on it. The following items are examples of what would be considered "fragile" and thus would not be covered: crystal, china, porcelain, figurines, and mirrors.
  • Water damage. Damage to contents is covered if rain or hail enters through an open door or window. A standard policy would only provide cover if the door or window was first damaged by a tree limb or other object striking it first.
  • Wind damage. Damage to contents is covered if wind enters through an open door or window similarly to water damage (above).
  • Child related damage. Children running, wrestling or playing in the house and damage a TV would be covered as would a child drawing on a sofa with markers or an infant wetting an antique sofa.
  • Cigarette burns and ash damage.
  • Damage by guest. A guest accidentally knocks over your TV and ruins it.
  • Damage by spilled liquid. College student spills coffee on a personal computer. Nail polish remover spilled on furniture. Housekeeper over waters your plants and the seeping water damages your oriental rug. A family member spills red wine on your new white carpet.
  • Personal property improperly stored. Numerous suits from the dry cleaners in the back seat of the car when it goes through the car wash with the windows open. Furniture stored in the garage is damaged by rain when a door is left open.
  • Objects that fall inside the house. Crystal chandelier coming loose and crashing down on dining room table destroying both.
  • Damage by hot objects. A hot plate from the kitchen can shatter a glass table or burn a counter top.
  • Use the wrong cleanser while cleaning antique furniture stripping the finish and diminishing the value.
  • Motorized vehicle for use on property. A sit down mower that loses control and strikes a fence causing damage to both. Each would be covered.
  • Back up of sewers and drains. Resulting damage is covered on an unlimited basis on a deluxe policy while it is limited to usually $2,500 or less on a standard policy.

» Dwelling Replacement Cost

The amount of money required to repair, replace, or rebuild your home using similar design, quality of materials, and workmanship that existed at the time of the loss. Replacement cost should not be mistaken for "Market Value" which is the price that you could get if you sold your home right now. The two figures, often times, are not the same. For an actual replacement cost estimate, please contact us at 508.866.2766.

» Flood Insurance

Insurance designed to reimburse property owners from the peril of "flood". It is important to understand that "flood" coverage is not provided under a standard property policy. "Flood" is defined as a condition of inundation of normally dry land area from the overflow of inland or tidal waters, the unusual and rapid accumulation or runoff of surface waters from any source, mudslides and land subsidence when earth is carried by waves or currents of water.

» Personal Liability

Protection for injury or damage that you cause to persons or property that you are legally obligated to pay. It applies to occasions when you are not at work or driving your car (which happens to be most of the time). The limit you choose should at the very least be equal to the total sum of all your assets. You are protecting yourself from being wiped out by a lawsuit.

» Personal Property

Items you own that are not permanently attached to your dwelling. These items include, but are not limited to, clothing, furniture, TV's, stereo equipment, and appliances. Basically everything you own. There are, however, certain items that are personal property, but have only limited coverage under a homeowner's insurance policy. These special items are as follows:
  • Money, bank notes, bullion, gold
  • Securities, accounts, deeds, letters of credit, and stamps
  • Watercraft including their trailers and equipment
  • Jewelry, watches, furs, precious and semi-precious stones
  • Firearms
  • Silverware, goldware, and pewterware
  • Business personal property
  • Electronic devices designed for vehicular use for example radar detectors
  • Fine arts
  • Collectible items
If you have any of these items, you should discuss them with someone on our staff. The items need to be specifically insured.

» Umbrella Insurance

It provides a higher limit of liability coverage in excess over your primary policies (i.e. homeowners, auto, general liability, etc). It is used in one of three ways: (1) to provide additional limits of protection over the coverage listed on your primary policy, (2) to act as primary coverage if your primary limits are exhausted, and (3) to provide coverage for some risks, subject to a retention (a.k.a. deductible), when your primary coverage does not.

» Loss Assessment

Provides PROTECTION FROM AN ASSESSMENT levied by the condominium association due to a covered loss of the association covered property.

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