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HOMEOWNER

A homeowner’s policy covers any home you own and is as basic or as broad as you need. There are several parts to your homeowner’s policy:

  • Section 1 - Covers physical property

    • A - The home and attached structures, e.g., an attached garage and any furnishings that are part of the house, e.g., furnace or carpet. This is covered at replacement value. The value of this coverage determines the value of other property coverages.

    • B - Other structures not attached to the house, e.g., detached garage, sheds, or pool. This is typically covered at 10% of the value of A.

    • C - All personal property, e.g., clothes or furniture. This is typically covered at 50% of the value of A with limited coverage for certain items.

    • D - Loss of use either for a homeowner when forced out of the home due to a loss or for landlord compensation when rental property is unusable.

  • Section 2 - Covers liability should a non-resident be injured on your property

    • E - Personal liability for non-resident’s bodily injury or property damage while on your property.

    • F - Medical payments for non-resident’s injuries while on your property with limited coverage.

RENTER

Renter’s policies are a form of limited homeowner’s coverage depending on your role in the lease.

  • Tenant - Covers the tenant’s personal property as well as any liability and loss of use. It does NOT cover the dwelling or any other structures.

  • Landlord - Covers everything except personal items and furnishings belonging to the tenant.

Flood Insurance

  • Only available in defined flood-prone areas.

  • Limited coverage of damage from tidal surge, mudslides or shoreline collapse.

  • Typically, a 30-day waiting period before new coverage will start.

EARTHQUAKE & VOLCANIC ERUPTION

This rider requires the purchase of an underlying policy. Your standard property policy will cover damage from volcanic ash, but not “ground rumblings” from earthquakes or volcanos.

  • Covers earthquakes and any aftershocks for seven days after the initial event.

  • Covers earth movement from a volcanic eruption.

  • The deductible is percentage based; each tremor or additional rumblings within a seven-day period are included in the first deductible.

Each policy will have stipulations, limits, and exclusions. Extensions, riders, and floaters are available to fill any gaps. The information on this website is an overview of the types of insurance you may be able to purchase, but does not comprise full explanations of policy types nor does it guarantee any particular coverage or policy.