Six Questions to Ask When Shopping for PA Homeowners Insurance
2/22/2012 2:10:00 PM
Being an informed consumer means not only reading your homeowners insurance policy closely but also asking experts what constitutes the right type, and amount, of coverage you need for your home, according to the Insurance Information Institute (I.I.I.).
Here are six basic questions everyone should ask before buying or renewing a PA homeowner’s insurance policy:
1. How much would it cost to rebuild my home in its current location in the event of a total loss? If a tree falls on your home and damages it completely, or a fire destroys your home your PA homeowner’s insurance policy should cover the cost of building a new home. We can calculate this cost for you. In general, PA homeowner’s insurance policies cover partial or total damages caused by fire, hurricane,hail, lightning or any other disaster listed in your policy.
2. How much is the personal property in my home worth in the event of a total loss? If your furniture, and valuables are destroyed by a fire, hurricane or another disaster your policy should cover the cost of replacing these items. It is important that you keep an inventory of your valuables and take photos and store them online or outside of your home.
3. How much liability protection do I need? Your liability portion of your homeowners covers you against lawsuits for bodily injury or property damage that any of your family members may have caused, including pets. It will pay for your court bills and awards up to your policy limit. Liability limits generally start at about $100,000 and goes up from there. We can walk you through what about of coverage you may need.
4. What level of additional living expense coverage do I need? The Additional Living Expenses (ALE) provision is found in standard homeowners insurance policies. It pays for the costs of living away from home if you cannot reside there due to damage from an insured disaster. ALE covers hotel bills, meals and other expenses over and above your customary living expenses. We can help you to figure out how much you need depending on your home value.
5. Should I buy a separate flood and/or earthquake insurance policy? There were numerous flooding events and earthquakes in the U.S. in 2011 but relatively few Americans had coverage for either type of natural disaster because these perils are excluded from standard homeowner’s insurance policies. Call us here at Casper Insurance to see whether you might need specialized coverage beyond your standard PA homeowner’s insurance policy.
6. Do I qualify for any discounts? If you have smoke detectors, burglar alarms and/or dead-bolt locks in your home, you can often get a premium rate discount. Sophisticated sprinkler systems and if you pay for a security system these often reduce your homeowner’s insurance premium, too. Give us a call to discuss PA homeowner’s insurance discounts available to you.
Here are six basic questions everyone should ask before buying or renewing a PA homeowner’s insurance policy:
1. How much would it cost to rebuild my home in its current location in the event of a total loss? If a tree falls on your home and damages it completely, or a fire destroys your home your PA homeowner’s insurance policy should cover the cost of building a new home. We can calculate this cost for you. In general, PA homeowner’s insurance policies cover partial or total damages caused by fire, hurricane,hail, lightning or any other disaster listed in your policy.
2. How much is the personal property in my home worth in the event of a total loss? If your furniture, and valuables are destroyed by a fire, hurricane or another disaster your policy should cover the cost of replacing these items. It is important that you keep an inventory of your valuables and take photos and store them online or outside of your home.
3. How much liability protection do I need? Your liability portion of your homeowners covers you against lawsuits for bodily injury or property damage that any of your family members may have caused, including pets. It will pay for your court bills and awards up to your policy limit. Liability limits generally start at about $100,000 and goes up from there. We can walk you through what about of coverage you may need.
4. What level of additional living expense coverage do I need? The Additional Living Expenses (ALE) provision is found in standard homeowners insurance policies. It pays for the costs of living away from home if you cannot reside there due to damage from an insured disaster. ALE covers hotel bills, meals and other expenses over and above your customary living expenses. We can help you to figure out how much you need depending on your home value.
5. Should I buy a separate flood and/or earthquake insurance policy? There were numerous flooding events and earthquakes in the U.S. in 2011 but relatively few Americans had coverage for either type of natural disaster because these perils are excluded from standard homeowner’s insurance policies. Call us here at Casper Insurance to see whether you might need specialized coverage beyond your standard PA homeowner’s insurance policy.
6. Do I qualify for any discounts? If you have smoke detectors, burglar alarms and/or dead-bolt locks in your home, you can often get a premium rate discount. Sophisticated sprinkler systems and if you pay for a security system these often reduce your homeowner’s insurance premium, too. Give us a call to discuss PA homeowner’s insurance discounts available to you.