The Homeowners' Policy covers the owner occupants of a one- to four- family residence. Each policy has two sections, Property and Liability. There is a standard policy format used by all companies in all states; however, there are options and variations between policies. We will work with you to assess policy and coverage options for a package specifically tailored to meet your needs.

Property

The policy protects your home, your Personal Property, and expenses that might arise should there be a loss.

The Dwelling is covered on a Replacement Cost basis. This is not the same as its Market Value (purchase price), nor should the policy be written just to cover the outstanding balance of your mortgage. Replacement Cost is the amount necessary to rebuild your home with quality construction. The most common policy will insure the Dwelling against "...all risk of loss, except that which is specifically excluded" by the policy. Some Exclusions include: War, Nuclear Radiation, Flood, Earthquake, Wear and Tear, and damage done by insects, vermin, and rodents.

The policy will also protect your Personal Property. Traditionally this is also on a Replacement Cost Basis. The standard policy will provide coverage for 16 different situations called Perils. The list of coverage includes: Fire, Theft, Vandalism, Windstorm, Riot and Civil Commotion; Explosions and Falling Objects. Even though it is a broad list, it is more restrictive than the coverage on the Dwelling.

There are limitations to the amount of coverage or policy terms on certain types of property. For example, the Replacement Cost protection may not apply to Antiques or Fine Arts. Also, most policies limit protection for Theft of Jewelry to US $2,000 or so. In both cases the best way to insure items subject to policy limitations is to list them on the policy, which will provide you with broader coverage at a more economical price.

Liability

Personal Excess Umbrella Liability policy. The Personal Umbrella adds additional coverage, usually in multiples of US $1,000,000, to the Liability coverage of your Residential or Automobile policies

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