Homeowners Insurance
Homeowner’s insurance provides financial protection against unexpected disasters. Chances are your home is likely one of your largest investments so it’s important to properly protect it. By analyzing the specific hazards you may face at home, we can help you find the correct protection to cover yourself, your family, your valuables, and your house.
YOUR HOME IS IMPORTANT, MAKE SURE IT’S PROTECTED
You have to ask yourself…
What would happen if a disaster struck your home tomorrow? Are you confident you’re properly covered for damages and total loss? Would you be required to pay out of pocket for some or all the repairs?
WHAT IS HOME INSURANCE?
Homeowners insurance policies provide broad coverage for losses to your home, your personal belongings, and for detached structures on your property. They also provide protection in the event of an injury to people on your property.
Your Home should be insured for an amount based on the replacement cost of your property. Replacement cost is what it would cost today to rebuild your house in the event of a loss, and based on current building codes. There is a deductible amount on your policy, which is an amount you would be responsible for before the policy starts to pay out. Actual Cash Value Polices are sold by agents and are not policies that we usually recommend, as value is based on the depreciation of your property. You should always double check your policy to see how it reads. You could be in for a big surprise if a claim arises and your policy reads as actual cash value.
Personal Property policies automatically provide a separate amount to cover your personal belongings, however there is a deductible. We recommend that our clients create a home inventory; you keep a copy and we will store a copy for you as well. In the event of a claim, when you have other things on your mind, this will make it much easier to document your loss and make the claims process much easier.
LITTLE-KNOWN FACTS ABOUT HOMEOWNERS INSURANCE
While homeowners insurance is comprehensive coverage there are a few things that most consumers are not aware of:
- Most policies will not cover sewer backup, unless you purchase a special endorsement
- You can combine your Home and Auto polices to receive a companion or bundled savings on your premium. This sometimes will be a significant savings.
- Damages caused by surface water or water that flows below the surface of the ground aren’t usually covered
- A standard homeowners policy typically does not include Flood Insurance
- A standard homeowners policy only covers jewelry, up to set limits if the loss resulted from one of the perils named on the policy
Many policies default to actual cash value, which means if you purchased a widescreen TV and home theater system for $1,000, it may now only be worth $450, so that’s all you’ll receive on the claim. Just like the dwelling limit mentioned above, replacement cost insurance pays out the total replacement value of your possessions, not their market value, in the event of a claim.
IMPORTANT: An independent agency, like The Shropshire Agency, works for their client and not an insurance company. If premiums or deductibles increase, we have other options for you. We have the option to find a policy that might best suit your needs with another carrier (insurance company). We are not tied or commitment to one carrier, we are committed to you, our client.
WHY WE’RE DIFFERENT
At Shropshire Insurance, we take the time to get to know our clients, to understand their needs, and then we craft a comprehensive risk management program for them. We will find the company that best suits you – there’s no such thing as a one-size-fits-all insurance policy. We know you are busy building your dreams. We are your partner in insuring the foundation of them.
Contact us today, and we’ll help you protect what matters most.
