Home Owners Insurance
Protecting Your Home from Wind
Extreme winds can cause several kinds of damage to a building, threatening
you and your family's safety. During high winds, wind speeds
fluctuate and
may change directions, placing pressure on all parts of the building
structure. These wind pressures may cause building components to fail.
When wind speeds are high, pieces of debris can also become "airborne
missiles" that may penetrate the structure and possibly injure your
family. By maintaining a "sealed envelope", keeping the outside wind from
getting into your home, you may be able to minimize damage to your home
and reduce the potential for injury.
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additional information
Structural
Consider these important items to reduce the chance of your home being
lifted off its foundation:
Uplift Resistance
• Anchor bolts with heavy-gauge, square bolt washers can be installed
during new home construction or added in existing homes to connect the
floor construction to the foundation.
What coverages are available?
Building Property Coverage A
Condominium Unit owners policy insures your items of real
property, including building additions and alterations, installations or
additions which are part of your unit and are your insurance
responsibility according to the governing rules of the condominium
association*.
*Improvements to your unit as well as fixtures and equipment installed
as part of the building may or may not be your insurance responsibility.
Association documents should be checked.
Personal Property Coverage B
This coverage protects personal property in your home like clothes or
furniture. It also provides protection for your personal property with you
while away from home in many places throughout the world.
Loss of Use Coverage C
Should a major fire, explosion, tornado or insured catastrophe severely
damage your unit, you could need a substitute place to stay. Loss of Use
coverage will cover the necessary increase in cost to maintain your
standard of living. The amount of coverage is either a dollar value or may
be limited to your actual costs for up to a specified time. You should
review your limit with your agent.
Loss Assessment Coverage D
This valuable coverage is uniquely designed for owners in condominiums/
associations. It recognizes the potential for owners to be assessed for
certain kinds of loss. Here are examples of circumstances that might
require the condominium/ association to assess all unit owners: • Someone
is seriously injured on common property (perhaps at a swimming pool) and
the courts award a judgment that's higher than the amount of liability
coverage provided by the condominium/association policy. • Major damage
occurs to commonly owned buildings and it is not fully covered by
insurance.
In either case (and other similar cases), loss assessment coverage
would pay your share (up to stated amount). You should review the need for
this coverage with your agent and buy an appropriate amount of coverage.
Personal Liability Coverage L
Personal liability coverage protects you if others make a claim or bring
suit against you for bodily injury or property damage for which you or a
member of your family are responsible, either in your home or elsewhere
and to which coverage applies.
In addition to settlement costs, this coverage may pay defense costs and court costs -- even if a suit brought against you is groundless. It is essential that you select liability limits high enough to protect your assets.
If you need more protects than your regular policy limits, consider a personal liability umbrella policy. It adds an extra layer of personal liability protection to your car policy, your boat policy (if you have one) and your condominium unit owners (homeowners) policy.
Medical payments coverage, typically $1,000 to $5,000 per person
injured, is usually provided along with personal liability coverage. This
pays medical bills of others injured in your home even though you may not
be responsible for their injury.
Medical Payments to Others Coverage M
This coverage pays medical expenses up to the limits in the policy for
people who are on your premises with your permission and accidentally
injured. The coverage also extends to people accidentally injured by your
activities. However, the coverage does not pay for medical expenses for
you or members of your family that live with you.
Absentee Ownership
If you own a home in a condominium / association but rent it to others all
or most of the time, special insurance arrangements also can be made.
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additional information
Renters Insurance
Even renters are owners. You may not own the
place where you live, but you still need insurance protection. Renters insurance is for anyone who rents a home, be it a house or an
apartment. Renters insurance can protect your personal property against
fire, theft and vandalism. Renters insurance can help protect you in case
of a liability lawsuit against you.
This could occur in a situation where
you are held responsible for:
• Injury to another person
• Damage to
another person's property Whether the incident occurred within your rented
residence, or elsewhere.
You may be eligible for premium discounts on both renters and auto
insurance when you purchase both policies from . Not available
in some states or provinces.
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information
Condominium Insurance
What's not covered? While
Condominium Unit Owners policy provides comprehensive coverage, it does
not provide coverage for every loss. Examples of losses not insured
include, but are not limited to: • Water damage caused by flood or
underground water • Earth movement including earthquake and mudslide •
Damage caused by settling, deterioration, contamination or nuclear hazard
• Damage caused by birds, rodents, insects or domestic animals While the
Condominium Policy provides personal liability coverage, it does not
provide coverage for every loss for which you may be liable. Examples of
exclusions include, but are not limited to: • Bodily injury or property
damage that is expected or intended by the insured • Business activities •
Providing or not providing professional services • Ownership, operation,
use of maintenance of aircraft, motor vehicles and certain watercraft
This content is only a general description of coverages and is not a
statement of contract. All coverages are subject to the terms, provisions,
exclusions and conditions in the policy itself and any endorsements.
Call (256-489-4206) or email us for
additional information
