Frequently Asked Questions > Homeowner/Renters

Homeowner/Renters FAQs

Q. What are the advantages to using an agent to purchase insurance?

A. Insurance agents provide personalized service. We are here to help you choose insurance plans and policies that fit your specific needs. We research and compare the options for you, and we explain your policies and answer your questions. We are your voice and advocate if you have claim or billing issues. The best part is we work for you, not the insurance companies, so our services are always free to you!

Q What does Homeowners insurance cover?

A typical homeowners policy covers the structure itself, your personal property, and provides personal liability coverage for the insured. Renters policies typically only cover personal property (excluding the structure), and personal liability. Talk to an insurance agent for specific exclusions and limitations.

Q. What is the difference between "actual cash value" and "replacement cost"?

A. Covered losses under a Homeowners or Renters policy may be paid on an actual cash value basis or a replacement cost basis. "Actual cash value" policies entitle the policy owner to the depreciated value of the property in question. "Replacement cost" coverage reimburses the policy owner the amount necessary to replace the property with one of similar type and quality at current prices.

Q. Where and when is my personal property covered?

A. Personal property (except property that is specifically excluded) is covered anywhere in the world. There are limitations that apply when your property is removed from your primary residence (i.e. when you are traveling, or property kept in a storage unit).

Q. What can I do to lower the cost of my Homeowners insurance?

A. There are many things you can do to lower the cost of your Homeowners insurance. The easiest step is to schedule a comprehensive review of your policy with your insurance agent. Ask about discounts; many insurers offer discounts if you place your homeowners and automobile insurance with them. Some insurers offer discounts for security systems and/or fire prevention systems. Raising your deductible is another easy way to help lower the cost of your homeowners insurance.