No place in the world is as precious as your home. We can help to protect it with coverage that fits both your budget and your priorities. Accidents happen all the time and it pays to have the proper protection in place. Homeowners insurance provides financial protection against unexpected events that can happen with your personal property. A standard policy insures the home itself and the things you keep in it. Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners’ responsibility.
WHY DO YOU NEED HOMEOWNERS INSURANCE?
- If your home was destroyed by fire or damaged by a natural disaster, you’d need money to repair or replace it.
- If a guest in your home is injured, liability protection and medical coverage help pay expenses.
- If you are a victim of theft and vandalism, it can reimburse you for your loss or pay for repairs.
- If you are still paying for your home, your lender will require insurance.
EARTHQUAKE INSURANCE COVERAGE
Though no one is required by law to purchase earthquake insurance, the California Earthquake Authority reports that all insurance companies that sell California Homeowners insurance are required to offer earthquake insurance to its customers. In California, most standard homeowners’ insurance policies do not cover earthquake damage.
OPTIONAL HOMEOWNERS COVERAGES
There are a number of optional endorsements, which enhance your basic homeowners policy either by adding or removing certain coverages. Some of the more common add-on coverages include:
- Special Coverage for Contents: Provides broader protection for your possessions. This means that your personal property is covered in more situations than the base policy.
- Contents Replacement Cost Coverage – Pays replacement value on property damaged by a covered loss…with no deduction for depreciation…subject to your policy limits and deductibles. Special limits apply to certain items such as jewelry, watches and furs.
- Valuable Items Plus: provides higher limits and worldwide protection for special property such as jewelry, silverware, fine art, furs, cameras, firearms, musical instruments, and home computers for an extended variety of losses. Should you need even higher amounts of coverage than that offered by the Valuable Items Plus endorsement, a separate Valuable Items policy is also available.
- Water Back-up of Sewers or Drains – provides coverage up to a specific dollar amount if water backs up through your sewer or drain, or overflows from your sump pump.
At First Knight Insurance we know what matters to you most. That’s why we specialize in providing HOMEOWNERS, RENTERS, & CONDOMINIUM Insurance policies based on your specific needs. Call us to get a competitive quote or professional consultation.