PERSONAL PROPERTY

What is homeowners insurance?

Homeowners insurance provides financial protection against disasters. 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.

If you own your house

If you own the home you live in, you have several policies to choose from. The most popular policy is the HO-3 and HO-5A, which provides the broadest coverage.

If you own a co-op or a condo

H0-6: condo/co-op
A policy for those who own a condo or co-op, it provides coverage for your belongings and the structural parts of the building that you own. It protects you against all 16 disasters

If you rent your home

HO4-Renter
Created specifically for those who rent the home they live in, this policy protects your possessions and any parts of the apartment that you own.

Ways to Save Money on Your Insurance:

• Increase your deductible
• Buy your home and auto policies together from the same insurer
• Ask for discounts on:
  

  Auto and home
  Protective devices
  Newer home credits
  and many other…

How to File a Claim

• Report any crime to the police
• Phone your agent or company immediately
• Make temporary repairs
• Prepare a list of lost or damaged articles
• Keep your receipts