Home Owners Insurance

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 some or all the repairs out of pocket?

These questions are crucial to address because you can’t get insurance after a disaster strikes—and that can happen at any time. More importantly, when you’re facing a crisis, you’ll feel less pressure knowing:

  1. Your representative took the time to make sure you have the right protection
  2. Your insurance carrier has your back.

What is Home Insurance for?

Home insurance covers the hazards that most homeowners face—everything from fire to theft, a cracked foundation to accidents on your property. When a loss occurs, you will file a claim with your insurance carrier, and you are paid for the expenses, minus any outstanding deductible amounts.

Insurance also covers personal liability exposures, to protect you from many situations that could lead to lawsuits from others.

For instance, if someone slips and falls in your home, or is injured somewhere on your property, you can be held responsible. Liability coverage is there to protect you.

You could also potentially need insurance to protect you from having to pay for:

  • Storm damage, fire, windstorm, lightning, and hail, to name a few.
  • Dog bite liability (standard liability may not be enough if your dog bites someone or causes them to become injured, so consider your pets carefully)
  • Manufactured home coverage
  • Trampoline or swimming pool liability insurance
  • Wind damage
  • Sinkholes
  • Flood damage
  • Sewer or septic backups
  • Replacement cost for personal property
  • Umbrella liability insurance

When you see an independent insurance agent like us, you have the chance to explore all your options for insurance and protect the things that are most important to you.

What are the things covered by standard homeowners insurance?

Home insurance coverage gives financial protection when you experience a loss due to disasters, theft, and accidents. Most basic insurance policies offer four crucial kinds of coverage. These coverages are for the structure of your home; for your personal belongings, liability protection, and also for additional living expenses.

Coverage for the structure of your home

When you acquire a home insurance policy, it will pay to repair or rebuild your home if it is damaged or destroyed by fire, hurricane, hail, lightning, or other disasters that are included in your insurance policy. Almost all policies will also cover detached structures such as your garage, tool shed, or gazebo which is about 10% of the amount of insurance you have on the structure of your home.

A basic insurance policy will not pay for damage caused by a flood, earthquake, or usual wear and tear.

We also greatly suggest purchasing enough coverage to rebuild your home.

Coverage for your personal belongings

Items you own such as your clothes, furniture, sports equipment, and other personal effects are covered if they are stolen, destroyed by fire, hurricane, or other insured disasters. Please keep in mind that this would still depend on your policy. This coverage would usually make up from 50 to 70% of the insurance you have acquired on the structure of your home. You have to conduct a home inventory in order to determine if there is enough coverage for your home.

 

You are covered anywhere in the world since personal belongings coverage also included items stored off-premises. Although some insurance companies will limit the amount to 10% of the amount of insurance you have for your personal belongings. This also includes up to $500 of coverage for any unauthorized use of your credit cards.

 

Kindly take note that expensive items such as jewelry, furs, art, collectibles, and silverware are covered. However, there are dollar limits if they are stolen. We suggest purchasing a special personal property endorsement or floater and insure them for their officially appraised value in case you want them to insure to their full value.

 

Your garden that includes your trees, plants, and shrubs are also covered under your standard homeowners insurance. However, they are not covered for disease or if they are poorly maintained.

 

Liability protection

 

Liability protection will help you cover against lawsuits for bodily injury or property damage that you did it yourself or any of your family members cause to other people. It will also help cover for damage caused by your pets. In case one of your family members or even your pet dog accidentally ruins someone’s expensive rug, you will be covered by liability protection.

 

This protection will also pay for legal and court fees up to the limit documented in your policy. Furthermore, it will also provide you no-fault medical coverage. So, in case one of your friends or neighbors is injured in your home, they can just submit medical bills to your insurance company. Through this, expenses can be paid without any liability claim against you. However, this will not pay the medical bills for your own family or your pet.

 

Additional living expenses

 

This will pay for the other expenses of living elsewhere, should the case be that you cannot live in your home due to damage from an insured disaster. It will help cover for your hotel bills, restaurant meals, and other expenses while your home is being renovated.

 

Kindly keep in mind that this has limits and some insurance policies have time limitations. However, these are separate from the amount available to repair your home. Your insurance company will still pay the full expenses of repairing your home up to your policy even though you already use up your additional living expenses.

 

In case you rent out a part of your home, this will also cover you for the rent that you have collected from your tenant if your house has not been damaged.

 

 

Little known facts about Homeowners Insurance

There are many things about insuring a home that most consumers aren’t aware of. We are here to make sure you avoid potential problem areas, including:

  • Most policies will not cover sewer back-up unless you purchase a special endorsement—it’s not expensive, but you won’t get it if you don’t ask for it
  • 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 homeowner policy only covers jewelry up to set limits if the loss results 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: You can combine your Home and Auto policies (and others) for even more savings.

Who Needs to Insure Their Homes?

  • Frame houses
  • CBS homes (Concrete Block Structure)
  • Manufactured homes
  • Mobile homes on acreage
  • Condos
  • Townhouses
  • Secondary homes
  • Homes you rent to others
  • Seasonal resident homes
  • Even residents that only rent should make sure they have the right kind of renters insurance in place.

Why We’re Different

You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for…

While most insurance products are similar in price and function, insurance providers are very different when it comes to structuring a policy that actually covers you.

There’s no such thing as a one-size-fits-all insurance policy when it comes to your business.

We’re your neighbors. We protect businesses and people we know and care about, and that means we always look for ways to protect you better, including carefully choosing the insurance companies we represent to be both affordable and responsive.

Contact us and let the professionals at our company help you forge the strongest shield possible to help you protect the things you are working hard to build.

(720) 221-8168

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Address: 4380 South Syracuse St. Suite 310 Denver, CO 80237
Email: info@teamais.net
Main Line: (720) 221-8168
Toll-Free: (877) 658-2472
Fax: (720) 221-6787
New Customer Lines: (855) 973-1202
(855) 712-6584

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