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Homeowner's Insurance

Coverage A - Dwelling (Residence Premises)
The dwelling "residence premises" coverage limit is a critical component of your homeowners policy. DO NOT rely on the purchase price of the home, the amount of the mortgage loan, the amount set by the property tax appraiser.

In order to be adequately covered, your home must be insured for the amount it will take to rebuild the home at current prices for building materials and labor costs, including the amount necessary to bring it into compliance with current building codes. Please contact your insurance agent, consult a licensed contractor or certified property appraiser who will provide you with a detailed estimate. This is the only way to ensure that you have adequate coverage at the time of a loss.

If your home is underinsured at the time of a loss, there may be a penalty or reduction in the amount the insurance company will pay for the loss.

Coverage B - Other Structures (10% of Coverage A)
Examples: Detached Garage; Shed; Detached Pool Enclosure; Fence. If the structure is attached to the dwelling, it is typically covered under Coverage A - Dwelling.

Illustration: Coverage A $100,000 x 10% = $10,000 If $10,000 will not replace your Coverage B items, ask your agent to increase your Coverage B limit to ensure that you have adequate coverage at the time of a loss. Please ask your agent about sub-limits / exclusions.

Coverage C - Personal Property (50% of Coverage A)
This includes carpets, wall coverings, lighting, furniture and all personal belongings. Illustration: Coverage A $100,000 x 50% = $50,000 If $50,000 will not replace the interior of your residence premises and all personal belongings you may wish to increase this coverage limit.

Ask for a copy of our inventory guide. You may find useful in determining your personal property value. Please discuss increased limits, expanded perils and the various sub-limits associated with Coverage C to ensure that your valuables are adequately insured.

Coverage D - Loss of Use
Additional Living Expenses: The extra expenses that a homeowner may have when the residence premises is uninhabitable due to loss or damage by a covered peril.

Fair Rental Value: The loss of rental income when the residence premises is uninhabitable due to loss or damage by a covered peril.

Civil Authority Action: The extra expenses coverage becomes available if civil authority prohibits use of the property. This coverage does not apply to mandatory evacuations for tropical storms, hurricanes, etc. This coverage is limited to a two (2) week period.

Coverage E - Personal Liability
This provides protection for a liability claim against a named insured(s) of the covered residence premises because of his or her injury or harm to a non-resident party.

Coverage F - Medical Payments to Others This coverage applies to accidents that occur on the insured's residence premises or as the result of an action by the insured at any location up to the selected coverage limit. This does not provide medical payments for the named insured's family.

Deductibles - There are two deductible limits on the homeowners policy.
The All Other Peril deductible is a set amount that is applied to all covered losses other than hurricane losses. The second deductible applies only to hurricane losses. Both deductibles apply to Coverages A, B, C and D.

Effective October 2005, all insurers are required to offer hurricane deductibles of $500, 2 percent, 5 percent, and 10 percent of the dwelling limit for personal lines residential policies. Some of these hurricane deductible options may not be available based upon the value of your home. Consumers are limited to one hurricane deductible per calendar year. However, for loss resulting from a second or subsequent hurricane within the same calendar year, the All Other Peril deductible may apply if it is a greater amount than the remaining balance of the hurricane deductible.