Home Insurance

Our home is one of our most valuable possessions. If your home becomes damaged or destroyed, insurance can help you repair or rebuild your home and replace damaged possessions. The main purpose of insurance is to protect you against losses you cannot afford.

A homeowners insurance policy consists of coverage for your home and your personal property. It also includes liability insurance.

Auto Insurance

When you buy an auto insurance policy, you are buying a package of individual coverages. Each coverage protects you against different types of losses:

Bodily Injury (BI) Liability Coverage
Pays up to the coverage limits for damages due to injury or death of others in a vehicle accident for which the operator of your vehicle are legally responsible. It also pays your legal defense costs. This tends to be mandatory.

Property Damage (PD) Liability Coverage
Pays up to the coverage limits for another individual's vehicle or property that has been damaged in an accident for which you or the operator of your vehicle is legally responsible. In most states this coverage is also mandatory.

Medical Payments Coverage
Pays up to the coverage limits for reasonable and necessary doctor, hospital, and funeral expenses for you and your passengers injured or killed in an accident, regardless of who is at fault. Coverage pays up to the coverage limits for pain and suffering which is not covered by medical, disability and PIP.

Collision Coverage
Pays up to the coverage limits for damage to your vehicle or a vehicle you are operating caused by a collision or rollover. Comprehensive Physical Damage Coverage pays, up to the coverage limits, for damage to your vehicle or any vehicle in your custody resulting from theft, fire, vandalism, flooding, hail or other perils (but not damage by collision or overturning). It is usually required if you have a vehicle loan. Rental Reimbursement pays up to a specified amount for rental vehicle charges while your vehicle is being repaired for damage covered under your policy. If you prefer not to incur the cost of renting a vehicle yourself and cannot be without a vehicle while yours is being repaired, you might consider this coverage.

Towing and Labor
Covers some costs incurred for services rendered at the place of breakdown or for towing to a repair shop. It covers the delivery of gas, oil or a battery, but not the cost of these items. If you lock the keys in the vehicle or need a tire changed, this may also be covered. These services are often included in auto club memberships, which can result in unnecessary duplicate coverage.

Motorcycle Insurance

Motorcycle Insurance typically offers a combination of collision, liability, theft, and related coverage designed specifically to meet the needs of motorcycle owners. If you own a motorcycle, you need this coverage to protect you from theft, collision, and other common exposures.

Motor Home and RV Insurance

Although the personal property in your RV will be covered under your homeowners policy, coverage on personal property is limited when the property is kept somewhere other than your premises.

To insure proper and adequate coverage, a RV owner should add a separate RV coverage to their current auto policy or secure a policy specifically for RV's.

If the RV owner's insurance carrier does not have this type of coverage available, there are insurance companies that specialize in RV coverage. Usually the cost is minimal, especially compared to the alternative of finding out the RV and it's possessions are not covered after a loss occurs.

Boat & Yacht Insurance

According to information from the U.S. Coast Guard, property damage to boats has been increasing. Many states now require boats to be insured. If you have your boat on a loan or use a marina, you will probably also be required to insure your boat. If you are not required to insure your boat, it is important you still consider purchasing boat insurance.

Boat insurance works similar to the insurance for your car, and can protect in the same way. But, since boats have different features than your car, you will want to make sure you have all the coverages you need and any savings that may lower your premium.

Condominium Insurance

Condominiums and townhouses have special insurance needs. They don't need as much insurance as a house, but owners have more to insure than a renter. The insurance needs for a condo owner include personal property and liability overage. Special policies for condominium owners, known as form HO-6, will provide the liability and personal property protection a condominium owner needs.

As a condominium owner, one needs to insure not only their personal possessions in the condo, but also any built in units such as cabinets, fixtures, appliances and shelves. In addition to covering the personal property, a condo owner also needs liability coverage. The liability portion of the policy would cover injures or damage to people or property that the condo owner would be liable for.

Renters Insurance

Even though you don't own your own home you have personal property that can be lost to fires, burglaries and even lawsuits.

The first time most people think about property insurance is with their first home since it is required by the mortgage company. Although renter's insurance is usually not required, it is just as necessary to have. Not only will it protect your personal items, but it will also help with temporary housing and liability protection, such as medical expenses for people on your property or a lawyer if you are sued by someone unintentionally injured by you.

If the ceiling in your aparmtent is damaged by a storm, the ceiling is covered by your landlord. But what about your brand new stereo and TV that was damaged? Also, while the ceiling is being fixed, do you have enough money to immediately find another place to stay? These are the types of things that would be covered by your renters insurance policy.

Renters insurance can help you pay for repairing or replacing personal property that is damaged, destroyed or stolen. It may also cover most lawsuits or claims against you if you are responsible for injuring others or damaging their property

Manufactured Home Insurance

Manufactured home insurance provides coverage for your mobile home, garage or shed, and your personal belongings. It may also provide financial protection in case you unintentionally injure someone or damage their property.

Having the right insurance helps you protect one of your most valuable assets - your home.

Fire. Theft. Windstorms. These are risks you face every day as a mobile home owner. You are also at risk in case someone gets hurt while at your home, or you accidentally damage someone else's property.

Mobile home insurance offers peace of mind in knowing that your finances won't suffer if unexpected events like these happen.

Do you have a mortgage on your mobile home? The financial institution that holds your mortgage may require you to have mobile home insurance. Similar to conventional home insurance, mobile home insurance protects you in four basic ways:

• Enables you to repair/replace or get actual cash value for your mobile home usually depending on age
• Allows you to replace your personal belongings if they are destroyed, stolen or damaged
• Covers injuries that happen to other people or their property while in your home
• Covers your additional living expenses if you're forced to leave your home because of a claim
  

Umbrella & Excess Liability Coverage

Umbrella insurance is designed to give one added liability protection above and beyond the limits on homeowners, auto, and watercraft personal insurance policies. With an umbrella policy, depending on the insurance company, one can add an additional 1-5 million in liability protection.

This protection is designed to activate when the liability on other current policies has been exhausted.

Liability insurance is the portion of a homeowners or auto policy that pays for expenses such as the injured persons medical bills, rehabilitative therapy, and lost wages due to the negligence of the at fault person. The liability portion of an insurance policy also covers a legal defense representative if the negligence would happen to land the at fault person in the court room.

A personal liability umbrella insurance policy can give one added liability protection without a large added cost.

Flood Insurance

Approximately 30% of all flood claims occur in low to moderate risk areas. Homeowner insurance does not cover flood damage, but Federal Flood Insurance does. Flood insurance also covers mudflow, dirt and debris resulting from moving water.

Homeowners with mortgaged property in a Special Flood Hazard Area (SFHA) are now required by federal law to obtain flood insurance. Lenders must comply by requiring flood insurance on the outstanding mortgage balance for the life of the loan.

Your coverage is based on your home's value, minus your land value. Flood Insurance up to $250,000 is available for residential buildings and also the option of up to $100,000 for contents. Since flood policies are backed by the US government, all valid claims are 100% guaranteed.