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Where would you be without a roof over your head?
Insurance for homes, condominiums, townhouses and second homes may require different types of coverage. In general, most standard insurance policies cover the physical structure and some of the personal contents of your residence. You will also need liability coverage to provide protection for your assets should someone outside of your family be injured or suffer the loss of personal items while on your property.
Polices offered by different insurance companies vary in the coverage offered. Talk with your Independent Insurance Agent at the Martin Insurance Agency about your personal situation. Are you at risk for weather related damage? Have you completed construction that resulted in an increase in the value of your property? Do you have pets? Is replacement cost insurance appropriate for you? Do you have valuables that are not covered by normal policy provisions? Will your extra expenses be covered should you lose the use of your residence? Ask what affects the cost of your insurance, such as your credit score. Discuss what discounts and deductibles are available. Let our agents ask questions and guide you through the myriad of possible combinations of coverage so they can construct a policy with appropriate and affordable coverage for your lifestyle.
The council of your Independent Insurance Agent is especially important in analyzing the coverage necessary for different kinds of residences. Condominium insurance is complicated by the variety of coverage offered by association and management groups. Some policies are limited to just the coverage of common areas. Others cover the primary building (exterior walls, roof, floors, elevators) and common areas, but interior walls may or may not be covered. The policy may cover the building and any items therein that are not personal property. Another type will cover the building, your unit and any fixtures or improvements/upgrades made to the unit.
It is important to obtain information about what the association or management group does cover so that our agent makes sure you do not pay for duplicate coverage or lack necessary coverage.
The insurance carried by your landlord will not cover your belongings, improvements you have made, many accidents on the property, or legal fees. Renter’s insurance protects the value of your and your guests’ property in the event of fire, water, theft, or inclement weather, provides medical coverage for guests injured on the property and may assist in the payment of legal defense fees. In the event that you lose the use of the residence, will your insurance policy cover any of the temporary living expenses?
Homeowner’s Insurance (Other Considerations)
Separate insurance may be necessary to cover the physical loss of antique furniture, jewelry, fine art, furs, golf equipment, musical instruments, oriental rugs, sports equipment, cameras, china and silver, computer equipment, watches, gemstones, medals, stamp and coin collections, firearms, money, precious metals, and stocks and bonds. Insurance can also cover these items if they are stored away from your dwelling.
Identity Theft and Identity Fraud Protection
Identity theft can seriously impact your life. It can affect your credit rating, your good name and may put you in danger of arrest for a crime you did not commit. Your personal information is required by credit agencies, financial institutions, insurance companies, the government, doctors and other entities. Sometimes personal information is gathered on the internet or through phone calls. Should anyone take your personal information and use it to commit a crime, you are a victim of identity theft. Identity theft insurance will assist you in recovering your identity and often will pay (up to a designated limit) expenses incurred as a result of this criminal act.
Policy coverage is subject to the terms, provisions, exclusions, conditions and endorsements as stated in the policy.
If you have any questions, please call the Martin Insurance Agency at 847.526.5755
If you would like, you can also submit an on-line request for a quote