Home Insurance
Protect your property, protect your family.
At Shivers & Associates we understand the importance of your home. We want to help protect your home the best way we can. Everyone deserves quality customer service, whether you own your home or are renting. We serve you by personally shopping a variety of companies to find the best solution for you.
Homeowner’s insurance protects the most significant investment you will likely ever make. The trouble is, many homeowners do not fully understand their homeowner’s insurance policy, nor do they know the coverage they need to have. Here is some helpful information as you navigate your own homeowner’s insurance policy so that you can make the best, most informed decision when shopping around.
Coverage Enhancement Options:
What Does a Homeowner's Insurance Policy Cover?
The following coverage comes standard with almost every homeowner’s policy:
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Dwelling Protection: Coverage for sudden and accidental damage that takes place inside or outside of your home (think fire, tornado, or hail).
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Other Structures Protection: Covers sudden and accidental damage for structures separate from your home, such as a garage or a shed.
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Personal Property Protection: The cost of replacing items due to damage or total loss from a covered event or theft.
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Personal Liability: Protects you against the cost of injury when someone who does not live with you gets hurt on your property (for example, if a guest trips and falls over an uneven piece of pavement).
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Additional Living Expenses: This covers a hotel room or house rental cost while your home is rebuilt or repaired.
Though the above-listed coverages come standard, there are some differences between policies:
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Actual cash value policies cover the cost of your home and the value of your belongings based on depreciation. This means you will be reimbursed for how much your home and belongings are currently worth (after wear and tear), not for how much you paid for them.
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Replacement cost covers the actual cash value of your home and possessions without depreciation. So, if you were to lose your house or belongings, you would be reimbursed the cost it would be to replace them up to your policy limit.
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Extended replacement cost is similar to replacement cost coverage. This coverage however allows you to go beyond your policy limit by a certain percentage (Usually 25%) if you need to rebuild your home in the event of a total loss.
Not Everything is Covered
Homeowner’s insurance policies typically do not cover a loss due to a flood, earthquake, sewer lines, or drain backup. However, these additional coverages (known as endorsements) are usually available for purchase. You can also purchase additional coverage for high-value items (such as Fire Arms, Jewelry, Art, or Musical Instruments).
How are Rates Determined?
Insurance companies determine rates based on your home’s value, past claims, credit history, and the general frequency of claims and crime within your area. Discounts are usually offered for numerous policies with the same carrier (for example, home and auto coverage), when a security system or smoke alarms are present, and when an individual is claim-free.
Personal Umbrella Coverage
An umbrella policy is an extra layer of liability protection for you and your family. Personal Liability can be construed to mean many things, but in the event of a catastrophic accident or event, you don't want to be short on this coverage. A Personal Umbrella Policy can be the difference for many people in their time of need. Please ask our Agency about this coverage today.