Home policies provide rate credits for smoke alarms, deadbolt locks, fire extinguishers, central station monitored burglar and fire alarms, and sprinkler systems. Make sure your agent or company are giving you the proper credits. ...
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How much can I save if homeowner’s and auto insurance is combined with one company?
Substantial discounts are available to combine auto, home, and other personal lines policies with one company. Savings are as much as 20%. ...
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I have a finished basement with a sump pump. Will my policy respond to damage if the sump pump malfunctions or overflows?
Many homeowner's policies exclude water damage for water or waterborne material that backs up through sewers or drains or overflows or is discharged from a sump pump or related equipment. Flood, ground, or surface water are also excluded. A separate endorsement is available to provide coverage for water back-up of sewers and drains and sump pump ...
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Should I purchase a personal liability umbrella policy?
You probably should consider purchasing a personal liability umbrella policy with a limit of $1,000,000 or more. Personal umbrella policies will pay beyond your underlying policy limits for personal liability and auto liability exposures. Umbrella policies include coverage for personal injury which covers exposures such as libel, slander, ...
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What limit of coverage should I maintain for personal liability?
Lawsuits are the "American Way." You should provide a minimum of $500,000 of coverage for personal liability under your homeowner's insurance policy (some companies offer a primary limit of $1,000,000). You should also consider an umbrella policy to provide an additional $1,000,000 of personal and automobile liability coverage. The cost to provide ...
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Property values and construction costs have increased in the past few years. How do I know if the coverage amount under my homeowner’s policy is adequate?
You should insure your home for full replacement cost of the structure. Construction costs have increased dramatically in this decade. Your home should be evaluated and any improvements you have made should be considered. Some policies provide a dwelling replacement extension of 20-50% above the dwelling limits shown on the policy. You should ...
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