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Homeowner’s Insurance coverage is essential to protect your most valuable asset. Connect Insurance has several carriers that insure homes of all values. From the Florida Beaches inland we have companies that provide coverage for your home. Home Owners Insurance also provides peace of mind in the event your home is damaged and you are unable to live in the structure. A standard homeowner’s insurance policy has essential types of coverage including coverage for your fine arts, weapons, cash, jewelry and other valuable. Please Call, Click or Complete the attached form for a free quote
HOME INSURANCE
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There are 7 essential coverage types you need to consider when purchasing a homeowners insurance policy. Below is a list of some coverage’s to consider when making your decision. As always our staff is standing by to assist you.
1. Coverage for the structure of your home.
2. Coverage for your personal belongings.
3. Liability protection.
4. Additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster.
5. Coverage for other structures such as fences, screen enclosures, sheds and other detached buildings on your property
6. Coverage for your possessions: Items may include fine arts; Jewelry, Fire Arms, and cash
7. Please note Home owners Insurance does not include coverage for Flood Insurance. Flood insurance is a relatively inexpensive policy to purchase depending on your location. We strongly recommend all clients purchase flood insurance even if you are not located in a flood zone. |
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FLOOD INSURANCE
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There are few things that can be more destructive than a flood. The fact is aanywhere it rains, it can flood. A flood is a general defined as a temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow. Many conditions can result in a flood: hurricanes, broken levees, outdated or clogged drainage systems and rapid accumulation of rainfall. Your homeowner’s insurance policy does not cover flood. Please Call, Click or Completed the attached form for a free quote
Just because you haven’t experienced a flood in the past, doesn’t mean you won’t in the future. Flood risk isn’t just based on history, it’s also based on a number of factors: rainfall, river-flow and tidal-surge data, topography, flood-control measures, and changes due to building and development.
Stop and look around your home and imagine just 1 inch of standing water around your entire house. Imagine the destruction of slowly watching water rise into your home and destroying everything that sits on the floor and just 1 inch above the ground. Add to that the destruction to the building, the drywall the insulation and the mold issues that will follow and you can quickly see why this relatively inexpensive policy is so very important to include in your insurance portfolio. |
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Builder’s Risk Insurance
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If you plan to remodel your home, make sure that the house, the contractor and the subcontractors have adequate insurance coverage.
Don’t make the mistake of waiting until an addition or extra room is completed to increase the insurance coverage on the structure of your home. If the new addition is destroyed or damaged before insurance coverage has been increased, you may be responsible for the cost of repairing or rebuilding the addition. Please Call, Click or Completed the attached form for a free quote
Contact your insurance agent or representative before—or shortly after—construction begins in order to increase the insurance coverage on your house to an amount that reflects the higher value of the rebuilt structure.
When hiring a general contractor, find out if the contractor has workers compensation and ask to see a copy of the policy. Workers compensation pays for medical and rehabilitation expenses and covers lost wages if the workers sustain injuries on the job. Injured workers may sue you if the contractor does not have proper insurance.
In most home improvement projects, the contractor subcontracts the builders, electricians and plumbers. The workers hired may not be full-time employees of the contractor and therefore not covered under the contractor’s workers compensation policy. While some independent builders, electricians and plumbers may carry their own workers compensation coverage, others may not.
You should verify the insurance coverage of the contractor and the subcontractors. If the coverage is insufficient, you may need to fill in the gaps by extending the limits of the liability portion of your homeowner’s policy.
If you purchase additional items, such as furniture, exercise equipment or electronics, you may need to increase the amount of insurance you have on your personal possessions. Keep receipts and add them to your home inventory.
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Condominium Insurance
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What type of insurance do I need for a co-op or condo?
If you have purchased a condo or co-op, the bank will require insurance to protect its investment in your home. You may, however, need more insurance to cover your personal items, liability or fees that may be charged to you regarding shared areas of the building like the lobby.
You will need two separate policies to protect your investment:
1. Your own insurance policy. This provides coverage for your personal possessions, structural improvements to your apartment and additional living expenses if you are the victim of fire, theft or other disaster listed in your policy. You also get liability protection. 2. A “master policy” provided by the condo/co-op board. This covers the common areas you share with others in your building like the roof, basement, elevator, boiler and walkways for both liability and physical damage.
To adequately insure your condo or co-op, it is important to know which structural parts of your home are covered by the condo/co-op association and which are not. You can do this by reading your association’s bylaws and/or proprietary lease. If you have questions, talk to your condo association, family attorney, or insurance professional. Please Call, Click or Complete the attached form for a free quote |
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Sometimes the association is responsible for insuring the individual condo or co-op units, as they were originally built, including standard fixtures. The individual owner, in this case, is only responsible for alterations to the original structure of the apartment, like remodeling the kitchen or bathtub. Sometimes this includes not only improvements you make, but those made by previous owners.
In other situations, the condo/co-op association is responsible only for insuring the bare walls, floor and ceiling. The owner must insure kitchen cabinets, built-in appliances, plumbing, wiring, bathroom fixtures etc.
Also ask your insurance professional about the following additional coverage’s:
1. Unit assessment this reimburses you for your share of an assessment charged to all unit owners as a result of a covered loss. For instance, if there is a fire in the lobby, all the unit owners are charged the cost of repairing the loss. 2. Water back-up this insures your property for damage by the back-up of sewers or drains. Water back-up may not always be included in a policy. Check to see that it is included. 3. Umbrella liability this is an inexpensive way to get more liability protection and broader coverage than is included in a standard condo/co-op policy. 4. Flood or earthquake if you live in an area prone to these disasters, you will need to purchase separate flood and earthquake policies. Flood insurance is available through FEMA’s National Flood Insurance Program ( http://www.floodsmart.gov/floodsmart/pages/index.jsp ). Both flood and earthquake insurance can be purchased through your insurance agent. 5. Floater or endorsement if you own expensive jewelry, furs or collectibles, you might consider getting additional coverage since there is generally a $1,000 to $2,000 limit for theft of jewelry on a standard policy.
When purchasing insurance, it is important to find an agent or company that specializes in condominiums or co-ops. Also don’t forget to ask about all available discounts. You can reduce your rates by raising your deductibles and by installing a smoke and fire alarm system that rings at an outside service. If you insure your unit with the same company that underwrites your building’s insurance policy, you might also get an additional reduction in premiums.
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Mobile/Modular/Mfrd Home Insurance
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Mobile Home Insurance can be a difficult coverage to obtain in some costal counties of the United States. Connect Insurance has markets to cover your mobile home even in these difficult markets. Please Call, Click or Complete the attached form for a free quote
Mobile home insurance policies provide two basic kinds of coverage: physical damage and personal liability coverage. Choosing the right insurance policy is much like choosing the right mobile home. You want it to fit your needs and lifestyle, but you also want the insurance coverage to fit within your budget.
These coverage options are available for rental mobile homes, commercial mobile homes, mobile homes that are used seasonally, or mobile homes located in a park or on private property. If you already have auto or homeowners insurance, you can try contacting the same insurer to see if you are eligible for a discount. |
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Physical Damage
Physical damage coverage pays for accidental damage to your mobile home, belongings, or other structures (such as attached patios or decks, garages or storage sheds) resulting from fire, hail, wind, theft and vandalism, or falling objects. The amount and degree of coverage varies from one policy to another, so make sure to compare policies carefully.
Some policies only cover specific causes of loss (named peril policies). This is basic coverage and while the low premiums may seem like a bargain, it could cost you hundreds of dollars in the event of a claim, if the damage is not caused by one of the named perils.
Generally, coverage under a regular policy doesn’t apply while the mobile home is in transit. Also, like regular homeowners insurance, flood is not generally covered, so be sure to find out whether you are in a flood zone and can purchase flood insurance through the National Flood Insurance Program.
Personal Liability Coverage
Damage to property isn’t the only hazard of modern life. Liability insurance coverage applies when there is a claim or a lawsuit against you after someone is injured or their property is damaged because of your activities. That amount may be more than what comes standard with a mobile home insurance policy, so it may be wise to consider purchasing additional liability insurance. Claims might include medical expenses, lost wages, pain and suffering, and even property damage. However, liability coverage does not pay claims for injuries to you or the members of your household.
Not all insurance companies offer mobile home insurance in all states. Check with your agent or insurance company representative to determine the availability of coverage in your state or contact your state insurance department.
Personal Umbrella Insurance
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If you are ever sued, some standard homeowners or auto insurance policies will provide you with some liability coverage, paying for judgments against you and your attorney’s fees, up to a limit set in the policy. However, in our litigious society, you may want to have an extra layer of liability protection. That’s what a personal umbrella liability policy provides. Please Call, Click or Complete the attached form for a free quote
An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners, renters, condo or auto policy. It will also cover you for things such as libel and slander.
For about $150 to $700 per year you can buy a $1 million personal umbrella liability policy. Additional coverage amounts are also available at greater savings.
Because the personal umbrella policy goes into effect after the underlying coverage is exhausted, there are certain limits that usually must be met in order to purchase this coverage. Most insurers will want you to have about $100,000 of liability insurance on your auto policy and $300,000 of liability insurance on your homeowner’s policy before selling you an umbrella liability policy for $1 million of additional coverage.
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Renters Insurance
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Renters insurance provides financial protection against the loss or destruction of your possessions when you rent a house or apartment. While your landlord may be sympathetic to a burglary you have experienced or a fire caused by your iron, destruction or loss of your possessions is not usually covered by your landlord’s insurance. Because in most cases, renters insurance covers only the value of your belongings, not the physical building, the premium is relatively inexpensive. Please Call, Click or Complete the attached form for a free quote
By purchasing renters insurance, your possessions are covered against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm and water damage (not including floods). Like homeowners insurance, renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court.
Renters insurance covers your additional living expenses if you are unable to live in your apartment because of a fire or other covered peril. Most policies will reimburse you the difference between your additional living expenses and your normal living expenses but still may set limits as to the amount they will pay. |
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There are two types of renter’s insurance policies you may purchase:
1. Actual Cash Value – pays to replace your possessions minus a deduction for depreciation up to the limit of your policy
2. Replacement Cost – pays the actual cost of replacing your possessions (no deduction for depreciation) up to the limit of your policy
With either policy, you may want to consider purchasing a floater. A standard renter’s policy offers only limited coverage for items such as jewelry, silver, furs, etc. If you own property that exceeds these limits, it is recommended that you supplement your policy with a floater. A floater is a separate policy that provides additional insurance for your valuables and covers them for perils not included in your policy such as accidental loss.
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