Coverage Plus Insurance - Triple R. Coverage Corp

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Homeowners Insurance Coverage Basics

 Homeowners insurance provides financial protection against disasters for your home, its contents, and other valuable possessions. We also offer additional coverage options so you can customize your policy to fit your needs.

Putting it all in context
The purpose of homeowners insurance is to cover the cost of restoring your home and possessions after a covered loss to the same condition they were in before the loss occurred. There are several different types of homeowners insurance policies that are available and not all coverage types are the same or are available in all states.
You should speak directly with your agent about your specific coverage needs and the options that are available to you.

Cost to rebuild
Your home is one of your most valuable assets. That's why it is important to make sure you have enough coverage to rebuild your house if it's damaged by fire or other covered loss. While the current market value of your home may be lower than you'd like, the cost to rebuild may be higher than you think. Also, updates, additions and improvements to your home can increase the amount of coverage you need.

Limits of liability
It is important to choose the right coverage for your home. If you choose lower coverage because it lowers your monthly premium, you might end up paying more out of pocket if a covered accident occurs. You should work closely with your agent to determine the right coverage for you.

For basic homeowners policies, a specific minimum amount of coverage is required for each of the major property coverages, based on the primary amount of insurance selected.

• Coverage A (Dwelling) = Replacement Cost for the House - usually determined by you working with your agent or Travelers representative
• Coverage B (Other Structures) = 10% of your Coverage A limit

• Coverage C (Personal Property) = 50% of your Coverage A limit

• Coverage D (Loss of Use) = 20% of your Coverage A limit.
For example, if your home is insured for $100,000 under Coverage A:

• Other Structures (Coverage B) is $10,000
 
• Contents (Coverage C) is $50,000
 
• Loss of Use (Coverage D) is $20,000.

Please call to make an appointment today with one of our agents for a free review and price comparison of your homeowners policy.



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