Homeowners Insurance

A binding, legal contract between the policyholder and the insurance company to protect their home and belongings if they are damaged, destroyed or stolen. A binding, legal contract between the policyholder and the insurance company to protect their home and belongings if they are damaged, destroyed or stolen.

House

Apartment or Condo

Mobile Home

Protection is provided against losses caused by fire, water damage, storm, theft, and other perils

Who & what are protected? Anyone named in the policy: spouse, children, residents or guests It can Protect detached structures too: garages, sheds, pools

Renters Insurance protects individuals who live in a house, mobile home, condominium, or apartment that is owned by another person protects individuals who live in a house, mobile home, condominium, or apartment that is owned by another person Protects against: Protects against: Theft Theft Loss of personal property Loss of personal property Loss of use Loss of use

Renters Insurance An average two bedroom apartment can easily contain personal property that would cost more than $20,000 to replace An average two bedroom apartment can easily contain personal property that would cost more than $20,000 to replace How much does your room cost? How much does your room cost?

Renters Insurance landlord or association may have insurance, but it only protects their building landlord or association may have insurance, but it only protects their building Your belongings are not covered under their policy Your belongings are not covered under their policy

Actual Cash Value (ACV) ACV coverage only pays for what the property was worth at the time of loss, its current value. ACV coverage only pays for what the property was worth at the time of loss, its current value.

Replacement Cost Replacement cost coverage will pay what it actually costs to replace the items you lost. Replacement cost coverage will pay what it actually costs to replace the items you lost.

How to Reduce Risk Keep an inventory of your personal belongings Keep receipts for major items Lock your doors Use your deadbolts Dont let your house look vacant Maintain your home