HOME INSURANCE
Home Insurance
Your biggest asset may be your ability to earn an income but typically your biggest investment is your home. A comprehensive homeowners policy with one of our Insurers will provide coverage in the event your home is damaged or destroyed by a covered peril. Since the value of real estate property frequently increases over time, your financial interest in the property also may increase. An annual review with one of our specialists is advised.
Along with its investment value, home ownership carries with it a potential exposure to financial loss from unpredictable events such as: fire, windstorm damages, theft of personal property, and lawsuits from an injured person. Homeowners can protect themselves against all of these losses by purchasing homeowners insurance. Our experienced insurance professionals will analyze the exposure to your dwelling and personal property and make a personal and professional recommendation.
Features to review on your homeowners’ policy:
- Replacement cost value of your home
- Guaranteed replacement cost clauses for both your house and personal property
- Other Structures on premises (Such as garages, outbuildings, and swimming pools)
- Personal Belongings
- Additional Living Expenses
- Comprehensive Personal Liability
- Scheduled Items – Jewels, Fine Arts, Antiques, Valuable Items
- Auto-Home account credits – substantial savings!
- Earthquake as an endorsement
- Flood as an endorsement
Individuals who do not own their own home may live in an apartment, condominium or house and pay rent to the owner of the dwelling. These individuals need protection for their personal property, loss of use, personal liability, and medical payments. Also, the tenant may have an interest in improvements that they had made to the rental unit. An account credit is available on a Tenants policy if it is accompanied by a Personal Massachusetts Auto policy.
The condominium is a joint enterprise type of ownership in which there is a common ownership of certain portions of the premises. The individual also has exclusive ownership of the right to occupy a specific unit, and sometimes also individually owns certain items of physical property within the unit. The ownership deed for a condominium, usually called a master deed sets forth the exact provisions of ownership and rights of occupancy of all the unit owners.