Typical policies provide coverage for you and relatives that live with you. So, if your roommate is not a relative you will not be protected under his or her policy. Renters policies are very affordable, starting at not much more than $150 a year and they provide liability protection as well as coverage for your personal possessions.

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Renters policies provide several benefits. A renters policy will provide compensation for many types of loss to your personal property. Renters policies also include liability protection. This can be especially important because a fire, caused by your negligence, could damage a large number of other rental units and the property contained in them. Liability coverage will normally cover your legal obligations to compensate other parties in cases like this as well as for other instances where you are legally liable for damage of loss.

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Homeowner policies specifically exclude reimbursement for damage caused by flood. Your home may be a significant distance from a major body of water but still be exposed to flood risk if your home was built in a flood plain. The National Flood Insurance Program has a flood risk indicator on their website. All you have to do is enter your property address and you will get an indication of the degree of flood risk you face. Our agency can get flood coverage for you. For an indication of the cost, the National Flood Insurance Site also has a ‘quick quote’ table of premiums to give you an idea.

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A standard homeowner policy provides coverage equal to 10% of the limit for Coverage C of a homeowner policy or $1,000, whichever is greater. This coverage is useful for protecting you while traveling and for other temporary situations. If you have property in excess of these amounts away from home or property that is kept away from your residence premises for extended periods, you should consider additional protection.

The 10% limitation for household property, is for property at an Insureds Residence Premise……There is no limitation for property carried on vacation or stored in a storage unit. (except whatever the contents limit is on the property)

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The association master policy is for coverage to the structure, which you don’t need. However, to get protection for your own possessions and for legal liability related to your own unit, you need your own policy. Many condominium associations will assess unit owners for master policy deductibles. That’s another reason why it is important to have your own policy and why it is important that the coverage in your policy match up well with the association master policy.

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Many natural disasters, such as hurricanes or tornadoes, are covered in a homeowner policy. Others, like earthquake and flood are not. Let us know if you have any concerns about your protection from loss due to natural or even man made disasters; we’ll be happy to review your insurance program and let you know what, if any, changes you might want to consider.

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Generally the answer is no. One claim is not a cause for concern on the part of insurance companies. But a pattern of claims may result in a premium increase or cancellation. So if you have a claim that is the third in three years, for example, that will be viewed differently than having one claim only. Individual claims that are suggestive of gross negligence can also result in significant premium increase or cancellation. An example might be an auto accident accompanied by a reckless driving or driving under the influence conviction.

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The claim process has a few variations but these are the essential steps once the claim has been submitted to the insurance company:

1. You will be contacted by an insurance company adjuster to gather detailed information about your claim.
2. Often, someone from the insurance company will inspect your auto or property for damage or will ask you to provide evidence of value and ownership for loss to property that is not a vehicle or real property.
3. An estimate is prepared.
4. A check is delivered.
5. Sometimes differences in actual and estimated damages arise, especially after repair work has been undertaken. Every attempt is made to resolve these differences and sometimes a supplemental check is prepared.

It is the responsibility of the insurance company to settle and pay your claim and the responsibility of our agency to make sure that is done as quickly and fairly as possible with a minimum of uncertainty and bother for you. We monitor claim progress closely and communicate with you throughout to make sure you are satisfied.

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You can file a claim several ways. The best way is to contact the insurance company directly. For contact information by carrier, click here. You can also complete the File a Claim form on our website or call us.

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