Home Owner Insurance - There are several kinds of home insurance policies. The Basic Homeowners Policy covers your dwelling and personal property against damages from fire, smoke, storm, lightning, explosion, aircraft, vehicles, vandalism and theft.
Broader policies can cover falling objects, snow and ice damage, etc. Extended coverages can cover more damages which the home owner can specifically request.
Various factors determine rates of a homeowners policy. The square footage, condition, location, age, building materials are all considered to determine reconstruction costs.
You should talk with an Agent/Broker so you can understand the difference between "actual cash value" and "replacement costs." Actual Cash Value is the replacement cost, less depreciation. Replacement costs policies afford more protection than actual cash value.
Some Carriers offer Guaranteed Replacement Cost Coverage and some offer Extended Replacement Cost Policies.
You should complete an inventory list of your possessions; place valuations on the more expensive items and video everything in detail and include serial numbers.
Condo Insurance covers you for thefts by break-ins, water, fire and smoke damage, vandalism and liability insurance
Coop Insurance offers identical coverage to Condos such as bodily injury and property damage to others within your unit. Both Condo & Coop can cover furniture, clothing, appliances and other personal items.
Condo or Coop Associations do not insure you for personal items or the interior or your walls or your unit.
Flood Insurance - Home Owner Policies do not cover Flood damage. If you need it, cal the National Flood Insurance
Earthquake Insurance - Get a separate earthquake policy if you live in an earthquake prone area.
Renters Insurance - Renters Insurance covers your personal possessions and not the dwelling structure. It generally covers burglaries, fire, storm, water and smoke damages. It also covers liability; you never can tell if someone slips in the kitchen.
Endorsements - You don't need Lloyds of London because we can handle just about anything if you're willing to pay an extra premium to buy endorsements that increase your coverages.
Personal Umbrella Liability - If you need more liability coverage than the normal policy, we offer special umbrella liability policies. You can get a special rider for expensive jewelry, art and collectibles, etc.
Always check your deductible clause, because it determines your overall rate. You can lower your rate by accepting a higher deductible. Some insurance companies are quoting deductibles in percentages of the insured value; calculate it out to understand the actual deductible dollar amount.