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Homeowners Insurance
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A binding, legal contract between the policyholder and the insurance company to protect their home and belongings if they are damaged, destroyed or stolen.
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House
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Apartment or Condo
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Mobile Home
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Protection is provided against losses caused by fire, water damage, storm, theft, and other perils
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Who & what are protected? Anyone named in the policy: spouse,
children, residents or guests
It can Protect detached structures too: garages, sheds, pools
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Renters Insurance protects individuals who live in a house,
mobile home, condominium, or apartment that is owned by another person
Protects against:• Theft
• Loss of personal property
• Loss of use
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Renters Insurance
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?
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Renters Insurance landlord or association may have
insurance, but it only protects their building
Your belongings are not covered under their policy
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Actual Cash Value (ACV)
ACV coverage only pays for what the property was worth at the time of loss, its current value.
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Replacement Cost
• Replacement cost coverage will pay what it actually costs to replace the items you lost.
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How to Reduce Risk Keep an inventory of your personal
belongings Keep receipts for major items Lock your doors Use your deadbolts Don’t let your house look vacant Maintain your home