Everyone who owns a home buys homeowner’s insurance to cover the dwelling and some level of coverage for personal property. But homeowner’s insurance and renter’s insurance can offer many additional benefits other than for just coverage for the dwelling and personal property.
We at Leap Carpenter & Kemps Insurance know how these additional benefits can help you in the event of a covered loss. Let’s look at some of the other kinds of coverage and benefits you get with the right type of personal insurance.
- Replacement Cost Coverage. If you select this kind of added coverage on your home or renter policy, you will have the added benefit of replacing your damaged property with new. Without this coverage, your settlement would be depreciated, and you will not have enough to replace your damaged property with new.
- Identify Theft. Many personal insurance products can include some level of coverage for identity theft. Generally, this coverage would help with expenses you incur trying to get your identity back in order and your credit cleared.
- Additional Living Expense. If you have a covered loss that requires you to move out of your home additional living expense can provide funds to offset expenses for temporary housing, food and other kinds of out of pocket expenses.
- Advances of Funds. If your loss is substantial, the insurer can offer an advance on future repair expenses to help you make deposits to contractors and other vendors.
- Claims And Adjusting Services. Many personal insurance companies have experienced professionals ready to help you manage your loss. These people can help you better understand the claim process and work with contractors to help you get your property replaced or restored as soon as possible.
- Coverage for expensive art, guns or jewelry. If you own any kind of art or collections that may have a high value, your homeowner’s insurance can provide coverage with many different deductible options.
- Lenders Required Coverage. If your lender requires homeowner insurance coverage, we can provide the necessary documentation to meet these kinds of requirements.
- Claims Due To Dog Bites. Your home or renter insurance coverage can include coverage in the event your dog bites a third party.
- Increased Cost Of Construction. If your home is damaged and the build codes now require different construction you might be on the hook without the coverage. Remember insurance is designed to repair or replace wit like kind and quality. But if the building codes require something different you need this coverage. For example, if you have single pane windows but the building code requires energy efficient window, building code coverage will provide the funds of offset the difference between what you have and what you need.
- Property Away From Your Home Or Apartment. Most renters and homeowner’s policies have a specific amount of coverage for personal property that is away from your scheduled property.
- Defense Coverage. If you are involved in a covered claim that includes litigation your personal insurance will provide defense expenses. Many time these defense firms are expert in the specific field of the occurrence. Usually, these kinds of expenses are subject to specific terms and are subject to the policy limits.
- Coverage For Fences And Other Buildings. A homeowner’s insurance policy can cover sheds, fences, and landscaping that is located on the covered property. Usually, these have specific limits and conditions, so we recommend you always read your policy.
- Medical Expenses For Injured Guests. Most renters and homeowner’s insurance policies have covered called premises medial. This coverage allows an injured guest to have access to insurance without having to go to court to collect from you.
- You Can Purchase Special Coverage. If you need flood or earthquake insurance, we can help you obtain the best possible combination of coverage, price, and service.
- Higher Limits Of Liability. If you have the need for higher limits of liability your insurance company can offer limits in most cases of up to ten million dollars. If you own a boat, have a second home or own your home, you should consider higher limits to protect your personal assets.
- Access To A Licensed Professional. Using an independent like us does not cost you anymore. We are able to help you find the right coverage for your family or business. Our knowledge of the market will allow you to have the best coverage possible. We will work with you to determine your risks and needs. We will market your coverage with many of our insurance companies, then deliver options for your considerations.
All these added benefits are subject to specific term and conditions. Remember, each policy is different. We recommend you read your policy to make sure the coverage you have meets your needs.
In 1938 Mance Vaught made a life-changing decision to open his own full-service insurance agency. He chose Placerville, California, a friendly town in El Dorado County, California to start his one-man insurance agency. Although we have grown, Mance’s original practice of high quality policies for almost any insurance need, remains our standard. We match your requirements with the best value by offering a complete, and competitive assortment of policies from many insurance companies. We are staffed with experienced, knowledgeable agents to advise you in difficult to place coverage.