home insurance Archives - Page 13 of 16

What is other structures coverage in my Atlanta home insurance?

October 19, 2020October 22, 2018 by dee barnett

Other structures coverage can provide insurance for detached structures on your property.

Other structures coverage is just like it sounds – it covers the other large structures that are on your property besides your house. Most times, other structures coverage will be included in your homeowners policy. The best way to know if you have this coverage already is to look at your insurance declarations page and see if you have something called “Coverage B,” which is another term for other structures insurance.

Other structures coverage was originally created for detached garages. However, as home prices increased and less developed land became available in the 1970s, builders began building attached garages. That still doesn’t mean that other structures coverage is completely useless.

What Does Other Structures Insurance Cover?

If you have one of the following structures, you should look out for other structures coverage in your homeowners insurance policy:

A detached garage
A pool or pool house
A shed
A gazebo
A fence
A paved driveway

It’s important to note that just because you have other structures coverage, the complete cost to replace a structure may not be covered by the insurance. Other structures coverage is based on a percentage of the value of your home. So, depending on your policy and carrier, the maximum coverage limit could range anywhere from 5 percent to 20 percent of the value of your house.

Also keep in mind that just because you have other structures insurance or even a general homeowners policy, the belongings inside of your home or other structure may not be completely covered. Personal property coverage, or “Coverage C,” is also usually only a percentage of the value of that item or of your home. So, it’s important to review your homeowners declarations page and talk to your insurance agent about what you’re covered for and how much the coverage is.

Our agents are professionals at not only breaking down what’s in your homeowners insurance but giving you the best coverage and pricing that’s personalized to your needs. Call us at 770.497.1200 or fill out our online quote form to get free quotes on your homeowners insurance and compare the coverage you can get on the other structures on your property.

Can I Remove Other Structures Coverage to Save Money?

I hear some of you saying, “Wait, I don’t have anything else attached to my house or on my property,” or “I don’t really care about insuring my other structures.” So, can you take off other structures coverage to save money on your homeowners?

Homeowners insurance is usually not the piecemeal that other types of insurance can be. Whether you have an HO-3, an HO-5, or some other type of homeowners coverage, it usually comes as a bundle – a bundle that will more than likely already include other structures. This is because insurance companies want to be able to offer coverage to the vast majority of people, who will usually have at least a shed or fence.

That being said, if there’s anything on your property that falls into the “other structures” list, you should probably keep your other structures coverage anyway. Your insurance carrier may exclude some structures from the coverage if they decide that it needs too many repairs or if it’s too dangerous to use due to a lack of maintenance, but those cases are few and far between. Your carrier could also include other structures in your dwelling coverage, which will lump everything on your property together in terms of coverage anyway.

If you don’t have any other structures on your property, taking off other structures coverage could mean that you’ll have to skimp on your homeowners coverage altogether. So, you may not be paying for other structures coverage that you’ll never use, but you could also be missing out on coverage that you need for your actual home.

If you’re really worried about saving money regarding this part of your homeowners, there are other ways you can save money – for example…

Discounts!

Talk to your insurance agent to make sure you’re getting all of the discounts you possibly can. Ask about common discounts like loyalty and bundling. Ask about carrier specific discounts. Ask about home improvements like a security system or an impact-resistant roof that may qualify you for a discount.

You can also ask one of our insurance professionals! We’ve formed relationships with multiple, trusted insurance companies so that we can get you the best rates on the specific coverage you need. We’ll help you compare quotes on policies that cover only the property you want to cover and find ways to save you money on all the rest. Call us at 770.497.120 for a free quote or get started with our online form.

Sources:

https://www.irmi.com/term/insurance-definitions/other-structures

https://www.thebalance.com/remove-other-structures-insurance-coverage-2645713

What perils are covered by Atlanta home insurance?

May 25, 2022October 4, 2018 by dee barnett

Home insurance covers a variety of perils.

“Peril” may seem like a five-dollar word used only in stage plays and the literature of old, but it’s actually used a lot in terms of homeowners insurance. A peril is usually defined as a serious or catastrophic threat to your home – including storms, heavy vandalism, and any other Independence Day type of catastrophe that strikes your humble abode.

We’re here to tell you which perils are covered by most policies, which perils you’ll need additional coverage for, and what type of plans you should look for in the Atlanta area.

What is Peril Insurance for Homeowners?

Perils in insurance usually include wind, hail, civil commotions, vehicular damage, smoke, aircraft damage, and explosions. (No, we’re not making this up.)

However, different perils are covered in different ways or may not be covered at all depending on location. Typically, insurance carriers will offer two types of perils insurance: Named Perils Insurance and All Risks Insurance.

What is Named Perils Insurance?

Also called “Broad Form”, Named Perils insurance is a common type of policy when it comes to comprehensive homeowners insurance. Basically, if the policy names a certain natural disaster or general threat to your home, you’ll be covered for it.

This can be useful if you want to directly focus your coverage on certain threats and disasters that you know are common to your location. So, for Atlanta, you may not be as worried about earthquakes as you are about heavy storm damage from the latest hurricane.

These policies are usually less expensive and will probably be the first ones offered when you speak with your broker about homeowners insurance.

What is All Perils Insurance?

Unlike the Named Perils insurance that will explicitly list items that you ARE covered for, All Perils (or “Special Form”) insurance will cover anything EXCEPT what is explicitly listed as excluded from the policy. For example, if you have All Perils insurance and the policy doesn’t explicitly exclude earthquakes, you’ll still be covered for earthquake damage (in the event that that stray Georgia earthquake decides to wreck your house).

However, buying an All Perils insurance policy does not mean that you’ll be completely covered for all of the unlisted threats. Your insurance carrier will still usually direct coverage funds toward the perils that are most likely to happen for the area. Therefore, it’s always a good idea to speak with your agent about the specific concerns that you have. Our Atlanta Insurance agents are here to learn all about your homeowners woes and are professionals in finding the perfect perils insurance plans and endorsements for the perfect price. Call us at 404.352.0304 to get a quote on the best insurance plans for you!

What Perils Are Included in My Atlanta Homeowners Insurance?

The most common type of homeowners insurance plan is a basic HO-3 plan, which will generally cover natural disasters, accidents, and property damage. More specifically, they’ll probably cover the following perils:

Fire

Note that most insurance carriers will consider fire damage as being different than smoke damage. So, if there happened to be a fire where fires usually don’t go in a house, you’ll be covered for what was unintentionally burnt to a crisp.

Lightning

Ah, Mother Nature. When she strikes, she strikes quickly and without warning. Luckily, most perils insurance will cover damage caused by natural electricity. If a lightning strike fries your flat screen, cooks your CPU, or annihilates your air conditioner in the dead humidity of the Georgia summer, talk to your insurance agent about how much coverage you have to fix it. Remember though, your insurance will only cover damage made by a strike to your electrical system, not problems coming from your electrical company’s side.

Explosions (No. We’re still not kidding.)

Hey, you never know what could happen. Some carriers don’t include this part in their regular homeowners insurance, so it’s always important to consult your agent about if you’re covered and how much you’re covered for.

Windstorms

When that light summer breeze gets a little too aggressive in the form of hurricanes, tornadoes, or cyclones, your insurance can help you cover the cost of repairs to both the outside and inside of the house if the storm suddenly makes a new door or window. Keep in mind, though, that in the event of a hurricane or heavy rain, your normal HO-3 plan will not cover flooding from surface water that’s been on the ground.

Hail

When rain acquires the strange ability to clobber your property in the form of ice chunks, your perils insurance can help you plug up the holes. Just make sure you skip out on the hailstorm show through an open window – homeowners insurance won’t cover any internal damage caused by hail that enters through an existing opening in your home.

Riots & Civil Commotions

A riot, in insurance terms, is defined as three or more people causing damage. Similarly, a civil commotion is when a large group of people causes damage to a property.

Aircraft Damage

Anything from balloons to helicopters to airplanes to spacecraft to self-propelled missiles could be included in this part of your homeowners policy. So yes, if part of a UFO crash lands into your roof, don’t worry, you might be protected. (At least from the damages.)

When in doubt, your insurance policy declaration page will tell you what is covered by your insurance and/or if you have Named Peril or All Perils insurance.

What Perils Are NOT Covered by Homeowners Insurance in the Atlanta Area?

Luckily, Atlanta is located fairly inland and is not prone to natural disasters. Many of the peril exclusions on Atlanta home insurance are ones that that are standard across the board. Most homeowners insurance policies will not include these events in a normal policy or cover them on a very limited basis:

Flood Damage
Sewer backups
“Earth Movement”
Jewelry and Fine Art
Termites

Keep in mind that any piece of coverage may have dollar limits on the object and repairs that they cover. Also, if you have concerns about covering damages to your home because of the above perils, there are plenty of options for supplemental insurance that is specifically tailored to these types of disasters and emergencies.

Call Atlanta Insurance at 404.352.0304 or fill out our online quote form for a free quote on some of these supplemental plans so that you can rest assured that all of your home concerns are addressed.

Sources:

https://www.insuranceopedia.com/definition/130/named-peril

https://www.investopedia.com/terms/n/named_perils.asp

https://www.thebalance.com/homeowners-insurance-peril-2645726

Don’t fall for these 8 Atlanta home insurance myths

August 28, 2019September 20, 2018 by Kate Betts

We'll explain the truth and debunk eight home insurance myths.

When you’re dealing with something as important as Atlanta home insurance, it’s crucial to have the facts. There are many assumptions and myths out there about home insurance. We’re going to turn some of these home insurance myths upside-down and discover the truth.

1. MYTH: I should use my home’s market value when I insure it.

The truth: You need enough insurance to completely rebuild your home from the ground up.

The goal is to have enough home insurance to completely rebuild your home from the ground up if it were destroyed, including building materials and the labor of the contractors. That means insuring your home for its replacement cost. The market value of the home, or the amount that a house would reasonably sell for, may not accurately reflect the amount you would need to rebuild the home.

2. MYTH: Home insurance covers flooding.

The truth: It doesn’t. This is one of those home insurance myths that is not true.

Many homeowners only find this out after their home sustains flooding due to heavy rain. But flooding simply isn’t covered by Atlanta home insurance, even though certain types of water damage are. To protect your home against flooding you would have to have a flood insurance policy in place. You can get flood insurance from the National Flood Insurance Program (NFIP) through an agent.

3. MYTH: Home insurance covers all of my personal belongings.

The truth: Kind of. This is one of those home insurance myths that you need to talk to your agent about.

Yes, a typical home insurance policy will provide coverage for your personal belongings – furniture, clothing, and so on. But there are a few things to consider. First, you need to check and see what the limit of coverage is for your personal belongings (the maximum amount of money insurance will pay out.) You also have to check to see what losses and perils are covered under your policy.

Jewelry and valuables are something else you have to think about. Your policy may only provide limited coverage for jewelry, art, and other valuables – and this coverage might not be enough to fully protect your treasures. You might have to explore options for covering your jewelry, valuables, art, and collections.

4. MYTH: Home insurance will cover termite damage.

The truth: Termites are pestilential beasts and damage by these tiny demons is not covered by home insurance.

If termites go to town and turn your home into their own personal buffet, the damage and cost of extermination would not be covered by home insurance. Termite damage is considered to be a maintenance thing, and home insurance typically doesn’t cover maintenance-related issues.

Pro-tip: Have regular pest-control and termite inspections. Squash the bugs before they cause serious damage – or emotional distress.

5. MYTH: Home insurance will replace my belongings like new.

The truth: Well, it depends on your policy.

You can insure your personal belongings for their replacement cost value or their Actual Cash Value.

Actual cash value coverage means that your insurance company will give you the value of the belongings at the time of the loss as reimbursement. (This is the depreciated value, and it may not be enough to replace your belongings at today’s prices.)

Replacement cost value coverage can replace your belongings at today’s prices.

The point is you need to read your policy to see how your personal belongings are covered and to determine if you have enough insurance.

6. MYTH: If an injury occurs in my home, it’s covered.

The truth: Liability coverage takes care of your legal responsibility to your guests if they’re injured, not your family.

If a guest trips over your garden hose and breaks an arm, your liability would probably be covered by home insurance. (For example, their medical bills or expenses if they sue you.) But if a member of your family trips over the same hose and breaks an arm, you would have to use your health insurance.

7. MYTH: Home insurance covers my home-based business.

The truth: You need to check your home insurance policy (as with many of these home insurance myths.)

You need to make sure your home-based business is properly insured. You might need to add coverage to your home insurance policy through an endorsement, get a home-based business policy, or get a business owner’s policy.

8. MYTH: Home insurance is too expensive to be worth it.

The truth: Home insurance is a financial safety net.

The house you live in is a big investment, and insurance can help you protect that investment. Consider what would happen if your home was burgled, caught fire, or got in the way of a falling tree.

As far as home insurance being overly expensive, we’re happy to bust that myth. Our agents are pros at helping people save money on home insurance and get great coverage at a great rate. We can shop your rates and get you the insurance you need to protect your home. All you have to do to get started with Atlanta home insurance quotes is fill out our online form or give us a call today. Let’s crush these home insurance myths together.

Source:

https://www.thebalance.com/ignore-these-6-myths-about-homeowners-insurance-coverage-4177282

Does Atlanta home insurance cover burglary?

July 30, 2019September 13, 2018 by Kate Betts

Your Atlanta house is more than just a structure with a roof and walls. It’s your home. You know you need to protect it with the right insurance, even though it’s scary to think about what-ifs – like burglary and what would happen if your home is burglarized. The thought is terrifying. But you might have this question – does home insurance cover burglary? We’re going to answer that question and give you some quick tips to prevent a break-in at your home.

Does Atlanta insurance cover burglary or theft?

Most home insurance policies do cover theft. Your policy should include personal property coverage, and that will provide insurance for your belongings. So, if someone breaks into your home and steals some of your possessions, you could file a home insurance claim and you should be covered. You’d have to read your policy carefully to find out exactly how your insurance would handle a burglary.

Your policy will probably have a limit for coverage for your personal property. That limit could be a percentage of the dwelling coverage on your home. Anyways, it’s really important to make sure that you have enough coverage to replace all of your belongings, so you need to check that your personal property coverage limit is high enough. (And we can help you make sure that you have the home insurance you need. Get started with Atlanta home insurance quotes by filling out our quick online form.)

To get an idea of how much coverage you need for your belongings to protect yourself against burglary, you can take a home inventory, which is basically a list of all of your belongings and their value. This will come in handy if you ever need to file a home insurance claim for burglary because you’ll easily be able to tell what’s been taken. You’ll know exactly what you need to include in your claim.

What if my belongings are in my car when they’re stolen?

If you have a bunch of stuff in your car and your car gets broken into or burglarized, your home insurance should cover those belongings and replace them. Most policies will cover your personal belongings even if they’re not in the home (although there could be limitations.)

Now, if your car is stolen from your driveway, however, your home insurance probably won’t cover it. You would have to have comprehensive coverage for your vehicle, which is a type of car insurance that will repair or replace your car if it’s damaged by something other than an accident (such as fire, falling trees, animal strikes, vandalism, and yes, theft.)

How to prevent a burglary at your Atlanta home.

No one wants to see their home get broken into, and it’s important to secure your house. The following tips can help you prevent a burglary at your house:

Keep the doors and windows locked. Contrary to popular belief, a lot of burglaries occur during the day – not at night.
Consider getting timers for your indoor lights.
Make sure you have plenty of outdoor lighting.
Consider getting a security system.
Secure your valuables.
Keep your bushes and trees trimmed to eliminate and potential hiding places for burglars.
Be familiar with your neighbors.
Don’t leave boxes from expensive purchases outside on the curb.

So, that’s the scoop about home insurance and burglary. Your home insurance policy most likely covers burglary and theft. There is a section of your home insurance that covers your personal belongings, and that’s the piece that’s going to replace your belongings. So, hopefully, you can find a little peace of mind knowing that your home insurance covers burglary.

Want to save money on your home insurance? We’d be happy to help you get an Atlanta home insurance quote. Our agents are professionals at helping people get great coverage at a great rate. To get started with your quote, fill out our online quote form or give us a call today.

Does Atlanta home insurance cover my personal belongings?

October 18, 2020September 11, 2018 by Kate Betts

Your home insurance covers your personal belongings.

You purchased Atlanta home insurance to be an invisible financial safety net in case you have some sort of loss to your home. That house was a big investment, after all. But you might have this question floating in your mind: does home insurance cover personal belongings? We’re going to answer that question, but we’re also going to explain how much insurance you need for your personal belongings and how to insure your belongings.

Are personal belongings covered by Atlanta home insurance?

Yes. A typical Atlanta home insurance policy should pay to replace the contents of your home (such as your furniture, your electronics, your clothes, and so on) if they are destroyed by a covered loss. Your policy should have a certain “limit” for personal belongings coverage. Home insurance is there for you – it’s got your back. (And if you’re looking for Atlanta home insurance quotes, we can help. Just fill out our online quote form or give us a call and we can help you get the insurance you need to protect your house.)

What losses are covered?

Well, that depends on your policy, which will outline the losses that are covered. However, some examples of losses that are usually covered by home insurance are:

Burglary
Fire
Storm damage
Falling trees

Like we said, you really have to go over your policy carefully to understand exactly what is covered and what is not. There’s a lot of helpful stuff in your insurance policy. Admittedly, it might not be the most riveting read, but still – you’ve got to read your policy.

What losses aren’t covered?

Some losses are typically not covered by Atlanta home insurance. The following are excluded from most policies.

Flooding: To protect your home against a flooding disaster, you would need flood insurance. You can purchase flood insurance from the NFIP through an agent, and you would have to make sure to include coverage for personal belongings in your flood insurance policy.
Sump pump failure/Sewer backup: To be protected against losses stemming from a sewer backup or sump pump failure incident, you would have to add coverage for sewer backup to your policy.
Jewelry: It’s not that home insurance excludes jewelry and other valuables, but usually policies offer a very limited amount of coverage for them. You may need to add extra coverage for your valuables.

These are just a few home insurance exclusions to be aware of. You need to spend some quality time with your policy to find out how certain losses are handled.

How much coverage do I need for personal belongings?

The next question is how much insurance you need for your personal property.

Taking a home inventory can help you find out how much coverage you would need to replace your belongings. A home inventory is basically a list of all the items in your home and their values. The easiest way to organize it is to break it down room by room.

Having a home inventory can also come in handy if you ever have to file a home insurance claim. It’ll be a lot easier to list the items that need to be replaced because you’ll have a prepared, detailed list of your belongings. Just make sure to keep your inventory somewhere safe – maybe consider a safe deposit box or Google Drive to ensure it doesn’t get destroyed if something happens to your home.

Pro tip: Pay extra attention to jewelry and other valuables. Like we said, you may need to add coverage for these things.

How should I insure my personal belongings?

You can insure your belongings for their Actual Cash Value or their Replacement Cost Value.

Actual Cash Value (ACV): If you insure your belongings for their ACV, your insurance company will reimburse you for the value of your belongings at the time of the loss (meaning the depreciated value.)

Replacement Cost Value: Replacement cost value does not take depreciation into account and can allow you to replace your belongings at today’s prices.

The bottom line is that you might want to insure your belongings for their replacement cost value to ensure that you receive enough reimbursement to replace your belongings at today’s prices.

So, that’s the scoop about home insurance and your personal belongings. While your home insurance should have coverage for your belongings, you have to read your policy to find out which losses are covered and which aren’t. Having a loss to your home could be a huge financial blow, but that’s why home insurance is there – to be your safety net.

To get started with some Atlanta home insurance quotes, you can fill out our quote form or give us a call today. Our team can help you find great coverage at a great rate. And we’ll help you make sure that your house and all of its contents are fully covered by insurance.

8 times you need to talk to your insurance agent

September 24, 2020September 6, 2018 by Kate Betts

It's important to keep your insurance agent informed about changes to your life or home.

Your insurance agent is there to help with many things. As life goes on, changes happen and your insurance might need to be adjusted. Your coverage needs to be customized to you, and if you have a change in your life or to your home, you need to have your coverage tailored so it fits like a glove again. It’s important to keep your agent in the know so that you don’t have any coverage gaps. Here are 8 times you might want to pick up the phone or write an email to talk to your agent.

8 times that you should talk to your insurance agent.

1. When you buy a house.

Buying a new home insurance means getting home insurance, and that means calling an insurance agent. You need to make sure your home is protected from fires, burglary, falling trees, and so on by getting the right home insurance. This is why an agent can be a big help. They can help you make sure you have enough home insurance.

Keep in mind that you probably want to insure your home for its replacement cost, which is the amount it would cost to rebuild your home from the ground up if it were destroyed by a fire or another loss. The replacement cost value includes the expenses associated with building materials and the labor of the contractors. And of course, it’s also important to have enough coverage for the contents of your home.

2. When you’re renovating your home or when you’re making home improvements.

Home renovations can affect your home insurance. You could end up increasing the value of your home if you make significant changes to the house, which means you may need to increase your limits of home insurance. It’s a good idea to let your agent know about any major changes or renovations to the home and have a conversation about your insurance. It’s essential that you have enough insurance to cover the costs of rebuilding your home so you can put it back to the way it was before the loss.

Apart from renovating, home improvements that make your home stronger or safer – such as getting a security system, getting a new roof, or getting a new electrical system – can qualify you for home insurance discounts. So, if you’ve made an improvement to your home that makes it safer or stronger, you could be eligible for a home insurance discount.

3. If your teenager gets their driver’s license.

If your teen is getting their license, you need to set them up with the right car insurance. Teen car insurance can be very expensive, so you may want to add them to your policy rather than getting them their own policy. However, that’s a conversation that you can have with your agent. Talk to your agent about the fact that your teenager is about to start driving. Hopefully, they can help ease your anxiety about handing over the keys by setting you up with great teen auto insurance.

4. Getting married.

As far as car insurance goes, you could get a car insurance discount if you insure more than one car with your carrier. It might be worth checking to see what it would take to get you and your spouse onto the same car insurance policy.

5. Buying a car.

Well, if you’re buying a new car, you’re going to need the right insurance for it! It’s important to make sure you have the coverages you need to protect your new set of wheels. You don’t want to find out too late that you don’t have the coverage you thought you did for the new vehicle.

6. When you get valuable jewelry or art.

Maybe you’ve recently gotten some valuable jewelry or artwork. When expensive jewelry or art comes into your possession, you’ll need to let your agent know so you can chat about the best way to go about insuring your valuables. Oftentimes home insurance policies only give you a small amount of coverage for your values, so you may need to add coverage or even take out a separate policy for your valuables.

7. When you retire.

If you retire, you might qualify for a home insurance discount, so that could be worth a phone call to your agent.

8. If you want to bundle your home and auto insurance.

You might want to consider bundling your home and auto insurance (meaning getting them from the same carrier). That might help you save some money on your insurance because a lot of insurance companies offer discounts for bundling.

The above are a few occasions where it could be worth calling your insurance agent to tell them about your new situation. Remember, it’s so important to have the right insurance for your house, your family, and your finances. Don’t be shy – your agent’s job is to ensure that you’ve got the insurance you need.

Do you want to save money on your home insurance or auto insurance? We can help you get quotes for your coverage. We strive to be your insurance partner and advisor, so we’ll help you get the coverage you need at a great rate. Get started with home insurance quotes or auto insurance quotes with our online quote form or by calling us today.

What does Atlanta home insurance cover?

September 20, 2020August 23, 2018 by Kate Betts

Atlanta home insurance covers more than just the structure of your home.

There are a lot of perks to owning a home, but there’s also a lot of responsibility that comes along with it. (And we’re talking about more responsibility than figuring out how to decorate.) For example, you have to deal with home insurance. Your main question might be this – what does home insurance cover? We’re going to tackle that question and explain what a typical home insurance policy covers. (But of course, you really need to read your particular policy to understand how it protects your home.)

What does Atlanta home insurance cover?

1. The home.

Okay, we know you’re rolling your eyes – it’s a no-brainer that Atlanta home insurance covers the home. We mean that home insurance covers the structure of the house itself – the dwelling. Home insurance protects you financially if you’re ever struck by a covered loss, such as burglary, fire, vandalism, lightning, or hail. (Or falling trees.) It can pay for the necessary repairs resulting from covered losses. Now, it’s important to note that not all losses are covered. Flooding is usually excluded from home insurance policies, as are earthquakes. You really have to read your policy thoroughly to see what is and is not covered.

Another question you might have is how much dwelling coverage do you need for your house. A good rule of thumb is to insure your home for its replacement cost. The replacement cost of your home is the cost of rebuilding your home from the ground up as if it was completely destroyed (for example, after a fire.) That means that you’re including the costs of building materials and the labor of the contractors. It’s different than insuring your home for its market value or the value you bought it for.

2. Other structures on your property.

If you have structures like a detached garage, shed, or fence on your property, those will also most likely be covered by your home insurance. Keep in mind that you need to check on the limit of coverage these “other structures” have.

3. Personal belongings.

The contents of your home are also covered by your insurance. That means your furniture, your electronics, your clothes, and your other treasures are all protected under your insurance. The section of your insurance that covers your personal property will replace your belongings if they’re destroyed by a covered loss (i.e., fire or theft.) Your insurance should follow your belongings, so even if your possessions aren’t in your home when they’re stolen or destroyed they’ll be covered. So, if you had a whole bunch of stuff in your car and these belongings get stolen, they could be covered.

To find out how much coverage you need for your personal belongings, you can take a home inventory, which is basically just a list of all of your possessions and their value. Another perk of having a current home inventory is that it can help you when it comes to filing a home insurance claim (though we hope you won’t ever face a loss requiring a claim.) With a handy-dandy home inventory, you’ll know exactly what you need to claim. It’ll make the entire process easier.

Pro tip: Consider insuring your personal property for its replacement cost value. Replacement cost value will replace your possessions at today’s prices – it doesn’t take depreciation into account. Actual cash value coverage will only cover the value of your belongings at the time of the loss, which means the depreciated value. And that might not be enough to replace your belongings at today’s prices.

4. Loss of use coverage/Additional living expense coverage.

Let’s say that you experience a covered loss to your home and you have to move out. You have expenses that you wouldn’t normally have to maintain your family’s standard of living. Your home insurance can help you cover the cost of those extra expenses, such as hotel bills and restaurant bills. Your home insurance may have a certain limit for these extra expenses, so be sure to check on that.

5. Liability insurance.

Your liability insurance can help you if you or your family ever cause someone either bodily injury or property damage and you have a legal responsibility to cover their expenses. It can also help you if they decide to sue. To illustrate, liability insurance could help you if a guest trips over an uneven section of your driveway, gets hurt, and decides to sue you.

You can also read your home insurance policy to find out about medical payments coverage. The person who was injured can submit their medical bills straight to your insurance company.

Pro tip: You can add liability coverage to protect your assets by purchasing a personal umbrella insurance policy.

Atlanta home insurance covers a lot more than just your house. Other structures, your belongings, your liability, and additional living expenses are also covered. We can’t say enough how important it is to read your policy carefully so you understand exactly what cool stuff it does and what is and isn’t covered. Arm yourself with knowledge.

Are you wanting to save money on your Atlanta home insurance? We would be happy to help you shop your rates so you can compare coverage options and pricing so you can get great coverage at a great rate. We can help you get the Atlanta home insurance you need to protect your home. Ready to get started with your home insurance quotes? You can fill out our quote form or give us a call today and we’ll be at your service.

Don’t make these 8 Atlanta home insurance mistakes

August 31, 2020August 7, 2018 by Kate Betts

You never know when a home insurance tip is going to come in handy.

Getting home insurance can seem extremely difficult. It can be hard to know how much insurance to get, what coverages you need, and what’s a good rate. To help you on your home insurance mission, we’ve got 8 common home insurance mistakes for you to avoid as you set your coverage. We’ve also included a home insurance tip for each one.

Avoid these home insurance mistakes.

1. Not getting enough home insurance.

Home Insurance Tip #1: Ideally, you should have enough home insurance to do the following three things:

Rebuild your house from the ground up if it’s damaged.
Replace all of your belongings.
Cover your liability.

You need to make sure that you have enough home insurance to rebuild your home completely if it’s destroyed by a fire or another loss, including the costs of building materials and the labor of the contractors. This is your home’s replacement cost.

It’s also important to take a home inventory so that you know how much coverage you need for your personal belongings – and that way you’ll know exactly what to claim if you have a loss to your home.

Basically, the point is to make sure you’re not underinsured. You need enough coverage to protect you from financial loss if your home is damaged or destroyed.

2. Setting a deductible that’s too low or too high.

Home Insurance Tip #2: Set a deductible that fits your finances.

Your deductible is the amount you agree to pay if you have a claim. You’ve got your portion of a claim and the insurance company takes care of the rest. So, if you have a claim that’s $5,000 and your deductible is $1,000, you’ll pay $1,000 and the insurance company will pay $4,000.

Your deductible is important because it relates to your home insurance rates. If you set a deductible that’s higher, you could see lower premium because you’re less likely to file a claim. But you don’t want to set your deductible so high that it would be burdensome to pay if you ever have a claim. It’s a bit of a balancing act. You have to evaluate your finances and decide how much you can comfortably afford to pay in the event of a claim. If you find you could raise your deductible, you might see lower rates.

3. Not asking about home insurance discounts.

Home Insurance Tip #3: Be sure to ask about discounts.

Many home insurance companies offer discounts for home insurance. Be sure to ask your agent what discounts they offer and see if you qualify for them. Some common home insurance discounts are…

Having a monitored burglar alarm or security system.
New roof.
Bundling your home and auto insurance.
Being claims-free for a certain number of years.
Home improvements (new wiring, plumbing, AC system, roof.)

4. Not adding coverage to account for exclusions.

Home Insurance Tip #4: Make sure to cover any gaps in your home insurance policy.

Unfortunately, home insurance doesn’t cover everything. Certain losses aren’t covered (and these losses are called exclusions.) Some common – but surprising – home insurance exclusions are…

Flooding
Sewer backup
Sinkholes
Jewelry (Most policies only offer limited coverage for valuables.)

You have to make sure to cover any gaps in your home insurance. If you want flooding to be covered, you can get flood insurance from the National Flood Insurance Program (NFIP) through an agent. If you want sewer backup to be covered, you have to add that coverage to your policy. If you want all of your valuables to be covered, you have to add extra coverage for your jewelry and other treasures.

Be sure to discuss these things with your agent and ask questions about what is or isn’t covered.

5. Choosing coverage based on price alone.

Home Insurance Tip #5: Keep in mind that the lowest price might not be the best home insurance policy.

Yes, it might be tempting to choose the cheapest coverage available, but cheapest doesn’t mean best. It’s a good idea to really explore your options and compare coverages. You also have to make sure you’re looking at an apples-to-apples comparison of home insurance coverage when you consider pricing. Then consider the insurance company itself. Do they have a good reputation? Will they truly be there for you if you have a loss? You might find that the best option costs a little more than the cheapest option, but the extra expense could be well worth it.

6. Not telling your agent about home renovations.

Home Insurance Tip #6: Keep in touch with your agent and let them know about planned home insurance renovations.

If you do renovations to your home, you could be adding significantly to its value. That means that you might need to add home insurance to make sure that you still have enough coverage for your home.

7. Not reading through the home insurance policy thoroughly.

Home Insurance Tip #7: Take the time to read through your policy.

The only way to really understand what your home insurance policy does and does not cover is to read through it carefully. It’s important to read through the policy, tedious as it might seem, so that you’re aware of how your home insurance will handle various situations. If you have any questions about all the “insurance-speak” in your policy, don’t hesitate to give your agent a call to clarify. It’s better to be equipped with knowledge when it comes to handling your home insurance.

8. Not shopping for home insurance.

Home Insurance Tip #8: Get multiple quotes for Atlanta home insurance.

When you get home insurance in Atlanta, its’ a good idea to shop around for multiple quotes. That way you’ll be able to compare coverage options and pricing. By shopping, you give yourself the change to save money on home insurance. You might find comparable coverage from a comparable company – but at a lower rate than the other guy’s offering. Though it might be tempting just to go with the first quote you get, a little patience can go a long way.

Speaking of shopping for home insurance, our agents can help you get multiple quotes for Atlanta homeowner’s insurance. We’ll shop your rates and go over your options for coverage, and we’ll make sure that we understand your unique situation so you get the coverage that’s right for you. Get started with your Atlanta home insurance by filling out our quote form or giving us a call today!

Will filing a home insurance claim make my rates go up?

August 31, 2020August 2, 2018 by Kate Betts

Filing a home insurance claim may raise your home insurance rates.

You might have heard that filing a home insurance claim will make your insurance rates go up. And maybe it doesn’t seem quite fair – the whole reason that you have insurance is to use it when you need it. And the thing is that while your Atlanta home insurance will protect you from financial loss, it’s important to understand the effect that certain claims could have on your Georgia home insurance rates. We’ll explain about how claims can affect your home insurance rates.

Will filing a claim make my home insurance rates go up?

The short answer is … it could, yes. A home insurance claim could raise premiums.

What kind of home insurance claims will make your rates go up?

Liability.

Usually, claims that are related to liability could cause your rates to rise. For example, if your dog bites someone, that would be a liability-related claim. (Dog bite claims can be very expensive, which is why some insurers have a “dangerous dog list” of breeds that they won’t insure.) This kind of claim can cause your premiums to increase.

Burglary and vandalism.

Burglary and vandalism claims could also cause your premiums to go up because these things can happen again in the same area.

What’s a CLUE report and why does it matter to my rates?

But wait – how do insurance companies know what claims you’ve made and when?

Your CLUE report comes from the Comprehensive Loss Underwriting Exchange, which is a database of home insurance-related information that insurance companies can access. A CLUE report is essentially a record of all the claims you’ve made – it gives your name, the address where the loss occurred, what the loss is, and the amount the insurance company paid out. Your CLUE report goes back about seven years, and if your insurance company looks at your report and decides you’ve had too many claims, that could be trouble.

There’s no hiding the fact that you’ve made claims. It’s right there in the CLUE.

How can you keep your home insurance rates from going up?

Here are some tips to protect your home insurance rates.

1. Try not to file minor claims.

Try to reserve your home insurance for major catastrophes that you can’t cover on your own. If there’s minor damage to your home from a storm or another loss, you might want to consider taking care of it on your own and paying out of pocket rather than filing a claim. Yes, your insurance is there to help you when you need it. But you might not want to use it for every minor thing – if you do, you risk making your rates go up.

2. Consider your deductible.

Your deductible is the amount of money that you agree to pay if you have a claim. You pay your deductible and your insurance covers the rest of the claim. You probably don’t want to file a claim that’s close in value to your deductible because you’ll still have to pay your deductible – insurance would only cover a small portion of the claim anyway, and then you’ve got that home insurance claim on your record.

For example:

Let’s say your deductible is $750. You have a home insurance claim for $1,100. Yes, you could file the claim and insurance would pay the $350 that’s left after you pay the deductible. But is it really worth filing that claim when you already have to pay $750 anyway? At that point, it might just be more prudent to take care of the entire claim on your own.

3. Check your CLUE report.

Your CLUE report, as we mentioned earlier, gives a history of your claims – and possibly even claims inquiries. If you’re concerned that your claims history isn’t looking too great, get a copy of your CLUE report and check for any mistakes that could be hurting your rates. If you find any, politely ask for them to be corrected.

4. Really think about filing that second claim.

You might want to give some real thought to filing that second claim if you’re worried that your coverage could be nonrenewed or your rates could go up. Remember, filing too many claims could lead to that outcome. So, take out your calculator and think about your finances and if it’s worth filing a claim based on your deductible.

If you face a loss and there’s damage to your home, you’ll have to decide whether or not to file a home insurance claim. So, it’s important to really consider when filing a home insurance claim. However, that’s not to say that you shouldn’t use your insurance when you need it – that’s what it’s there for, after all.

Do you want to save money on home insurance in Atlanta? We can help. Our agents are professionals at helping homeowners shop for their rates and get the coverage that they need at a great price. All you have to do to get Atlanta insurance quotes is fill out our online form or give us a call today.

Source:

https://www.houselogic.com/finances-taxes/home-insurance/can-one-home-insurance-claim-bump-your-annual-premium/

http://money.cnn.com/2014/10/19/real_estate/homeowners-insurance-claims/index.html

https://www.houselogic.com/finances-taxes/home-insurance/your-clue-insurance-report-matters/

Will home insurance cover a new roof?

August 28, 2019July 19, 2018 by Kate Betts

Home insurance may cover a new roof if your was damaged by a sudden or accidental loss.

There’s a problem: the floor of your Atlanta home has a huge puddle on it. Just as you’re about to yell at the kids for making a mess – drip. A drop falls right on your forehead. It’s the middle of one of the summer storms that Georgia is notorious for, and the roof is leaking. There is water inside the house and you’ve got one question (okay, maybe two.) Does Georgia home insurance cover a new roof? And how can you tell if you have a roof leak? A leak isn’t the only explanation for the water stains on your ceiling. So, here we go – let’s talk about home insurance, leaking roofs, and when a roof might be covered.

Does home insurance cover my roof?

Well…It really depends on your policy. Home insurance may cover the roof if yours is damaged by an act of nature, like a storm. It’s very important for you to read through your policy or reach out to your agent to find out how your particular insurance company handles roof-related claims.

What we can tell you is that a loss caused by something sudden and accidental may be covered, meaning that your insurance company will pay to repair or replace the roof. So, if you have an act of nature like a huge storm and your roof is damaged, you may be covered because that’s a sudden, accidental loss that you couldn’t prevent (unless you have superhero-like powers over the weather.)

(Now, there’s one thing to note: you really have to find out how your insurance company will handle the roof repairs or replacement.)

However:

If your roof has a leak because it has not been properly maintained…that’s a different story. Your insurance company may not pay to repair the roof. The purpose of insurance is to protect the homeowner against unforeseeable losses that are out of their control, and a lack of maintenance and upkeep doesn’t fit the bill.

So. Be sure to take care of your roof and maintain it properly. Have it inspected regularly by a trustworthy roofing professional. Your roof affects your home insurance, after all.

How to tell if your roof is leaking.

A leaky roof may not be the only possible culprit for water winding up inside your home. However, there are several signs that your roof is leaking.

1. There’s algae or mold on your roof.

Dark splotches on your roof could mean algae or mold. It could be problematic or it might not. Just because there’s mold doesn’t mean the lifespan of your shingles is shortened, but it could be a sign that something’s wrong.

2. You’re seeing granules in the downspout or gutter.

You know those little specks on your shingles? Those are granules. If you start seeing a significant amount of them in your gutters or downspouts, it might be time for a new roof. Those granules have a very important job. They prevent your shingles from getting roasted by the sun’s rays – your roof is basking in the sun all day, and Georgia certainly gets plenty of strong sunshine. If the granules have started coming off, it’s possible that the shingles could become (or already are) very fragile.

3. Some shingles are missing.

Well, if you’re missing some shingles on your roof and you’re getting water in the house…yeah, you’re probably looking at a roof leak.

4. You have water spots or stains on the ceiling.

If you’ve noticed dark or discolored spots that are ominously growing larger on your ceilings, you could have a leak somewhere. Likewise if there are drip marks streaking down the wall or if your walls are mysteriously bubbling. Do the spots darken or get worse after a hard rain? That could mean that you’ve got a leaking roof on your hands.

5. There are shingles that are curled at the edges or shingles that have cracked.

Water can slip underneath your shingles if there are gaps caused by the edges of the shingles curling in. And that water could cause your roof to leak. Cracked shingles could also be a sign of trouble.

6. You notice water spots on exterior walls.

If there are water spots on exterior walls of the house – and if they get worse after a hard rain – you could have a roof problem.

Anyways, that’s what you should know about home insurance and leaks. If the leak is caused by damage that’s sudden or accidental, you’re probably covered for a new roof. If the leak is caused by a lack of maintenance, you’re probably not covered. Be sure to have a trustworthy, professional roofing company in mind to do roof inspections. Read through your policy very carefully to see how your roof is covered.

Do you want to save money on your Atlanta home insurance? We can help with that. Our team of insurance professionals can help you shop your rates so you can compare coverages and pricing. Get started with your quotes by filling out our online form or giving us a call today.

Source:

https://www.investopedia.com/ask/answers/111815/does-homeowners-insurance-cover-roof-replacement.asp