On average, the annual cost of a homeowners insurance policy in 2020 is $1,445, but in reality, the average cost between different regions, states, and individual households can range greatly. A number of factors come into play when an insurer is determining your home insurance quote, including: Home age Condition of the home Deductible Replacement … Read more
If you live in a condominium or apartment, you will need to consider if you want home insurance. The options available for your situation, condo insurance, and renters insurance, respectively, have differences compared to standard homeowners insurance policies that you need to know. What Insurance Do You Need if You Own a Condo? If you … Read more
In the world of insurance, there always seems to be a catch or clause hidden within the context of any given policy. The water exclusion clause is no exception. Water damage is a contentious issue in most homeowners insurance policies. Especially if you live in an area that frequently receives heavy rains, flooding, or water-related … Read more
No matter what type of limits of liability are shown on your insurance policy’s declaration page, every homeowner will also contain a loss-settlement provision. This provision outlines how a claim will be paid subject to the various conditions of the policy itself. Generally, loss settlement applies to the replacement cost payment for both the dwelling … Read more
When you need to be safeguarded from a loss you cannot cover on your own, personal lines insurance comes into play. While you may not hear of personal lines insurance every day, odds are, you’re already a policyholder of many insurance types that fall under the umbrella of personal lines insurance. Personal lines insurance is … Read more
A homeowners policy is only as good as the amount the home is insured for. An underinsured home is one that won’t be fully recovered in the event of a loss. This is why most insurance policies contain what is known as a coinsurance clause. Each coinsurance clause requires policyholders to purchase a certain amount … Read more
From the outside, condos and townhomes can be difficult to discern. Most share a similar facade and even boast many of the same interior features. There seems to be little difference between the two dwellings, yet when insurance involved, condos and townhomes couldn’t be more different. When looking into insurance for townhomes and condos, you’ll … Read more
When you hear the term “total replacement cost” when referring to your home insurance, you might naturally assume that it includes whatever it costs to repair or replace your home up to code. Obviously, you want your home to be as safe and securely rebuilt in the event of damage, so why would you be … Read more
If you have a student getting ready to head to college, it can be stressful thinking about how they and their belongings won’t be under roof (and your home insurance) anymore. Fortunately, many college students are still eligible for insurance coverage under the parents’ policies, and there are other accessible options you can choose to … Read more
Your homeowners insurance can cover more than just your house itself and includes personal property coverage, which provides financial protection in case of damage to your personal belongings. But, how does that coverage apply to expensive technology like a laptop you might need to use every day? Your laptop is very likely to be covered … Read more
