Amagansett NY Homeowners Insurance

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Common Homeowners Insurance Discounts

Coverage A: Dwelling

Dwelling coverage covers the cost of rebuilding the house itself using like materials. This coverage also includes any permanent attachments, including central air conditioning equipment, heating and plumbing equipment, and similar attached items.

Coverage B: Other Structures

Fences, pools, gazebos, sheds, and other structures that are not attached to your home are covered by Coverage B, other structures coverage. The value of this coverage is usually set to 10% of the dwelling coverage amount but can be changed to a higher coverage amount if needed.

Coverage C: Personal Property

Personal belongings are described as personal property on your home insurance policy. This coverage would include common household items like televisions, furniture, clothing, and other common belongings. Personal property coverage is usually assigned a value of at least 50% of the dwelling coverage on a homeowners insurance policy, but this coverage amount can often be adjusted.

Many homeowners insurance policies cover personal property on an actual cash value basis. What this means is that if your personal property is lost, damaged, or destroyed in a covered claim, your insurer will pay a depreciated value based on wear and tear due to age. Some insurers provide an option for personal property coverage at replacement cost value, which covers your personal property for the full cost of replacement, typically for a slightly higher premium.

Certain types of items, such as jewelry, firearms, furs, and similar items have limited coverage on a homeowners insurance policy. These items can be added to your policy as an endorsement to insure them to their full value.

Coverage D: Additional Living Expenses

If a covered claim forces you out of your home temporarily while your home is being repaired, additional living expenses are covered by Coverage D. This can include the cost of hotels or of eating out and this coverage is designed to cover the difference between your normal living expenses and the higher temporary expenses you experience due to a claim. Typically, Coverage D is equal to 20% of the coverage amount for Coverage A, dwelling coverage.

Coverage E: Personal Liability

Coverage E, commonly known as personal liability coverage, protects you against lawsuits for bodily injury to others or damage to the property of others due to negligence. Coverage amounts typically start at $100,000, although most policies provide $300,000 of coverage or higher. Personal liability coverage on your home insurance also pays for your legal defense, which can be a sizable expense in itself.

Common risks include dog bites and slip and fall accidents, but accidental damage to the property of others is also covered.

Households with pools or children who have friends who visit your home may wish to consider a higher coverage amount. This coverage is available for all family members in the household.

Coverage F: Medical Payments

Your home insurance policy also provides coverage for small injuries to others that don’t involve a lawsuit. Accidents can happen, but many accidents are minor, only requiring basic medical attention.

A homeowners insurance policy can be either an all-risk policy or a named peril policy, with the difference between the two being which risks to your home are covered by the policy. As its name suggests, an all-risk policy is more inclusive, providing coverage for almost all risks to your home except for specifically excluded risks.

A named peril homeowners insurance policy only provides coverage for the home that is specifically named as coverage items on your policy. Named peril policies also have specific exclusions to coverage while also excluding any risks that are not specifically named as covered perils.

Covered personal property perils may differ from those covered for the dwelling, depending on the type of policy. The five types of policies for single-family homes are HO-1, HO-2, HO-3, HO-3 with HO-15, and HO-8.

HO-1 Basic Homeowner

A basic homeowners insurance policy, sometimes called an HO-1 policy, provides coverage for fire and lightning, as well as wind and hail damage — but being a basic insurance policy, omits coverage for several other risks to homes. Due to consumer demand for broader coverage, this type of policy is not commonly available from insurers.

HO-2 Broad Basic Homeowner

An HO-2 homeowners insurance policy expands upon the coverage provided by an HO-1 policy by adding some additional perils to the coverage for the dwelling: falling objects, roof collapse due to the weight of ice or snow, building collapse, water damage due to bursting pipes or sudden leaks, frozen pipes, and damage from electrical surges.

HO-3 Special Extended Homeowner

Currently the most popular type of homeowners insurance policy, an HO-3 policy provides all-risk coverage for your dwelling while providing coverage for 18 named perils for your personal property. All of the coverages provided by an HO-2 policy apply to personal property on an HO-3 policy. Covered perils for the dwelling itself are limited only by named exclusions.

HO-3 with HO-15 Comprehensive

This type of policy does not limit coverage for personal property to named perils, instead of covering both your home and personal belongings for all perils except for those specifically excluded from your policy. Depending on the insurer, a similar type of comprehensive coverage may also be available through an HO-5 policy.

HO-8 Modified Homeowner

Coverage for historic homes is often provided through an HO-8 homeowners insurance policy, which provides limited coverage similar to an HO-1 policy but is designed to cover homes that may cost significantly more to rebuild than their market value.

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Information about Amagansett NY

Amagansett is a small town in Suffolk County on Eastern Long Island that is filled with a lot of charm. The town is settled between East Hampton and Montauk yet, unlike its neighboring hamlets the atmosphere is far more pragmatic; promoting a much greater day to day environment for the community, even with its sporadic celebrity sightings. Even actors/actress such as Sarah Jessica Parker and Matthew Broderick have come to enjoy the beauty of this small town.

When traveling from Manhattan or Brooklyn on the LIRR (Long Island Rail Road) to Amagansett the station is only a few minutes away from both the Napeague Bay and the Atlantic Ocean. Meanwhile, all along Montauk Highway you can find small mom and pop shops, diners, and cafes like La Fondita, Jack’s Stir Brew Coffee, Kenbali Bebas and many more, all highlighting the town’s historic and eloquent charisma.

Amagansett Public School system is small yet personal with roughly 5 teachers it averages a little over 100 students per school year. Even though the school is small studies show that the students in the school are testing far above New York State average and performing above their grade levels. The ability to give kids a greater one on one school atmosphere makes the community a desirable place for homeowners look to move to Eastern Long Island.