Suffolk County Homeowners Insurance

Suffolk County Homeowners Insurance 2018-08-28T09:58:28+00:00

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Common Homeowners Insurance Discounts

  • New Homes may enjoy discounts up to 14%.

  • Security Systems such as deadbolt locks, simple alarm systems, and smoke detectors may reap discounts from 1-5%. Sophisticated monitoring services and integrated sprinkler systems may reduce your premiums as much as 20%.

  • Combined Policies: If you combine your automobile and homeowner policy with the same carrier you may obtain discounts from 5% to 15%.

  • Carrier Longevity: If you maintain your coverage with the same carrier for a number of years they will usually reward you with a discount.

  • Retired Homeowner: On average stays home longer and may be rewarded with a 5% discount.

  • Non-smoker: Some carriers reward non-smokers a 5% discount.

  • New Homes may enjoy discounts up to 14%.

  • Security Systems such as deadbolt locks, simple alarm systems, and smoke detectors may reap discounts from 1-5%. Sophisticated monitoring services and integrated sprinkler systems may reduce your premiums as much as 20%.

  • Combined Policies: If you combine your automobile and homeowner policy with the same carrier you may obtain discounts from 5% to 15%.

  • Carrier Longevity: If you maintain your coverage with the same carrier for a number of years they will usually reward you with a discount.

  • Retired Homeowner: On average stays home longer and may be rewarded with a 5% discount.

  • Non-smoker: Some carriers reward non-smokers a 5% discount.

What is Insured?

Provides protection for the dwelling on an all risks basis up to the policy limits. The policy limit is set by the policyowner at the time the insurance is purchased. You can choose to insure your home and belongings for either replacement cost or actual cash value. The home should be insured for replacement cost. Replacement cost is the amount it would take to replace or rebuild your home or repair damages with materials of similar kind and quality, without deducting for depreciation. Depreciation is the decrease in home or property value from the time it was first built or purchased because of age or wear. Actual cash value is the amount it would take to repair or replace damage to your home after depreciation. Most insurers require homeowners to insure their homes for at least 80 percent of the replacement cost. If you insure for less than 80 percent of the replacement cost of your home, any loss payment from your insurance company will be subject to a coinsurance penalty. You may wish to insure at 100 percent of replacement cost so you will have sufficient coverage in the event of total loss.

Verified Google Reviews

I have used Allstate for my homeowners insurance for over 12 years. After buying my second home in mount sinai, my real estate broker recommended Coastal Insurance Solutions. I gave them a call and I was able to save 30% from my current home insurance package. Great rates! Staff is super helpful!

David Montalvo

I have been using this company for my auto insurance for years now with no complaints and only positive things to say. My rep Daniel Gorman is as professional as they come. He has always gone the extra mile to save me money on my insurance, and if needed will return my calls and emails on the weekends if I have any questions. I highly recommend this company, 5 stars across the board!

Tom Sullivan

I was researching options for lower homeowners insurance and looking for a local agent. Daniel Gorman was extremely responsive to my request, without being pushy. He presented me with several viable options and suggested a conversation take place with my current agent to get a comparison. End result was more appropriate coverage for my needs at reduced costs. I highly recommend him to anyone looking for new insurance options.

Taina Unverzagt

We have dealt with the agent, Eric Holle, who answered all our questions and walked us through the application process for a homeowners insurance policy.  He did this with patience and personal attention.  He was  most accommodating and took care of our insurance needs in a very timely manner.  Thank you Coastal Homeowners Insurance Company.

Josephine

Agent goes above and beyond to accommodate client’s budget and needs. Knowledgeable, courteous and professional; responds to queries in a timely manner. My agent, Dan Gorman, able to get me a better quote on a home insurance, great saving

Michele

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Homeowners Insurance Basic Coverages

Coverage A: Dwelling

Homeowners insurance policies provide coverage for several parts of your home, with the largest coverage for physical structures being Coverage A, which covers your house itself. Any permanent attachments to your home are also included in Coverage A, including decks, additions, central air conditioners, and similar items. When you bind your homeowners insurance policy, your agent will work with you to determine a rebuild cost for your home based on your home’s construction, materials, and features. Choosing a coverage limit equal to the rebuild cost of your home helps to keep you fully insured.

Coverage B: Other Structures

Many homes have external structures on the property, such as sheds, fences, or storage buildings. These other structures are covered by your homeowners insurance policy under Coverage B, which usually has a coverage limit equal to 10% of the dwelling coverage for your home.

Coverage C: Personal Property

Your personal belongings, including clothing, furniture, and many household electronics, are covered under Coverage C, personal property coverage. Most homeowners insurance policies insure personal property on an actual cash value basis. Many of the things we own depreciate in value based on wear and tear due to age. The depreciated value is the actual cash value. A number of homeowners insurance policies offer an optional coverage that can protect much of your personal property for its full cost of replacement.

Certain types of particularly valuable items have limited coverage on a standard homeowners insurance policy. Musical instruments, jewelry, silverware, computers, and similar items have a per-item coverage limit as well as coverage limit per category. To insure these items to their full replacement cost, you can add them to your policy as scheduled items.

In many cases, personal property coverage protects your personal belongings anywhere in the world, subject your coverage limits.

Coverage D: Additional Living Expenses

Storms, falling tree limbs, fires, and other covered claims can sometimes cause extensive damage to your home that makes your home temporarily uninhabitable. Coverage D, additional living expenses, helps to cover the cost of hotels or eating out when you are temporarily displaced from your home due to a covered claim.

Coverage E: Personal Liability

You and the family members in your household are covered for personal liability claims and lawsuits due to accidental bodily injury to others or unintentional damage to the property of others. Dog bites are a common example of a bodily injury liability but are only one exposure homeowners have to personal liability lawsuits. Injuries are common and sometimes expensive. You can choose the coverage amount for your personal liability, so discuss this coverage limit with your agent.

Coverage F: Medical Payments

Many smaller or less severe injuries and don’t involve lawsuits but may require minor medical attention. Coverage F, medical payments to others, can help pay the smaller medical costs for non-family members. This coverage applies regardless of who is at fault.

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All Risk vs. Named Peril

Homeowners insurance policies can cover your home and personal property in one of two ways. Your home can be covered for all risks or for named perils only. A peril is simply another name for a risk that can damage your home or personal belongings.

Sometimes called open peril coverage, an all-risk homeowners insurance policy covers your home or personal property for all risks except for those that are specifically excluded from your homeowner’s insurance policy.

A named peril policy, on the other hand, provides coverage for only the perils listed on the policy which typically range between 11 to 18 specifically named risks. Losses caused by risks that are not specifically named or which are specifically excluded are not covered, making a named peril policy less comprehensive than an all-risk policy.

The most common types of policies for single-family homes include HO-1, HO-2, HO-3, HO-3 with an HO-15 endorsement for personal property, and HO-8 homeowners insurance policies.

HO-1 Basic Homeowner

Designed to meet the needs of homeowners with lesser insurance needs or to meet a budget, on HO-1 homeowners insurance policy provides basic coverage for some of the larger risks to your home, including a lightning, fire, theft, and damage from wind or hail. Damage to your home caused by burst pipes or falling objects, both of which are common causes for damage to homes, are not covered by an HO-1 basic homeowners insurance policy.

HO-2 Broad Basic Homeowner

An HO-2 homeowners insurance policy provides broad coverage, expanding upon the limited coverage of an HO-1 homeowners insurance policy by adding 7 additional covered perils. These added covered risks include water damage due to burst pipes or overflows, as well as providing coverage for falling objects, such as tree limbs.

HO-3 Special Extended Homeowner

While an HO-1 and HO-2 homeowners insurance policy limit coverage to only those named perils listed in the policy, an HO-3 homeowners insurance policy provides coverage for all risks, with the exception of the named exclusions listed in your homeowner’s insurance policy. However, this expanded coverage only applies to the dwelling. Coverage for personal property is limited to the named perils that are found in an HO-2 homeowners insurance policy, meaning there may be cases where a risk might be covered for dwelling but not for personal property. Due to its combination of affordable premiums and expanded coverage, particularly for the dwelling, an HO-3 homeowners insurance policy is the most popular type of policy.

HO-3 with HO-15 Endorsement

To address the potential gap in coverage found on an HO-3 homeowners insurance policy, an HO-15 endorsement can be added to the HO-3 policy that provides coverage for all risks for both the dwelling and your personal property. Not all insurers offer this option, and some insurers instead provide an HO-5 homeowners insurance policy, which brings many of the same benefits by providing all risk coverage for both your home and your belongings.

HO-8 Modified Homeowner

Some older homes or historic homes may not be able to meet the update requirements of the more popular HO-3 homeowners’ insurance policy, which is when an HO-3 homeowners insurance policy may be used instead. Coverage for an HO-8 homeowners insurance policy is limited to a core set of named perils, providing basic coverage similar to an HO-1 homeowners insurance policy. Coverage limits for an HO-8 homeowners insurance policy are typically handled differently as well, often following the market value as opposed to the rebuild value for the home.

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Summary
Home Insurance
User Rating
5 based on 3 votes
Service Type
Home Insurance
Provider Name
Coastal Insurance Solutions,
333 Route 25A Suite 150,Rocky Point,Long Island, New York-11778,
Telephone No.631-782-3175
Area
Suffolk County
Description
Provides protection for the dwelling on an all risks basis up to the policy limits. The policy limit is set by the policy owner at the time the insurance is purchased. You can choose to insure your home and belongings for either replacement cost or actual cash value. The home should be insured for replacement cost.