Do Home Insurance companies offer discounts?
Home Insurance Companies can offer discounts if you have hurricane shutters, dead bolt locks, alarm systems, fire extinguishers, sprinkler systems, but also smoke detectors and higher deductibles.
Do Home Insurance policies include deductibles and if so, under what circumstances do they apply?
Policies come with a deductible that can be set lower or higher. Policy deductibles range from $500-$2500 with $5000 and higher available for large homes or high value properties. Policies written for homes susceptible to hurricanes will also have a separate hurricane or windstorm deductible.
Do Home Insurance rates vary in different locations or the proximity of a property to a fire department affect the premium in any way?
Yes, the rates are influenced by the use of the building type and local fire protection.
Are there specific situations where mold is covered in my Home Insurance, and are there any limits for the damages it causes?
If the mold damage is due to a covered event, then it is covered. The majority of policies come with a certain limit for mold damage payments towards remediation services. Your policy needs to be properly evaluated for the specific language.
What exactly is covered with Home Insurance?
The contents of the building and the building itself are covered for the included perils. If the policy is an all risk type, then the building is covered for everything, with the exception of listed exclusions.
What can a Home Insurance policy exclude?
There are specific types of exclusions, such as acts of war, earth movement, wear and tear, flood and mechanical breakdown.
Is Homeowners Insurance coverage limited for specific types of items, such as computers?
Specific items, including securities, money, guns, jewelry, silverware, computers and others listed have monetary limitations. For these items, it may be possible to purchase a rider.
What extended, extra or optional Home Insurance coverage can I buy?
You can buy an umbrella policy or if available, a rider. You can also get flood coverage through the NFIP in a wide range of communities, but also coverage for business pursuits on the premises, earthquake coverage, lower deductibles and greater levels of liability coverage. Just make sure to ask any questions you may have regarding the type of coverage you require.
What is an Umbrella Policy?
Umbrella policies offer higher limits for liability coverage for your watercraft, auto or house. It is possible that it also provides coverage for events that aren’t covered by a standard homeowner’s policy.
Coastal Insurance Solutions has been serving NY homeowners for over 15 years. For any other questions regarding Homeowners Insurance, please feel free to call us at 631-782-3175 or Click Here to request a Free Quote.