September 22, 2018

Homeowner's FAQ's


This information is provided to help answer some of the most frequently asked questions about homeowners insurance.

We have separated the questions into categories:

  • The Basics
  • Claims
  • Coverage


PLEASE NOTE
... these are general responses and coverage can vary depending on your insurance company, the type of homeowners policy you have and the state where you live. You should check with your insurance agent or your state insurance department to verify this information. You can find links to your state department of insurance by clicking this link:

Your State Department of Insurance

The Basics

What is Homeowners Insurance?

Why buy home insurance?

How much home insurance do I need?

How much does home insurance cost?

What affects home insurance prices?

What information do I need to provide to my insurance agent?

If I'm escrowing my home insurance, how do I cancel mid-term?

When can an insurance company cancel my homeowners coverage during the policy term?

Why should I complete a home inventory?

How do I complete a home inventory?

Why is the replacement cost so high? I didn't pay that much to buy it.

How much would it cost to rebuild my home at today's prices?

Can you provide some tips for estimating the value of my home?

What is an umbrella liability policy?

Does my homeowners policy cover flood damage?

What do you need to buy a standard flood policy?

What parts make up a homeowners insurance policy?

What is credit scoring?

How is credit scoring used?

What affects a credit score?

How can I control my credit history?


Claims

How Long Will My Claim Take?

Will my premium increase if I file a claim?

Will my policy be cancelled if I file a claim?

My house was completely destroyed by fire. I'm trying to collect on my personal property that I had in the house, but the insurance company is telling me I need an inventory. Can they do that?

Our sump pump failed and the insurance company is denying our claim because the water backed up through our sewers. Can they do this?

All my CDs were recently stolen from my vehicle. My insurance company advised there is no coverage for these items in either my auto insurance or my homeowner’s insurance policy. Is this true?

My boat was stolen and now my insurance company will not pay the claim on my homeowner’s policy. Can they deny my claim?

During a storm, a tree from my neighbor’s yard fell and destroyed my fence. Does my homeowner’s policy pay for the damage or does my neighbor’s policy?

Recent rainstorms have flooded and damaged my basement. Is there any coverage under my homeowner’s policy?

The food in my freezer went bad because I lost power in my home. Does my homeowners policy provide coverage for this?

My home was damaged during a burglary. Is this damage covered?

My damaged home is not safe. Will my insurance cover the cost for temporary living arrangements?

My tree fell on my house. Does my policy cover the damages?


Coverage

I have specifically insured antique items listed on my homeowner’s policy. If I have a total loss, would the insurance company pay me the insured value?

Do I need separate coverage for jewelry?

Do I need extra insurance coverage if I am renovating my home?

I've purchased an expensive bicycle. Will my homeowner's or renter's insurance cover it?

I planted several expensive shrubs and trees in my yard. Are these covered under my homeowner's insurance?

I want to rent my home. Are there insurance issues to consider?

I'm building a new home. Do I need to insure it while it's under construction?

My child is heading off to college this fall. What property insurance issues does this raise?

My friend and I share an apartment. Will her renter's policy cover my possessions?

Will my homeowner's policy cover me for losses that occur outside of my home?

Does my policy pay for seepage, dry rot, and vermin?

What does additional living expense or loss of use cover?