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Homeowners Insurance

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Homeowners Insurance - PowerPoint PPT Presentation

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Homeowners Insurance . A binding, legal contract between the policyholder and the insurance company to protect their home and belongings if they are damaged, destroyed or stolen. . House. Apartment or Condo. Mobile Home.

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A binding, legal contract between the policyholder and the insurance company to protecttheir homeand belongings if they are damaged, destroyed or stolen.


Protection is provided against losses caused by fire, waterdamage, storm, theft, and other perils

who what are protected
Who & what are protected?
  • Anyone named in the policy: spouse, children, residents or guests
  • It can Protect detached structures too: garages, sheds, pools
renters insurance
Renters Insurance
  • protects individuals who live in a house, mobile home, condominium, or apartment that is owned by another person
  • Protects against:
      • Theft
      • Loss of personal property
      • Loss of use
renters insurance1
Renters Insurance
  • An average two bedroom apartment can easily contain personal property that would cost more than $20,000 to replace
  • How much does your room cost?
renters insurance2
Renters Insurance
  • landlord or association may have insurance, but it only protects their building
  • Your belongings are not covered under their policy
actual cash value acv
Actual Cash Value (ACV)
  • ACV coverage only pays for what the property was worth at the time of loss, its current value.
replacement cost
Replacement Cost
  • Replacement cost coverage will pay what it actually costs to replace the items you lost.
how to reduce risk
How to Reduce Risk
  • Keep an inventory of your personal belongings
  • Keep receipts for major items
  • Lock your doors
  • Use your deadbolts
  • Don’t let your house look vacant
  • Maintain your home