Homeowner Insurance Get A Quote Now

What would you do if you lost your home and possessions?  Purchasing insurance to cover the cost of your home and possessions can be a daunting task. And, if you have a home mortgage loan, banks and mortgage companies require it.  So it’s important to understand what’s covered and what’s not covered. Homeowner insurance generally speaking also refers to Mobile home, Condo/Co-op, and Tenant/Renter insurance, and in general protects against loss due to fire, theft, smoke, vandalism, or accidents to other people on the homeowner/insured’s premises for which the insured is responsible. There are a variety of comprehensive plans to choose from that can be tailored to your individual needs and budget.

Here are four levels of valuation on a homeowner policy

Actual Cash Value - Replaces your home and any property/possessions that are stolen or damaged, minus their depreciation

Replacement Cost - Pays to rebuild or repair your home or to replace your possessions for full cash value of current market price, without depreciation, up to the limit of the policy

Extended Replacement Cost - (not available for condo or tenant policies) - Pays rebuilding or repair costs up to a set limit that’s generally no more than 20 to 25 percent above the policy limit

Guaranteed Replacement Cost - (not available for condo, tenant policies, or mobile home policies)
Pays to rebuild the house to its previous level, and will include the increased cost of labor and materials, but not the cost of upgrades to new building codes  (You will need to purchase an extra ordinance endorsement to cover that risk.)

Endorsements can provide broader coverage for your home & assets

Sewer backup - Covers damage done by water or sewage that backs up through sewers or drains, or which overflows from within a sump pump or other system aimed at removing water from the foundation area.

Earthquake Protection – Coverage varies depending on your homes type of construction and proximity to an earthquake zone.

Flood Coverage - The standard homeowner insurance policy does not cover flood damage.  Only Flood Insurance policy will cover this type of loss. There is usually a 30 day waiting period before a flood policy takes effect. For more information go to www.floodsmart.gov.  

Identity Theft Coverage - Provides expense reimbursement coverage to an individual who has experienced fraudulent use of his or her social security number or personal identity to establish credit accounts, secure loans, and enter into contracts or commit crimes.

Protecting Valuables - Your furniture, clothes and most personal valuables are covered if they’re stolen or destroyed by fire, hurricane or other insured disasters. More costly items like computers, jewelry, furs, silverware, etc. are also included; however, coverage for theft and loss of such item is often limited. To ensure you’ll be compensated fully, get expensive items (i.e. jewelry, antiques, etc.) appraised and schedule those items on your homeowner policy.

Liability Coverage - Your homeowner policy (incl. Condo, Tenant, Mobile Home) and auto policy provide some liability coverage if you get sued. However, you may want additional liability protection provided through a personal umbrella policy. The umbrella policy goes into effect when you reach the limit on the underlying liability coverage in a homeowner, renter, condo, mobile home or auto policy. Because the personal umbrella policy goes into effect after the underlying coverage is exhausted, many insurers require a certain amount of liability coverage on your homeowner and auto policies before selling you an umbrella liability policy for $1 million or more of additional coverage.
How to Save Money on Homeowner Insurance
Call the Bradley Agency to ensure that you have the proper protection, and ask us about possible discounts that may apply. Discounts are generally available in the following situations.

Deductible
Choosing a higher deductible and paying for the smaller claims yourself allows you to lower your homeowner insurance premium.

Discounts & Credits

Multi-policy – By insuring your auto and home with the Bradley Agency, you will receive a discount on your auto premium as well as your homeowner insurance premium.

New Home – Receive a discount if you live in a new home. (Not available to tenants, condo or mobile home owners)

Premises Alarm – This discount is applied to your premium if you have smoke detectors installed in your home. (Not available to mobile home owners)

Sprinkler System Credit – If you install and maintain a sprinkler system in your home, you will receive a credit on your homeowner premium. (Not available to tenants, condo or mobile home owners)

Endorsements – We offer a variety of optional coverages to meet your individual needs, and these can be added to your homeowner policy for a minimal additional fee. (Not available to tenants, condo or mobile home owners)

Expanded Endorsement – You can increase the special amounts listed under the Personal Property Coverage section of your policy.

Enhancement Endorsement – With this endorsement increase the special amounts to even higher limits and include the following additional benefits.

Payment for direct loss caused by water or sewage that backs up through sewers or drains.

Payment up to an additional 10 percent of the amount on Dwelling Coverage for loss to trees, shrubs, plants and lawns on the residence premises.

Waiver of deductible shown on the policy declarations page for any loss from covered peril, exceeding $50,000.