Insurance

Nov 18 2016

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Homeowners Insurance

Homeowner’s insurance covers property damage and protects you and members of your household if you are sued for bodily injury or property damage.

Are You Overpaying to be Under-Insured? If your home is insured by a “one-size-fits-all” insurance policy, you may be overpaying for protection that leaves you exposed to severe financial loss. The most likely underinsured risks you face are:

  • Inadequate replacement coverage to rebuild a home that is destroyed by a fire or other disaster listed in your policy. A guaranteed replacement cost policy will cover the cost to rebuild your home with similar quality materials and craftsmanship. Extended replacement coverage pays the full cost of restoring your home to its original quality, even if that value exceeds the coverage amount on your homeowner’s policy.
  • Coverage for living expenses in the event you are temporarily unable to live in your home due to an insured disaster.
  • Insufficient coverage for jewelry and other valuable collections that are stolen, lost, or destroyed by an insured disaster. Your insurance coverage should include loss as well as theft of the item.
  • Insufficient liability protection in the event of a lawsuit. Standard homeowner’s policies often limit liability coverage to $100,000.  The cumulative value of your property, savings and investments may exceed the limits of your homeowner’s policy, making you vulnerable if you are sued. 
  • Contact a HUB Personal Insurance broker to review your family’s personal insurance program. Our specialists will provide a personalized recommendation for insurance coverage that’s tailored to your needs.


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