Homeowners

  • On average, 374,000 residences catch fire per year, resulting in $7.32 billion in loss*

  • In 2010, 2,158,878 houses were burglarized, resulting in an estimated $4.6 billion loss*

  • In 2011. 1,691 tornadoes occurred in the United States, at a cost of $28 billion*

 

It is safe to say homeowners insurance can be a very wise decision when it comes to protecting your home from the many risks that can happen. Insurance can cover you from almost any potential loss from risks such as burglary or theft, severe storms, fire, and also personal liability. With a few specific risks, like floods or earthquakes, separate coverages not included in homeowners insurance may be required.

With liability coverage, comes with protection in the event that you are responsible for someone else’s injury or property damage while on your premises. Your homeowners insurance may even protect you against injury you inflict on another person off-premises under certain circumstances. Note that liability insurance will not cover acts of violence or intentional damage. If someone files a liability claim against you, your insurance can pay for property repairs, medical or funeral costs, or even a lawsuit if the injured party chooses to launch a legal process.

A recent study concluded that 69 percent of homeowners are underinsured.* Unfortunately, many homeowners think they are fully protected and are stunned to find out at the time of loss that their coverage is inadequate. That is why here at Armor Insurance Professionals we want to make sure that you a get a personalized policy that fits your exact needs for you and your home.

To help, here are a few strategies to consider to make sure you have adequate home insurance:

  • Increase your liability insurance with an umbrella liability policy, which will provide liability coverage up to $1 million or more.

  • Get replacement cost home insurance to cover what it would cost to replace your home and personal property, instead of “actual cash value” coverage, which will only cover the current depreciated value. You can use an online calculator to estimate your home replacement cost.

  • Be sure to read over the policy's exclusions carefully. Ask your agent if any of these items are a risk and if you can purchase additional insurance to cover them.

  • Add coverage for specific items of value, such as jewelry, art, and collectibles through endorsements or riders on the policy.

 

New Homes

With new homes, Armor Insurance Professionals know exactly how to set up a policy that addresses insurance needs for a newly built home. Compared to older homes, a newly built home will require less insurance, as everything will be new and up to standards, whereas an older home could have some aging effects and be at greater risk for any repairs or remodeling that will need to happen.

Older Homes

We understand your desire to fix up an older home and to be the your dream house, and here at Armor Insurance Professionals, we want to work with you to make that dream a reality.

With older homes, the amount of insurance needed may vary compared to a newly built home where everything is new and up to standard. But there is no need to worry; Armor Insurance Professionals will work alongside you to set up a personalized homeowners insurance that fits your every need.

 

Here are some great coverage choices available for older homes:

 

  • Increased dwelling protection

  • Water backup coverage

  • Eco upgrade coverage

  • Roof surfaces extended coverage

  • Coverage for today’s building codes

 

What factors could impact the cost to insure an older home?

 

  • Wonky wiring

  • Outdated plumbing

  • Storm-sensitive roof

  • Rare materials

  • Aged appliances

 

Keep in mind that with Armor Insurance Professionals, you get to personalize your insurance policies to suit your needs and circumstances. As a brokering agency, we can compare prices from different companies for you at no cost. Need help deciding on the right amount of protection that fits in your budget? Get an online quote  now or  speak with a friendly agent to get started!

Source

*Homeowners Insurance, Trusted Choice, 2017.

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