At Richardson Insurance we know that not everyone's home or home insurance needs are the same.
We have multiple tools to put together a policy specifically catered to your individual needs.
What is Homeowners insurance?
Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.
Types of Coverage
The Homeowners policy deductible is the amount "deducted" from a loss settlement. This is the part of the loss for which the homeowner is responsible. The standard homeowners policy deductible is $1000 but higher deductible options are available. For example, an insured has a $10,000 covered loss due to a kitchen fire. The insurance company will pay for the damages in excess of the deductible. If the homeowner carries a $1000 deductible, the payment from the company would be $9,000.
HO3 (Special Form)
The "standard" homeowners policy is written on an HO3 or Special Form. This form includes "All-Risk" or "Open Peril" dwelling coverage and broad form contents coverage.
Special Personal Property
This option expands coverage from broad form - named perils coverage to open perils (“all risk”). Special personal property coverage means all personal property losses are covered, unless specifically excluded in the policy.
Replacement Cost on Personal Property
This coverage protects possessions like televisions, furniture, clothing, and more. It covers the cost to fully replace your
personal property if it is damaged or destroyed by a covered loss. Without this endorsement, contents are covered at a depreciated value (Actual Cash Value).
Complete the Homeowners Insurance Form and a Richardson Insurance representative will put together a quote specifically catered to your needs.
Homeowners Insurance Form