Your home is the center of your daily life, and likely your most valuable asset. When your home is damaged or destroyed, you need your claim settled by an insurance company that understands this simple fact. Cormarc Insurance Services can help you find the homeowner’s insurance that will best meet your needs and provide the most valuable combination of tailored coverage, quality service and fair pricing.
Insurance for All Kinds of Homes
Depending on where you live – a house, apartment, condominium, duplex, fourplex or Landlord– the right home insurance policy can provide you peace of mind as well as the money you need to repair or replace your home and/or belongings.
What you need to know about homeowners insurance whether you own or rent, insuring the place you call home can help protect you financially if you suffer a loss due to fire, theft, vandalism, or other covered events. It will also cover you in the event someone is injured while on your property and wins a legal judgment against you.
Cormarc Insurance Services is here to help you find the right insurance for your home. Whether you’re a home or condo owner, a renter, or a landlord, we will work with you to find a home insurance policy that fits your needs. We specialize in making it easy to choose the insurance coverage that gives you the best value for the best price.
Your home insurance policy is most often made up of the specific options you choose, so how much you’ll pay for your policy depends on:
- What you select. Oftentimes homeowners insurance options are priced individually, so how much you’ll pay for your policy depends on what coverage’s you buy.
- How much you want to cover. Higher deductibles usually lower your premium price by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
What’s covered by a standard Homeowners Insurance policy?
- Physical Structures: If your house or other structures on your property, like a garage or tool shed, are damaged or a deemed total covered loss, we’ll arrange for them to be repaired or replaced.
- Personal Belongings: If your personal possessions, like furniture, clothing, and appliances, are damaged or deemed a total covered loss, we’ll arrange for them to be repaired or replaced.
- Liability: If someone is accidentally injured or has their own property damaged while on your premises, we’ll defend any claims against you and pay them up to your policy limits. We’ll also pay for reasonable and necessary medical expenses up to the limit you purchased, regardless of who was at fault.
- Additional Living Expenses: We’ll cover your additional expenses if, due to a covered loss, you need to live elsewhere while repairs are being made to your home, enabling you to return to living your life as quickly as possible.
If you own a townhouse or condo, you have different insurance needs than the typical homeowner. Not only do you own your individual condo, you also share ownership in the common areas and overall structure of your building with your association. Although your association dues help pay for upkeep of the common areas, they do not typically cover your personal property within your own unit, or your liability if someone is injured on your property. Condominium insurance provides protection where condo associations do not. Our licensed insurance professionals understand the condominium insurance market and can help you get what you need at the right price.
Renters insurance acts the same as a home insurance policy would for a home owner. Renters insurance can protect you and your assets in a condo, apartment, house, duplex, etc. Your belongings are just as important as a regular homeowner. Our renter’s policy provides coverage for your household contents and personal belongings. Even if your landlord has property insurance, it probably does not cover your personal belongings in the case of a disaster or theft. We understand the difference. Let one of our professionals help you ﬁnd the right coverage for your individual needs.
Landlord Property Protection (Dwelling Fire DP3)
The property protection in a landlord insurance policy typically helps cover physical property related to the home you’re renting out. This may include the dwelling itself and equipment you keep on site to help maintain it. Coverage generally includes:
This coverage helps pay to repair your rented home, condo or apartment if it’s damaged by fire, lightning, wind, hail or other covered losses.
- Other structures
This part of your policy helps pay to repair detached structures on your rental property, such as detached garage or fence, if they’re damaged by a covered loss.
- Personal property used to service the rental
If you leave a lawnmower or snow blower onsite to maintain your rental property, landlord insurance may help cover this equipment if it’s damaged. However, if you leave your personal bike or DVD player at the home you rent out, it likely won’t be covered under your landlord policy.
Landlord Liability Protection
The liability portion of a landlord insurance policy may help you pay for another person’s medical bills or your legal expenses if someone else is injured on your rental property and you’re found responsible.
For example, if your tenant falls down stairs at your rental property and a court determines that you failed to maintain the stairs and/or railing, you could be held responsible for your tenant’s medical, legal and other costs. In that case, your landlord liability coverage may help pay for those expenses, up to your policy’s limits. You typically won’t pay a deductible for a liability claim.
Duplex and or Fourplex
Insuring a duplex or fourplex can be slightly different than writing a home insurance policy for a single- family home. There are two or four homes under one roof, each with their own kitchen, bath rooms, living areas, and bed rooms. How a duplex or fourplex is insured depends on what the buyer’s intentions are for the property.
In order to know how to insure the duplex or fourplex, there are three things I need to know:
- Are they buying one side or all sides?
- If they are only buying one side, will it be their primary home or a rental property?
- If they are buying all sides will they live in one and rent out the others, or will all sides become rental properties?
Every property is unique– talk to us today at 800-743-2763 to find out how to get the best price and value.