Personal Insurance Options ↓
Frequently Asked Questions
How is my home insurance premium calculated?
Your premium is based on several factors: the age and construction of your home, its location, the coverage limits you choose, and your claims history. You can often lower your costs by installing protective devices like alarm systems or increasing your deductible.
Do I need extra insurance for jewelry or expensive art?
Maybe. Standard policies have specific dollar limits for high-value items in cases of theft. If your items exceed these limits, you may want “scheduled” coverage. This ensures you get the full replacement value and adds protection for “mysterious disappearance”, which covers you if an item is lost or misplaced rather than just stolen.
What does tenant insurance actually cover?
Renter insurance provides three main things: it replaces your personal belongings if they are damaged or stolen, offers liability protection if someone is hurt in your home, and covers extra living costs if your place becomes uninhabitable after a covered claim.
Replacement cost vs. actual cash value: What’s the difference?
Replacement cost pays to buy new items of similar quality without accounting for wear and tear. Actual cash value only pays what your items were worth at the time of the loss (depreciated value). Choosing replacement cost usually means a slightly higher premium, but much better protection when you need to buy new things.
