Homeowners insurance provides financial protection, and covers both damage to your property and also your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people.
Your home is your most important asset and you must be certain that you have correct amount of coverage in the event of loss. At Roxbury Insurance Services we work with you to ensure that your home is not underinsured and protected from different exposures. We determine which coverage you need and will access major insurance carriers to find you the right policy that meets your financial needs at affordable rate.
Standard home insurance policy includes following essential types of coverage includes:
Coverage A – owner occupied Dwelling – the structure of your home
Coverage B – household Personal Property
Coverage C – loss of use, additional living expenses in the event you are temporarily unable to live in your home because of a fire or other insured disaster.
Damages caused by Earthquake and Flood are not covered by homeowner policies. A separate policy must be purchased to cover these risks.
Level of Homeowners Coverage: regardless of whether you are an owner or renter, you have the following three options:
Actual cash value: this type of policy pays to replace your home or possessions minus a deduction for depreciation
Replacement cost: this type of policy pays the cost of rebuilding/repairing your home or replacing your possessions with no deduction for depreciation
Guaranteed or extended replacement cost: this policy offers the highest level of protection. Guaranteed replacement cost policy pays whatever it costs to rebuild your home as it was before the fire or other disaster.