Homeowners Insurance

   Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.

   American Insurances believes that your home is as individually unique as you are and it is a special place with unique protection needs. We specialize in working together with you, the homeowner, to specifically tailor your coverage to meet your needs.

   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 purchase two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

Standard Policy

   A standard homeowners policy includes four essential types of coverage.  They include:

• Coverage for the structure of your home.

• Coverage for your personal belongings.

• Liability protection.

• Additional living expenses in the event you are temporarily unable to live in your home because of fire or other insured disaster.

Levels of 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. The policy pays the cost of rebuilding/repairing your home or replacing your possessions without a deduction for depreciation.

• Guaranteed or extended replacement cost.  This policy offers the highest level of protection. A guaranteed replacement cost policy pays whatever it costs to rebuild your home as it was before the fire or other disaster – even if it exceeds the policy limit. This gives you protection against sudden increases in construction costs due to a shortage of building materials after a widespread disaster or other unexpected situations.

Optional Coverages

  Some of the optional coverages available include:

• Sewer or Drain Back-up

• Incidental Business Occupancy

• Earthquake Coverage

• Scheduled Personal Property

• Enhancement Endorsement

• Expanded Endorsement

• Personal Computer Coverage Endorsement

• Dwelling and Other Structures Siding and/or Roofing Restoration Coverage

Perils

   Most homeowners insurance policies protect against the following perils:

• Fire or Lightning

• Windstorm or Hail

• Explosion

• Sonic Boom

• Riot or Civil Commotion

• Aircraft or Vehicles

• Smoke

• Vandalism or Malicious Mischief

• Glass Breakage

• Theft

• Falling Trees or Other Objects

• Weight of Ice, Snow or Sleet

• Sudden Bursting or Cracking of a Heating or Cooling System

• Freezing of Plumbing, Heating and Cooling Systems

• Accidental Overflow or Discharge of Water from Within the Home

• Power Surge Damage to Electrical Appliances

• Volcanic Eruption