At Owens Group we understand that your home or apartment is likely your most valuable investment, and is filled with your most important possessions. A well-written homeowner’s policy will pay to replace any of your personal property that is destroyed in a fire, flood or other disaster. It will also be your first line of defense against a lawsuit from someone injured in your home. These policies cover you in a home or an apartment, whether you are an owner or a renter.
The cost of this coverage is determined by many rating factors. The quality, however, is determined by the caliber of the insurer and whether the policy is written on a ‘named perils’ or ‘special form’ basis.
A named-perils policy covers only those losses specifically cited in the contract.
A special form policy works in the opposite way–unless a peril is specifically excluded, coverage is provided. The special form policy is broader and the burden of proof is on the carrier, not you, in the event of a loss.
Circumstances that you may want to consider, which require a special addition to your policy, include Flood and Earthquake. These perils are generally excluded on most policies, but are available for additional premiums.
Let Owens Group provide a complimentary assessment, taking into account your type of home, your environment and other relevant circumstances — and offer guidance in crafting the best possible policy for your needs.