Home Page
postheader postheader postheader postheader postheader

Why some home coverages may surprise you

-          Updating the Electrical

A homeowner worst nightmare is the house burning down. Now imagine, while its being rebuilt, the city is requiring you to install modern electric system. Construction codes change through the years, after all. Your insurance company may offer optional Ordinance or Law coverage. This will help with additional expense and bring the home up to code.

-          A Hotel in the Meantime

When most people think of home insurance, they think of coverage for their actual home. But, what happens when you can’t live in it during construction. Most policies will help you pay for a place to stay if the home in uninhabitable due to a covered incident. This is known as loss of use, this coverage helps compensate you for the additional expenses of living elsewhere and may cover food as well as lodging.

-          Refrigerator Meltdown

Something unexpected goes wrong with your refrigerator. Many insurance carriers offer equipment breakdown coverage as an option with your home insurance policy. This applies when an appliance has an unexpected mechanical or electrical breakdown and covers the cost to repair or replace it. But, that is not all. Related cost, such as spoiled food and energy efficiency upgrades, may be covered, too. For only a few extra dollars it could be a nice alternative to extended warranties on major appliances.  

-           Stolen Identity

Without going entirely off the grid, the potential for identify theft is nearly unavoidable. Identity recovery id offered as an option with most homeowner’s policies and provides valuable tools to help pick up the pieces after your identity has been stolen. This can include use of case manager to assist in recovery and reimbursement of some expenses related to your efforts. While anti- virus software and personal firewalls should be maintained, this coverage can help with peace of mind in case security measures fall.

-          Lost Engagement Ring

The engagement ring was sitting right on the dresser before you left for the gym, but now it’s gone. Many people are shocked to realize that their homeowner’s policy may limit the payout for certain items.  Your ring maybe worth $4500 but your personal property coverage may limit payouts to $2500. But if you add a scheduled personal property to cover the ring, the day will be saved. For high value items they should be scheduled separately.

As you can see, a homeowner’s policy can cover a lot more than just the home! To make sure you have the coverages you want to contact one of our personal lines agents at Quantum Insurance Group. Thank you to Safeco for this topic. 

Posted 11:10 AM

Share |

No Comments

Post a Comment
Required (Not Displayed)

All comments are moderated and stripped of HTML.
Submission Validation
Change the CAPTCHA codeSpeak the CAPTCHA code
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2018
  • 2017
  • 2016

View Mobile Version


3140 Finley Road, Suite 400F | Downers Grove IL 60515 | 630.964.1360 | info@quantumagencies.com

Powered by Insurance Website Builder