How protect ximma Insurance to homeowners and renters?
The homeowners policy contains two sections. Section I provides property coverages (A, B, C and D) while Section II provides liability coverages (E and F). A brief description of the individual coverages follows:
Coverage A – Dwelling Coverage A provides major property coverage that protects your house and attached structures if it is damaged by a covered peril.
Coverage B – Other Structures This coverage provides protections to other structures on the residence premises that are not attached to the dwelling. Items covered include detached garages, tool sheds, etc. Coverage B is normally limited to 10% of the coverage A limit. However, you may purchase more coverage for an additional premium.
Coverage C – Personal Property This coverage provides protection for the contents of your home and other personal belongings owned by you and other family members who live with you. Coverage C is normally 50% of coverage A or is subject to an established amount agreed upon by you and the insurance company.
Coverage is limited on certain types of property that are especially susceptible to loss, such as:
Jewelry, Furs, fine Arts, Silverware, Antiques, Collectibles, Firearms, Money.
Additional amounts of insurance may be purchased. You may want to consider scheduling these items separately. Ask our Ximma Insurance agent for specifics.
Coverage D – Loss of Use This coverage will help with additional living expenses if your home is damaged by a peril insured against to the extent that you cannot live in your home. These expenses include, but are not limited to, housing, meals and warehouse storage. Coverage D is normally limited to 20 percent of Coverage A.
Coverage E – Personal Liability This section of the homeowners policy will provide coverage in the event you or a resident of your household are legally responsible for injury to others. Coverage E normally provides a defense and will pay damages, as the insurance company deems appropriate. There are some exceptions. The liability coverage will not protect you in all situations, such as an intentional act. All of the exclusions and specific language can be found in your policy.
Perils Generally Covered by a Homeowners Policy if Damage is caused by: Fire or lighting, windstorm or hail, explosion, riot or civil commotion, aircraft, vehicles, smoke, vandalism & malicious mischief, theft, volcanic eruption, Falling objects, Weight of ice, snow, sleet Sudden & accidental water damage, Breakage of glass
Renters Insurance: News reports of apartment fires often include tragic stories of renters who have lost everything because they weren’t insured. Your landlord does not provide insurance for your personal property. Having all your personal possessions destroyed in a fire or other insurable event, without coverage, is a tragedy that does not have to happen. To protect your belongings, you should consider purchasing renter’s insurance, also known as “tenant’s insurance.” The renter’s policy may be used to provide coverage for your personal contents located in the property that you occupy. Coverage is also provided for loss of use, personal liability protection and medical payments to others.
Coverage generally Provided under a Renter’s Policy:
Coverage C – Personal Property an amount, designated by the insured, subject to a minimum as determined by your insurance company.
Coverage D – Loss of Use 20% of Coverage C
Coverage E – Personal Liability Generally subject to a minimum of $100,000
Coverage F – Medical Payments to Others Generally Subject to a minimum of $1,000