Answers to common questions...

A: Yes, your personal contents are covered anywhere in the world by the contents coverage of your homeowners policy.

A: Yes, you are covered if your ring is properly scheduled on a Scheduled Personal Property Endorsement prior to the loss.

A: A standard homeowners policy includes coverage for jewelry and other precious items such as watches and furs. However, the insurer will not pay more than an amount specified in the policy. You should schedule your diamond ring by purchasing a Scheduled Personal Property Endorsement, in which the ring will be scheduled at the professionally appraised limit.

A: Think about it this way – how much would it cost you to replace your entire wardrobe all at once? Or all of your dishes, pots and pans, and linens? Those few belongings may not seem like much to you, but may financially add up to a large amount when you begin to replace them. Or what if you or an immediate family member cause bodily injury or property damage to other people? Would you be financially stable to cover your legal responsibility?

A: If you have financed your home with a mortgage, your mortgage company will require you to get homeowners coverage in order to protect their investment in your home. If you have paid off your mortgage or paid cash for your home, no one will force you to buy homeowners insurance. However, it is not advised to go without homeowners insurance and risk losing what you have invested in your home.

A: Actually, it is not as costly as you think! For a relatively low premium, you can greatly minimize your financial risk.

A: Not true. Your landlord’s policy most likely does not include liability for something that happens in your rented residence.

A: Most homeowners and renters policies do not cover flood damage. Flood coverage can be purchased through the National Flood Insurance Program, as well as a group of private insurers.

A: You are covered only if your policy has a Water Back-Up Endorsement form.

A: Yes, a standard homeowner’s policy will provide coverage, up to your medical payments policy limit, for your neighbor’s stitches and medical expenses. Bodily Injury would also apply due to strict liability.

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A: Yes, the lady’s medical expenses are covered up to your policy limit.

A: Under a standard homeowners policy, lightning is one of the common covered perils. Yes, you would be covered.

A: You are responsible for the loss unless the neighbor was determined to be negligent. An example of negligence in this situation would be your neighbor not removing a rotten tree.