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Homeowner Coverages

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A homeowners insurance policy is designed to protect you financially if your home, belongings or personal liability suffers a covered loss.

Included Coverages

Dwelling

Dwelling protection covers damage to your home and attached structures, such as a porch, after a covered loss.

Example: Your house and garage are damaged by a covered peril such as fire, a windstorm or vandalism, and is repaired or replaced up, to your policy limits.

 

Other Structures

Other structures coverage is for stand-alone structures like a fence, detached garage or shed.

Example: You’re grilling your famous burgers when you get a little distracted and the grill catches fire, which leads to a smoke-damaged gazebo. Your homeowners insurance will pay to repair or replace other structures, detached from your home, up to the policy’s limits.

 

Personal Property

Personal property includes your belongings, like tools, furniture and electronics. This coverage will repair or replace items that are stolen or damaged in a covered event. These are often covered - whether inside the home or not - when damaged due to a covered loss.

Example: A thief makes a visit while you’re away. You come home to find your house ransacked and your valuable jewelry, television, guns and computers have been stolen. Your personal property coverage will pay to replace stolen items, and may even repair any damaged property, up to your policy limits.

 

Personal Liability

Personal liability can help protect you financially if you’re deemed liable for someone’s injury or damage to their personal property due to a covered loss.

Example: A neighborhood kid is trick-or-treating and slips on your porch. If you’re found at fault for his injuries, this coverage may pay for medical costs and legal fees related to the incident, up to the policy limits.

 

Loss Of Use

Reimburses the excess cost you incur to temporarily relocate if your property becomes uninhabitable due to a covered loss.

Example: A fire breaks out in the kitchen, and your house is considered unsafe to live in until it’s fumigated. You have to rent a hotel for two weeks, pay to have your dog boarded, and spend money on meals because you don’t have access to a kitchen. The additional funds you spend during this period could be reimbursed, up to your policy limits.

Optional Coverages

Scheduled Personal Property

An extension of the standard personal property coverage, this supplements the limits needed to cover your belongings.

Example: The value of your gun collection exceeds the limits of personal property coverage on your homeowners policy. Adding a scheduled personal property to your policy will extend this coverage to meet your needs.

 

Home Systems Protection

This is a low-cost coverage enhancement option to your homeowners policy that covers the repair or replacement of important systems in your home due to a mechanical or electrical failure. Consider it the cherry on top of your homeowners policy.

Example: Your refrigerator suddenly has an accidental mechanical breakdown and is not a covered loss on your standard homeowners policy. In this instance, Home Systems Protection coverage is a great option to repair or replace the item, up to your policy limits.

 

Personal Property Replacement Cost

Most policies provide personal property coverage on an actual cash value basis, which factors in depreciation. But you have the option to purchase your personal property coverage on a replacement cost basis, which would provide coverage for the actual dollar amount regardless of depreciation.

Example: Let’s say you purchase a laptop for $1,000 and two years later, it is stolen. On a standard policy with actual cash value, you will receive $800 because the laptop’s value depreciated over those two years. If you’d purchased a personal property replacement cost policy, you would receive $1,000 for the stolen laptop, regardless of depreciation.

 

Home Sharing

Home-sharing coverage is intended for those who use their property as a short-term rental. This coverage provides financial protection for you while others are staying in your home. This is separate from a policy that a landlord with rental properties would need to have.

Example: You’re hosting a short-term rental guest that booked through a popular home sharing app. The guest accidentally floods your bathroom, causing damage to your floors. This coverage may pay to repair or replace items due to a covered loss, up to the policy limits.

*Some exclusions apply. All coverages are subject to deductibles and policy limits. This is not an insurance policy. It is intended only to provide a general description of Alfa Insurance® and/or its product lines and services. An actual policy contains the specific details of the coverages, conditions and exclusions. Your Alfa® agent can explain the policy and benefits and answer any questions you may have before you buy.

 

Included Coverages

Dwelling

Dwelling protection covers damage to your home and attached structures, such as a porch, after a covered loss.

Example: Your house and garage are damaged by a covered peril such as fire, a windstorm or vandalism, and is repaired or replaced up, to your policy limits.

 

Other Structures

Other structures coverage is for stand-alone structures like a fence, detached garage or shed.

Example: You’re grilling your famous burgers when you get a little distracted and the grill catches fire, which leads to a smoke-damaged gazebo. Your homeowners insurance will pay to repair or replace other structures, detached from your home, up to the policy’s limits.

 

Personal Property

Personal liability can help protect you financially if you’re deemed liable for someone’s injury or damage to their personal property due to a covered loss.

Example: A neighborhood kid is trick-or-treating and slips on your porch. If you’re found at fault for his injuries, this coverage may pay for medical costs and legal fees related to the incident, up to the policy limits.

 

Personal Liability

Personal liability can help protect you financially if you’re deemed liable for someone’s injury or damage to their personal property due to a covered loss.

Example: A neighborhood kid is trick-or-treating and slips on your porch. If you’re found at fault for his injuries, this coverage may pay for medical costs and legal fees related to the incident, up to the policy limits.

 

Loss Of Use

Reimburses the excess cost you incur to temporarily relocate if your property becomes uninhabitable due to a covered loss.

Example: A fire breaks out in the kitchen, and your house is considered unsafe to live in until it’s fumigated. You have to rent a hotel for two weeks, pay to have your dog boarded, and spend money on meals because you don’t have access to a kitchen. The additional funds you spend during this period could be reimbursed, up to your policy limits.

Optional Coverages

Scheduled Personal Property

An extension of the standard personal property coverage, this supplements the limits needed to cover your belongings.

Example: The value of your gun collection exceeds the limits of personal property coverage on your homeowners policy. Adding a scheduled personal property to your policy will extend this coverage to meet your needs.

 

Home Systems Protection

This is a low-cost coverage enhancement option to your homeowners policy that covers the repair or replacement of important systems in your home due to a mechanical or electrical failure. Consider it the cherry on top of your homeowners policy.

Example: Your refrigerator suddenly has an accidental mechanical breakdown and is not a covered loss on your standard homeowners policy. In this instance, Home Systems Protection coverage is a great option to repair or replace the item, up to your policy limits.

Learn more about Home Systems Protection

 

Personal Property Replacement Cost

Most policies provide personal property coverage on an actual cash value basis, which factors in depreciation. But you have the option to purchase your personal property coverage on a replacement cost basis, which would provide coverage for the actual dollar amount regardless of depreciation.

Example: Let’s say you purchase a laptop for $1,000 and two years later, it is stolen. On a standard policy with actual cash value, you will receive $800 because the laptop’s value depreciated over those two years. If you’d purchased a personal property replacement cost policy, you would receive $1,000 for the stolen laptop, regardless of depreciation.

Learn more about actual cash value vs replacement cost. 

 

Home Sharing

Home-sharing coverage is intended for those who use their property as a short-term rental. This coverage provides financial protection for you while others are staying in your home. This is separate from a policy that a landlord with rental properties would need to have.

Example: You’re hosting a short-term rental guest that booked through a popular home sharing app. The guest accidentally floods your bathroom, causing damage to your floors. This coverage may pay to repair or replace items due to a covered loss, up to the policy limits.

*Some exclusions apply. All coverages are subject to deductibles and policy limits. This is not an insurance policy. It is intended only to provide a general description of Alfa Insurance® and/or its product lines and services. An actual policy contains the specific details of the coverages, conditions and exclusions. Your Alfa® agent can explain the policy and benefits and answer any questions you may have before you buy.

 

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Homeowners Insurance FAQs

Your policy will list the covered perils for your coverages, and your agent can answer questions you have about your policy. A homeowners policy may cover: • Fire and Smoke Damage • Windstorms • Hail • Water Damage (usually some exclusions to this one) • Damage from ice, snow or sleet • Falling Objects (such as a healthy tree during a storm) • Vandalism • Explosions • Glass Breakage • Theft

Your deductible will be the amount you pay when filing a claim before your coverage kicks in. Selecting a higher deductible will lower your premium so you should select the highest deductible you can afford to pay at any given time.

Personal liability claims can get quite expensive. Most standard homeowners policies have $100,000 in coverage; but it’s always a great idea to get as much insurance as you can afford. Talk with your agent about your needs and whether you may need a personal umbrella policy, too.

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