Property Insurance
Homeowner
When it comes to protecting your home, market value isn’t always the same as what it would cost to rebuild. Homeowners insurance focuses on replacement cost—what it would take to repair or rebuild your home after a covered loss, not what it might sell for in the current market. That’s why working with a knowledgeable agent is so important—we help ensure your home is fully protected, no matter what.
What a Homeowners Policy Typically Covers:
- Dwelling Coverage – Pays to repair or rebuild the physical structure of your home, and may include additional buildings like detached garages, sheds, or pool cages (which may need to be specifically requested).
- Personal Property Coverage – Protects belongings inside your home such as furniture, electronics, clothing, and more.
- Liability Protection – Offers financial protection if someone is injured on your property or if you’re held legally responsible for damage.
- Loss of Use (Additional Living Expenses) – Covers the cost of temporary housing and living expenses if your home is uninhabitable due to a covered event.
Condo
One of the appealing aspects of condo living is that exterior upkeep and structural repairs are typically handled by the condo association. While their “Master Policy” usually covers the exterior and shared areas, the inside of your unit is your responsibility—and most associations require homeowners to carry their own condo insurance policy.
What You’re Responsible For
In most communities, the association handles the building structure and common areas. As the condo owner, you're typically responsible for everything from the walls inward. This includes items like drywall, flooring, cabinets, appliances, and all your personal belongings.
What a Condo Insurance Policy Covers:
- Dwelling Coverage – Protects interior elements such as cabinetry, wall finishes, flooring, and more.
- Personal Property Coverage – Covers belongings like furniture, electronics, and clothing.
- Liability Protection – Offers coverage if someone is injured in your unit or if you’re held legally responsible for damages.
- Loss Assessment – Helps pay your share if the association charges unit owners for a portion of a covered loss, commonly up to $2,000.
Renters
Renters insurance is a low-cost way to protect what you own. Your landlord’s policy only covers the building—not your personal belongings. In the unfortunate event of a fire, storm, or other disaster, you could lose everything. Without renters insurance, replacing your items would fall entirely on you. The good news? Most renters policies cost less than a dollar a day.
What’s Included in a Renters Policy:
- Personal Property Coverage – Your belongings, from furniture to electronics, are worth protecting. Renters insurance ensures you're covered even though you don’t own the building itself.
- Liability Protection – Offers coverage if you’re found responsible for injuries or property damage to others and helps cover legal expenses.
- Loss of Use (Additional Living Expenses) – If you’re temporarily displaced due to damage to your rental, this coverage helps pay for hotel stays, meals, and other living expenses.
Rental Dwelling/ Landlord
Landlord insurance is designed to protect the physical structure of your rental property. This includes the building itself—walls, roof, floors, and any permanent fixtures—against damage from covered events like fire, storms, or vandalism.
Key Coverage Features:
- Dwelling Protection – Covers repairs or rebuilding of the rental property after damage.
- Other Structures – May include detached garages, fences, or sheds on the property.
- Liability Protection – Offers coverage if a tenant or visitor is injured on your property and you’re found responsible.
- Loss of Rental Income – Provides reimbursement for lost rental income if your property becomes uninhabitable due to a covered loss.
Having landlord insurance helps safeguard your investment and gives you peace of mind while renting out your property.
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