Answer:

Homeowner’s insurance policies normally provide replacement cost coverage for the dwelling in the event of a loss. As such, insurance companies require policyholders to purchase an amount of insurance equal to the cost to rebuild the home using current construction costs and materials of like quality, but not including depreciation. This can be very different from the market value of the home. The market value of a home is the amount the home is worth if it were sold today, considering land, market conditions, and depreciation. The two amounts are normally quite different. Your agent at The Crockett Insurance Group will help you calculate the most accurate replacement cost value that will afford adequate funds to rebuild your dwelling in the event of a loss.

Answer:

Uninsured motorist coverage is an automobile policy option that covers one for bodily injury and property damage caused by another, at-fault motorist that either does not carry liability coverage or who has very low limits that do not cover the damage they caused. Uninsured motorist coverage on your auto policy protects YOU and is for YOUR benefit. As a victim, you would receive an amount from your insurance carrier equal to what you would have been paid had the at-fault motorist been adequately insured. Your Crockett Insurance Group agent will show you how the nominal premium represented by the uninsured motorist coverage will pay you big benefits in the event of a loss caused by an irresponsible, uninsured motorist.

Answer:

The personal umbrella policy is excess liability insurance that provides protection that is over and above that provided by auto, home, and boat insurance. People with significant assets or significant earnings potential need an umbrella liability policy to cover lawsuits that can sometimes amount to millions of dollars. The umbrella policy has broad coverage that can cover some claims that wouldn’t be covered by home and auto insurance, such as personal injury lawsuits arising from slander, possible animal liability, libel, or rental units the insured may own. The policy also covers any damage to the property of others that is held, controlled, or cared for by the insured. Your Crockett Insurance Group agent can help you determine your proper amount of coverage for your personal umbrella.

Answer:

Most policy holders look at their declarations page and see a contents or personal property limit and think that limit covers all belongings on their property. However, if they continue to read the policy there is a section entitled “Special Limits of Liability” where they would find that most companies limit many items, including business personal property. If you own a small business and have an inventory in your home, there is a very good chance that it is not covered by your homeowners policy. Your Crockett Insurance Group agent will review your policy and will advise you if your business personal property is covered. If not, your agent will structure a policy to economically ensure that your business property is adequately protected from loss.

Answer:

One of the surest ways to minimize your homeowners premium is to ensure that you are receiving all credits due you from your insurance carrier. There are many credits available on home insurance policies that many consumers are not aware of. Your base premium may be reduced if you maintain monitored fire or burglar alarms, if you live in a gated or guarded community, or if certain construction provisions have been made to lessen wind damage. Your Crockett Insurance Group agent can assist you in determining exactly what credits you are due. If a wind mitigation inspection is required, our agent can offer you a list of state-certified inspection companies that can complete the necessary inspection report that could lead to reduced premiums.