Will Your Homeowner Policy Be
There When You Need It Most?
Careasa Greer Agency
2 out of 3 Homes Are Underinsured
• The latest survey shows that the typical
homeowner is underinsured by 27%!
• Equate this into real dollars
– $100,000 home is underinsured by $27,000
– $200,000 home is underinsured by $54,000
– $250,000 home is underinsured by $67,500
– $300,000 home is underinsured by $81,000
Remember these figures . . .
Insuring your Home at 100% of
Why insure at 100% of Reconstruction
• You protect your ability to rebuild your home
to its original luster.
• Failure to maintain appropriate insurance
coverage will cause you to have to bear
extensive out-of-pocket costs.
• Would you rather pay out in accordance to the
previous figures listed or would you rather
rest assure that your home is covered?
Breakdown of the HO Policy
• Dwelling Coverage – (protects the house/structure)
• Separate Structures (detached garage, storage shed)
• Loss of Use ($ available when you home is
• Guest Medical (when visitors get hurt on your
• Liability (payable to a 3rd party when you are deemed
liable for their loss or injury)
• Building and Ordinance (allows the home to be rebuilt
in accordance to the codes)
• Keep in mind – LAND IS NOT INCLUDED IN COVERAGE!
• Residence Glass – (we include these automatically on every
policy). Allows you to replace broken glass (windows)
without paying a full deductible.
• Identity Theft Shield – provides an affordable means for
you to monitor your credit report, receive credit
alerts, public records monitoring, travel document
replacement, disaster document replacement and 3rd party
claims management service that will complete all the
legwork in restoring your identity for a fraction of the cost
you would pay the 3 major credit bureaus and other ID
• Variety of other services available to make your
homeowner policy work specifically for you and your
Rebuilding Your Home
What goes into the rebuilding
process? Consider This . . .
• Your policy will pay for the cost
of rebuilding your home – as
long as you have sufficient
• Debris removal and repairs.
Remember, it cost more to
rebuild a home than to build
one from the ground up
because of the costs
associated with debris removal
and repairs that must be made
before rebuilding the
NEVER . . . .
. . . insure your home at property tax value!
. . . insure your home at purchase price!
. . . insure your home at retail value?
More than likely if you use any of these three
factors to build an insurance plan for your home –
your home is UNDERINSURED!
• Schedule an annual review with your agent to go over items that
may have changed in your house. (Additional family
members, remodel of your home, discounts you should have on
your policy, etc.)
• Take advantage of multi-line discounts by having all of your policies
at one place.
• If you plan to become a homeowner, currently own a Renters policy
– it is easily convertible to a homeowner policy and you will receive
discounts for having continuous coverage.
• Maximize the coverage available through your base policy.
• Consider adding an Umbrella to your policy to cover any
outstanding liability you may incur from underlying
automobile, homeowner, boat and motorcycle policies. ($1
mill, $2mill, $4 mill, $5mill, etc.)
How Do I Protect One of
My Greatest Investments?
Thinking about making some major
modifications to your home? Contact
your insurance agent to update your
homeowner policy to take into
consideration the modifications you
recently made to your home.
Did you know an estimated 75% of all
remodelers fail to update their
insurance coverage to reflect those
improvements? Failure to insure your
home properly can result in the failure
to rebuild your home after a
Ready to Close? Homeowners
Know these factors are considered
when determining the total premium Townhomes
for your new home . . .
Type of home being insured
(brick, vinyl siding, townhome, etc.)
Special features of the home – trey Rental Property/Landlord
ceilings, cathedral ceilings, hardwood
floors, tile floors, winding
staircases, central vacuuming Vacant Homes
Square footage, the number of
stories of the home, attached or
Vacation Homes, etc.
detached garage, enclosed or walk-out
basement? We have a policy for every
CREDIT! Yes, credit plays a major
factor in the calculation of your type of home your need to
premiums. The better your credit
rating, the better your insurance