Home Owners and Renters Insurance

Image of Traditional Home Interior - Terry Hayes Insurance - Sacramento Homeowners and Renters Insurance

A home is most likely the most important purchase a person will make in their lifetime. Purchasing homeowner’s insurance should also be an important purchase, as it protects your investment.

There are many components to a homeowner’s insurance policy the most important being the dwelling coverage. Other coverage that may be included in your insurance policy cover you for loss of personal belongings, loss of use, other structures, personal liability and medical pay.

Dwelling coverage simply put, pays for the cost to rebuild part of or the entire structure in the event of a covered loss. You have a fire that damages your home and part of your home needs to be rebuilt. Dwelling coverage will pay up to the policy limits to rebuild that part of the home to its original condition. Exceptions include flood and earthquake which must be covered by a separate policy.

We can provide comprehensive coverage for your most prized possessions, including special coverage for jewelry, paintings, antiques, cameras, and just about any kind of collectable or fine art.

Image of Modern Home Exterior - Terry Hayes Insurance - Sacramento Homeowners and Renters Insurance

Personal Property coverage pays for the loss of your property which is not part of the structure. Some items may have limits of coverage such as collectibles, money, gold, jewelry etc. A “Floater” to your policy may be purchased to increase the coverage for a particular item. Personal property coverage is usually worldwide coverage. Payment for a claim under personal property is determined as Actual Cash Value (ACV) otherwise known as depreciated value. To better protect you, many insurance carriers offer to purchase Replacement Cost Value coverage for an additional premium. This is intended to replace the item or items covered at today’s value. For instance your leather sofa is ruined by water after a pipe broke and flooded the home. The insurance carrier will reimburse you for the full cost when you replace it with a like sofa.

Loss of Use coverage pays for any costs you incur while unable to use your home for a covered loss. An example would be if you had a kitchen fire and the damage resulted in you unable to use your kitchen until the repairs are made, the additional expense from eating out would be covered.

Other Structures would be any structure not attached to your home such as a fence or shed.

Personal Liability coverage protects you from a claim or lawsuit resulting from injury to others. Little Jimmy, your neighbors son, runs through your yard and trips over a bush breaking his leg causing your neighbor large medical bills. They sue you to recoup their damages. Personal Liability coverage may also protect you for personal injury such as slander, libel or invasion of privacy. In addition, Personal Liability coverage is usually worldwide coverage

Image of Modern Home Interior - Terry Hayes Insurance - Sacramento Homeowners and Renters Insurance

Medical Pay is usually no fault coverage and is payable to others that are injured while on your property. While your friend is visiting she slips and twists her ankle while in your home. The medical pay coverage will reimburse her for the doctor or hospital visit up to the coverage limit.

Renters Insurance

You don't have to own a home to get great coverage for your personal possessions

Renters Insurance has all of the coverage as homeowner’s insurance with the exception of dwelling coverage. If you rent an apartment or home and there is a fire or other loss to the building and your personal property is ruined or destroyed, your landlord’s insurance does not cover you or your possessions. In addition, the renters policy also covers you for loss of use, liability and medical pay. The premium for Renters Insurance Coverage is typically very inexpensive. We proudly serve the Sacramento, Roseville, Orangevale and Folsom areas.

Terry Hayes Insurance Agency
CA Lic# - 0D62017      9266 Madison Avenue, Orangevale, CA 95662       Phone 916-988-2402