Home Insurance
What is the ultimate purpose of a homeowners’ policy? Home insurance is one of the most misunderstood insurance policies one can purchase. It is purchased to enable a homeowner to rebuild his or her home and life in the event of a total destruction. Everett and Sons is here to put a comprehensive policy together for you. While some insurance companies give you a quote with the “bare bones” coverage for your home, Everett and Sons will make sure your home is insured for full replacement cost value. We want to make sure you can replace your home in a chance of a catastrophic event.
Everett and Sons helps you to understand what your homeowner policy covers.
- Coverage for the structure of your home – This pays to repair or rebuild your home if it is damaged or destroyed by a fire, hurricane, hail, lightning and other causes listed in your policy. There are exclusions to the homeowner policy: It does not pay for damage caused by a flood, earthquake or wear and tear.
- Coverage for your personal belongings – Furniture, clothes, sports equipment and other personal items are covered if they are stolen or destroyed by a fire, hurricane or other insured disaster. Items such as jewelry, furs and silverware are covered but are usually dollar amounts if stolen.
- Liability protection – Liability covers you against lawsuits for bodily injury or property damage that you or family member causes to other people. You are not just covered in your home but anywhere in the world!
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Additional living expenses – If you need to live outside your home due to damage by a covered loss, this coverage will keep you protected. It covers hotel bills, restaurant meals and other living expenses incurred while your home is being rebuilt.
Condo Insurance
Most condo owners overlook condo insurance because they believe that the Condo Association has insurance that will cover them. Condo Associations take out insurance on the building’s structure and complex grounds, not the condo owner belongings. Condo owners should cover themselves for damage, theft, fire and vandalism with a Condo Insurance policy. The policy also provides coverage for personal liability, the same way a homeowner policy does.
A condo insurance policy offers you
- Full replacement coverage if your unit is destroyed beyond repair
- Protection from damages caused be plumbing, vandalism, malicious mischief, sewer and drain backup and other causes
- Coverage for liability exposures and medical expenses if someone is injured on your property
- Coverage for expense incurred if you are unable to live in your home due to a covered claim
Renter’s Insurance
In Massachusetts, renter’s insurance covers your personal possessions if you rent a house or apartment. Renter’s insurance includes coverage for your personal property and also includes liability coverage, if someone happens to suffer an injury or damage and you are at fault.
Renter’s insurance is generally inexpensive and cost you less than $150 a year depending on your circumstances!
Frequently Asked Questions
What is the difference between homeowners insurance and a home warranty?
Homeowners insurance helps protect your home and belongings from covered events like fire, wind, or theft. A home warranty is a separate service contract that may help pay for repairs or replacement of certain home systems and appliances due to normal wear and tear.
Does homeowners insurance cover burst pipes?
Homeowners insurance typically covers damage caused by a burst pipe if the pipe breaks suddenly and accidentally. However, damage caused by poor maintenance or neglect may not be covered. If you have questions about your coverage in Waltham, our team is happy to help.
What is loss of use coverage?
Loss of use coverage helps pay for temporary living expenses if your home becomes uninhabitable due to a covered loss. This may include hotel stays, restaurant meals, and other necessary expenses while your home is being repaired.
Do I need homeowners insurance if my home is paid off?
Even if you’ve paid off your mortgage, homeowners insurance is still an important way to protect your investment. Without coverage, you could be responsible for paying out of pocket to repair or rebuild your home after a covered loss.
Does homeowners insurance cover valuable items?
Most homeowners insurance policies provide coverage for valuables like jewelry, watches, firearms, and collectibles, but these items often have coverage limits. Homeowners in Waltham with high-value belongings may want to consider additional coverage for greater financial protection.
What should I do before filing a homeowners insurance claim?
If it’s safe to do so, document the damage with photos or videos and take reasonable steps to prevent additional damage. Keeping receipts and detailed records can also help make the claims process smoother.
Does homeowners insurance cover damage from frozen pipes?
In many cases, homeowners insurance covers damage caused by frozen pipes if you’ve taken reasonable steps to maintain heat in your home and prevent the pipes from freezing. Coverage may not apply if the damage resulted from neglect or failure to properly maintain the property.
Can I customize my homeowners insurance policy?
Yes. Many insurance companies offer optional endorsements that allow you to customize your homeowners insurance policy based on your needs. If you live in Massachusetts, we can help you explore available coverage options and recommend endorsements that make sense for your home.
How long does it take to get homeowners insurance?
Many homeowners insurance policies can be issued quickly once the necessary information about your home has been provided. If you’re purchasing a home in Waltham, our agency can help you secure coverage before your closing date.
How can I lower my homeowners insurance premium?
You may be able to lower your homeowners insurance premium by bundling home and auto policies, increasing your deductible, improving home security, maintaining a good insurance history, and reviewing your coverage regularly. Ask your insurance agent about available discounts and ways to adjust your policy without sacrificing important protection.