Whether you live in a property you own such as a house, or condo, or rent an apartment, the place you call home is not only a major investment - it's where you've created lasting memories with the people you care about most. Protect not only your assets but the memories you've made there.
At E.P. Tremblay Insurance in Somerset, MA we offer property insurance designed for homeowners and renters alike. Our agents will help you find, understand, and customize the right home or renters insurance for your property. Safeguard your home, apartment, condo, belongings and more with our affordable solutions for homeowners and rental insurance.
HOME INSURANCE FAQS
Who decides on the type of insurance, the mortgage company or me?
You do. The mortgage company collects a set amount from you each month in order to protect their investment. This money is put in escrow and covers your insurance and taxes. However, the policy is still yours and you might select the insurance you feel offers the best coverage at the best rates.
What exactly does a Homeowners policy cover?
“Exact” coverage is impossible to define because there are different policies and about 900 insurance companies writing Property/Casualty business in the United States. However, all Homeowners policies cover two important areas: Property and Liability.
Property insurance covers your structures and possessions. Personal Liability insurance covers you if you’re legally obligated to pay money to another person for actions caused by you, your family or your property. Coverage can extend to medical payments to others for injuries caused by you or your family.
Are floods, earthquakes, and other natural disasters covered?
Most catastrophes are covered. Flood and earthquake damage, however, are not covered by a standard policy and both perils are more common than many people realize. We can advise you on such normally excluded conditions as floods and earthquakes.
Are there exclusions I should know about?
Policy exclusions might include neglect, intentional loss, “earth movement,” general power failure and even damage caused by war. If you fail to take care of your property (e.g., a leaky roof), you might not be covered. Obviously, if you intend to lose an object or damage your property, there’s no coverage.
One other exclusion that can be costly is the Ordinance or Law exclusion. Governmental building codes that drive up the cost of rebuilding or repairing after a loss occurs might not be covered by your insurance policy. If current laws require higher grade or more expensive materials than those you’re replacing, the extra expense might not be covered.
RENTAL INSURANCE FAQS
How expensive is renters insurance?
It is typically available for as little as $100 a year.
Does my landlord’s insurance protect me?
Generally, no. The property owner’s insurance covers the building itself and seldom a tenant’s possessions or liability. Clarify this with your landlord before signing a lease.