Defensive Driving - Delaware Safety Council / Call (302) 654-7786
10% and 15% Savings off Liability Premium - Some companies will offer more
Good Student Rates
Drivers Training Discount
Multi Car Discount
Multi Policies Discount
Student Away at School over 100 miles away with no vehicle
Anti-Lock Breaks
Air Bags
Property Insurance
What Affects Property Insurance Prices:
Location or Territory
Type of Construction - Frame is usually higher than brick
Age of Home - New Home credit usually up to 10 years old
Fire Protection - Distance from fire hydrant and distance from local fire company
Amount of Coverage - Home, Contents, and Liability Limit
Deductible - The higher the deductible the lower the premium
Discount or Credits Available
Smoke Alarms, Dead Bolts, Fire Extinguishers
Central Fire or Burglar Alarms
Multi Policies
Higher Deductibles
Sprinkler Systems
Property Insurance - Coverages Available
Whether you own or rent, there are different packages of home insurance offered to protect your home and belongings.
Each package protests against a specified number of perils. Perils are events that cause damage to property. Three examples are fire, windstorm, and theft. In addition to coverages for named perils, each package policy usually contains four additional types of coverage: property damage, additional living expenses, personal liability, and medical payments. Home insurance policies apply to most owner occupied single-family homes, and modified slightly for apartments and condominiums.
Property Damage
Property damage coverage helps pay for damage to your home and personal property. Other structures such as: tool sheds, detached garages, houses, and their contents are also covered. You should check with your agent or your insurance company to determine if the amount of coverage on other structures is sufficient.
Personal property is the contents of your home, and other property belongings owned by you or family members who live with you.
Home insurance policies may provide limited coverage for small boats; however, most home insurance policies do not cover motorized vehicles unless there are unlicensed and used only at your home.
Some forms of personal property such as: silverware, computers, guns, money, expensive antiques, and jewelry have limited coverage under your homeowner's policy, and may need additional insurance. This coverage can be added to your policy as an endorsement.
You can choose to insure your home & belongings for either replacement cost or actual cash value.
Replacement Cost or Actual Cash Value?
Replacement cost is the amount it would take to replace or rebuild your home, or repair damages with materials of similar kind and quality, without deducting for depreciation.
Depreciation is the decrease in home or property value since the time it was built or purchased because of age or wear and tear.
Actual Cash Value is the amount it would take to repair or replace damage to your home after depreciation. For example, if your roof has a 20-year warranty and is 17 years old, there would be a depreciation for the age and condition of the roof.
Most standard home insurance policies cover the contents of your home (i.e., personal belongings) on an actual cash value basis. Many insurers offer an option for you to insure your belongings at replacement value or actual cash value, it is important to keep tract of its value. For instance, the addition of a room, new insulation, and yearly inflation all increase the replacement cost of your home, while the actual cash value of the home may decrease over time.
Check with your agent or insurance company at least once a year to make sure your policy provides adequate coverage.
Additional Living Expenses
Most home insurance policies provide additional living expenses, that will pay some expenses if your home is damaged by an insured event to the extent that you cannot live there while repairs are being made, or if you are denied access to your home by government order. These expenses could include limited motel, restaurant, and warehouse storage.
Personal Liability
This coverage protects you against a claim or lawsuit resulting form (non-auto and non-business) bodily injury, or property damage to others caused by your negligence. This coverage applies to you and all family members who live with you.
Medical Payments
Regardless of who is a fault, this coverage pays medical expenses for persons accidentally injured on your property by a member of your family or by your pets. Medical payments do not apply to your injuries those of family members living with you, or to activities involving your at-home business.
Property Insurance Forms
An insurance form is another name for an insurance policy, and it specifies what perils your home and belongings are insured against. The following are descriptions of the three most commonly sold policy forms.
Specified Form (HO-3) - offers a broad range of coverages to owners of single family owner occupied homes. This form provides comprehensive coverage on your home and a broad named peril coverage on your contents.
Tenants Form (HO-4) - or a renter policy, insures your household contents and personal belongings against the perils included in the home insurance Broad Form (HO-2). Like home insurance, it provides coverage for additional living expenses and includes personal liability protection.
Condominium Unit-Owners Form (HO-6) - will cover a unit-owner who wishes to insure his or her property, or to cover any items not insured by the association's policy. A unit-owner policy will also pay for property damage to personal belongings, wall, floor and ceiling coverings, and any accessories not originally installed in the unit. It also provides personal liability protection.
Perils Against Which Properties Are Insured Under Homeowners Policies Numbers HO-3, HO-4, and HO-6
Fire or Lightning
Loss of property removed from premises endangered by fire or other perils
Windstorm or hail
Explosion
Riot or civil commotion
Aircraft
Vehicles
Smoke
Vandalism and malicious mischief
Theft
Breakage of glass constituting a part of the building
Falling objects
Weight of ice, snow sleet
Collapse of building(s) or any part thereof
Sudden and accidental tearing, cracking, burning, or bulging of a steam or hot water heating systems or of appliances for heating water
Accidental discharge, leakage or overflow of water or steam from within a plumbing, heating, or air-conditioning system or domestic appliance
Freezing of plumbing, heating and air conditioning systems and domestic appliances
Sudden and accidental injury from artificially generated currents to electrical appliances, devices, fixtures, and wiring (TV and radio tubes not included)
Remember:
Your homeowners policy will usually not cover flooding, mudslides, earthquakes, nuclear accidents, pets, motor vehicles, car radio-steros, speakers, tape & CD decks used in your car/aircraft. Check you policy for a complete listing of perils not covered.
Boat Owners Coverages
The boat owners policy provides a combination of coverages. Most policies will provide coverage for liability, physical damage, and medical payments. Some policies offer additional coverages such as, emergency service, life salvage coverage, coverage for repairs after a loss, coverage for emergency first aid, and uninsured boaters coverage. The emergency service might cover such items as towing, delivery of fuel, and mechanical labor in case of breakdown. Life salvage would give compensation to other people who act to save human life if a boating accident occurs. Coverage for repairs after a loss would pay any reasonable expenses for repairs to protect covered property from further loss. Emergency first aid pays reasonable expenses incurred by an insured giving first aid to others at the time of an accident. Uninsured boaters coverage allows the insured to be compensated for any bodily injury damages for which they are legally entitled to, because of an accident with an uninsured boater. Some additional coverages are offered as part of the policy and others are offered for an additional premium. Most boat owners policies are written on an all risk basis. Under all risk, the insurer agrees to pay for any direct physical loss or damage to the covered property. All losses would be covered except those specifically excluded.
Boat
This amount of insurance applies to the boat (sometimes referred to as the hull). This limit provides physical damage insurance for the boat, and any permanently attached equipment, such as the inboard motor.
Outboard Motor
This limit of insurance would apply if an outboard motor is attached to the boat. An inboard/outboard motor would be covered under coverage A since it is a permanent attachment.
Boat Equipment
This limit applies to any portable boat equipment or accessories. Some items that may be included in this limit are; dinghies, tenders, life preservers, cushions, fire extinguishers, anchors, oars, citizen band radios, ship to shore radios, and other transmitting and receiving equipment while used in or on the boat.
Trailer
This limit applies to the trailer. Very few policies include this coverage under boat equipment.
Liability
This limit provides liability insurance for the insured or any other person using the boat with the insured's permission. Coverage is provided for bodily injury and property damage arising from the ownership or operation of the boat.
Medical Payments
This coverage pays the necessary medical expenses incurred by a covered person within one to three years from the date of a boat accident. A covered person is the insured, a family member, or any person occupying the boat at the time of an accident. Payment could be made for such expenses as medical and dental x-ray's and services, nursing fees, ambulance charges, and funeral expenses.
Deductible
This amount applies to each occurrence and each boat or trailer listed in the policy. The insurer is obligated to pay only when a covered loss exceeds the deductible shown in the policy.
