Homeowners insurance is very important. Your home is usually the most expensive purchase you make and you want to protect the home, the items inside it and the people in it. Homeowners insurance policies vary, so it is important to review what is covered and what isn't, what the claim deductibles are, and other factors that may affect the cost. Epstein Insurance Services will compare home insurance policies to see what is the best solution for your business.

Insurance can help you with your peace of mind, knowing that in the event of a covered loss, your damaged home will be rebuilt and your destroyed belongings will be replaced. Types of coverages include:*

• Dwellings and other structures
  For most of us, our home is the single largest investment we will make. Homeowners insurance provides coverage for damage to your home and other structures on your property such as a shed or detached garage. For townhouse owners, your townhouse and separate structures are covered for almost any type of damages except for a few common exclusions, such as wear and tear, earth movement, flood, nuclear hazard and earthquake.
• Dwelling Improvements, Alterations, and Additions
  Condominium owners are covered for accidental damage to improvements you make in your unit for which your association's policy does not provide coverage, subject to your condo insurance policy limits.
• Loss assessment
  Condominium owners will also receive up to $1,500 for assessments arising from covered damage. This can be used to pay for your share of property damage or injury awards for which your association's policy does not provide coverage. Typically, up to $50,000 is available, but this may vary depending on your policy.
• Personal Property
  Homeowners, condominium, or renters insurance also provides coverage for your household contents and personal belongings. You may think your couch, coffee table, sweaters, shoes, coats, TV, VCR and CD player aren't worth a lot, but those items all add up when you have to replace them.
• Personal Liability
  Finally, in the event someone is injured on your property or you damage property that belongs to others, you could be held legally liable for the injury or damage. A homeowner, condominium or renter policy provides liability coverage and personal property insurance should this ever occur.

*Only up to the limits of the insurance coverages purchased.

What if I don't have homeowners insurance?
Without insurance, you'll be responsible for protecting your property, possessions and liability exposure.

For instance, if your house burns down or is destroyed by a tornado, you'll need to rebuild your home and replace all your damaged possessions with only the funds you have or can obtain. Do you usually have $500,000 readily available in case something like this happens? If so, could you be putting that money to better use instead of having it sit there just in case something happens?

Something else to consider: if someone is injured on your property, they may sue you for injuries and damages they sustain which may be well beyond $1,000,000. Without insurance, you may have to liquidate your assets and even lose a portion of your wages if you need to pay for a judgment.

NOTE: If you have a mortgage, you must have homeowners insurance or your mortgage will go into default and you can lose your home! Your mortage company may ask you annually if you are still insured, so don't think you can buy it for one year and think you are safe.

How should I inventory my possessions?
Many people make a list upon purchasing or acquiring items of value such as appliances and collectibles. Be sure to mention the manufacturer, model and serial number where applicable in case of damage or theft. It is also recommended to take photos or video tape the exterior and interior of your home and your belongings. Your old car may be a wreck or it could be a restored classic of greater value and the same goes for your other items.

High value items include jewelry, artwork, coin collections and other items that may appreciate in value. Appliances such as televisions, computers, refrigerator, washer, dryer and other electronic appliances may be expensive but they depreciate in value. They are still expensive to replace and proving the age and manufacture helps to prove its current market value when making a claim.

Store your inventory list, photos and tapes in a safe deposit box or fireproof safe. You can send a list to your homeowners insurance agent for protection, but you should review and update it annually or when you acquire another valuable item to protect.

How can I keep my home safe?
Keep your home free from clutter or obstacles. Keep tools and chemicals stored and out of reach of children. Keep walkways properly lit and consider outdoor lighting and security cameras. Install a home security system. Test smoke detectors, carbon monoxide detectors and other alarms and replace batteries or products when necessary. Keep your home maintained and up to code.

Click on the link below to fill out a quote request form for a California homeowners insurance policy that provides excellent homeowners insurance coverage and services at an affordable cost. Or you can speak with our Epstein Insurance Services agent to discuss the features.

Click here to fill out a California Homeowners Insurance policy quote request form.

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