What is Property Insurance?
On this website, we use the term Property Insurance to mean any form of insurance that individual
consumers need to protect their leased or owned property. While cars, trucks, and motorcycles might
be owned property, there are specific insurance policies tailored to cover such vehicles and the
insurance industry typically does not define these as “property.”
In general, property insurance includes things like homes, dwellings, owned personal property, personal
jewelry, and owned tools and equipment. Property Insurance is available to cover losses that might
occur to that property and we can custom tailor the right policy to meet your needs.
There are three main types of property insurance policies that we write for non-commercial individuals
or families:
- Homeowner’s Insurance Policies (including renters insurance and condominium insurance)
- Dwelling Fire Policies (usually written to insure rental property, vacant property, or personally
owned property that might be used for commercial use - Floaters/Scheduled Items Policies (written to cover specifically covered items such as jewelry,
guns, computers, fine art, and other higher value items which could be lost, stolen, or damaged)
It’s also important to note that when we write a Homeowners policy and sometimes when we write a
Dwelling Fire policy, coverage typically includes liability coverage for the policyholder and their
immediate family who reside in the home.
Why is Property Insurance Important?
There are several significant reasons this coverage is important.
- First, a home and one’s belongings often represent the largest assets that many own. Because
fires occasionally happen and we can’t control the weather, everyone’s property is always at
risk. Property Insurance can make a person or family whole again after a terrible loss. - Next, Homeowner’s Policies provide a family who has lost their home with money to live
elsewhere while the home or apartment is being rebuilt or until new permanent living
accommodations can be achieved. Likewise, the loss of rents from a rental building can also be
insured. - In addition, simply by living life, all of us have the potential of causing damages or injury to
others because of our actions. Plus, legally, if we own property, we are at risk of injury to others
if we fail to adequately maintain that property. Much of this risk is provided by the liability
insurance coverage afforded in most Homeowner’s and Dwelling Fire policies. - Finally, Property Insurance is often contractually required if a mortgage is being obtained for
personally owned property. The financial institution lending the money understands the risks
just mentioned and needs to make sure that their interests are protected. Property Insurance is
simply a mandatory coverage for most property owners.
- First, a home and one’s belongings often represent the largest assets that many own. Because
Here are some common Coverage Highlights:
- Coverage for Real Property
- Additional Living Expenses and/or Loss of Rents after a covered loss
- Coverage for Personally Owned Property
- Liability Coverage for injuries to others sustained at the insured location
- Liability Coverage for some claims resulting from the personal liability of the insured
How Our Team Can Help:
Our experienced team of insurance professionals is here to guide you in determining your needs and
finding the appropriate solution. We do this in several ways:
- Tailored Solutions: We understand that every client/situation is unique. Our team will work
closely with you to customize an insurance plan that meets your specific needs and budget. - Risk Assessment: We will conduct a thorough risk assessment of your individual or family needs
to identify potential risk you face and recommend appropriate coverage options. - Claims Assistance: In the event of a claim, our dedicated claims specialists will assist you
throughout the claims process, ensuring a smooth and hassle-free experience. - Expert Advice: With our in-depth knowledge of the insurance market, we can provide expert
advice and guidance to help you make informed decisions about your insurance coverage.
- Tailored Solutions: We understand that every client/situation is unique. Our team will work
Get Started Today!
Protect your investment and minimize financial risks with Property Insurance. Contact our team today to
learn more about our insurance solutions and how we can help safeguard you and your family.