Homeowners Insurance Coverage
Most homeowner’s insurance policies provide coverage for your home, its contents, and other structures such as a garage or shed.
Personal property is typically covered against fire, lightning, theft, windstorms and hail, smoke, damage by vehicle or aircraft, burst pipes, damage from falling objects, and damage caused by weight of snow and ice. In addition, coverage is provided for personal liability, medical expenses of others which result from injury on your premises, and damage to the property of others while on your premises.
Renter’s coverage is also available. Coverage is provided for your contents as well as your personal liability.
Please call or e-mail Melinda Shields at (800) 858-4331 or email@example.com to determine the coverage that best fits your needs. Our agency professionals tailor the coverage to fit your situation. We provide comprehensive coverage for your most prized possessions, including special coverage for jewelry, paintings, antiques, cameras, and just about any kind of collectable or fine art.
The Knorpp Insurance Agency serves the home, auto, and business insurance needs of individuals, families, and businesses throughout the Southwest.
Money Saving Tips for Homeowners
Raise your deductible. If you can comfortably handle a larger deductible, you can save yourself significant premium costs over the years.
Explore "package discounts" that may reduce your rates if you insure your home and cars with the same company.
Install dead bolt locks on all exterior doors. This will deter break-ins -- a worthy goal in itself-- and often will qualify you for a premium discount.
If you have a nonsmoking household, be sure to let your agent or insurer know. Smokers in a home represent a higher risk because of the possibility of an accidental fire. If your household consists totally of nonsmokers, ask about a premium discount.
Install a home security system, including fire, water, and burglar alarms. Insurance companies encourage their policyholders to adopt these measures and may offer a premium discount for having some sort of home security system in place.
Replace current roofing with roofing that has a UL Class 4 impact rating. You can receive up to a 35% premium discount by having this new type of roofing.
Be sure to review your policy annually. It is especially important to contact us if you are planning an addition or an extensive remodeling project on your home.
Insuring Your Possessions
Jewelry, Silver, Furs, Antiques, and Other Valuables
Most homeowners’ policies contain special limits on the amount of coverage for items such as jewelry, furs, antiques, silverware, collectibles, guns, etc. These limits often include a $500 maximum for any one theft claim on jewelry, watches or furs. Since the average value of an engagement ring is now several thousand dollars, you could find yourself seriously underinsured in the event of a loss.
Few things can be more unsettling when it comes to insurance than the feeling you have not received the full value of your damaged or stolen property after a loss. This is especially true when the loss involves these kinds of personal possessions whose values are difficult to set or can change over a long period of time. Gold jewelry for example may be worth significantly more than its original purchase price due to an increase in the market price of gold.
How can a “schedule” help properly insure this type of property?
A "schedule" is simply a way of specifically listing valuable items on your homeowner’s, condominium or tenant’s policy. The schedule includes a brief description of each item and its dollar value. For certain items of property such as fine art or high valued jewelry, a professional appraisal of the item or a copy of the sales receipt is sometimes required. This helps assure the amount of insurance listed on the schedule accurately reflects its current value. You're then sure that in the event of a covered loss, the amount of your insurance is enough to repair or replace the item.
What other benefits does a schedule provide?
There are other advantages to insuring personal property on a scheduled basis. First, scheduled property is not subject to the policy deductible. Second, coverage for the scheduled property is actually broader than the "named perils" such as fire, theft, and vandalism provided under your basic policy. This broadening would include most types of accidental damage to the scheduled property which you might not normally consider. For example, a schedule would provide coverage for a diamond which has fallen out of its setting, or an antique table top damaged by water leaking from a flower vase.