HOMEOWNERS INSURANCE
WHAT IS
HOMEOWNERS INSURANCE
Homeowners insurance usually covers:
Your dwelling
Additional Structures of your property
Personal property
Liability for any injuries or damages to someone else's property
Damage caused by fires, lightning strikes, windstorms and hail.
Protect Your Home With Homeowners Insurance
Carriage Trade Insurance has over 15 years of experience in Homeowners Insurance. However, because everyone's needs are not the same, it is best to consult with us to assess your needs and find the right insurance policy for you.
Your credit history, claims history, and marital status
can all contribute to your premium costs:
Insurance companies will look at how good you are at making payments and how much debt you have.
Typically, the better your credit score, the lower your insurance premium.
Credit history
Any claims you've made at previous residences will be assessed by your insurance company when determining your premium. The type and frequency of the claims you've filed can lead to higher premiums.
Claims history
Married people have been found to file fewer insurance claims than single individuals. Therefore, if you are married, you will generally have lower premiums.
Marital Status
Know Your Homeowners Insurance
Here are a few things to consider and ask your agent about home insurance:
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How much will it cost to rebuild my house and replace my belongings if they are damaged or destroyed? (Ask your agent to talk you through your home's features and the things you own so you can make an informed decision about coverage.)
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Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
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What discounts are available? (Ask about multiple policies, security systems, and fire resistance discounts.)
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What's the process for filing and settling a claim? (Ask who to call and what happens after you file a claim.)
There are a few factors about your home that may affect your premiums:
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Home value
The value of your home can also influence the cost of your insurance. Typically, the greater the value of your home, the higher your insurance premiums will be.
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Age of property
Older buildings tend to have costlier premiums since the materials they're built with may be more expensive and harder to replace. For example, if you have stained-glass windows in your home, that could cost more to replace than a standard window since stained-glass windows are far less common.
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Remodeling
Any improvements made to your home will increase your premiums since renovations typically increase the value of your home, therefore increasing your home's replacement costs. Although, repairs made to your roof, electrical, or plumbing that raise safety or efficiency may allow you to receive discounts that can reduce your premiums. Always alert your broker about new home remodels to ensure they can be replaced if damaged or destroyed.
Your Home
If your home is located in a high-risk area, you will commonly pay more for your home insurance. Homes that are considered at a higher risk for damage or loss are those located near coastlines, farther away from response teams (fire or police departments), or in areas that are more susceptible to natural disasters.
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If your home is being used for work purposes, you may need to purchase additional coverage. Most standard home insurance policies will provide some liability coverage and limited protection for business equipment you may keep at your home, but it may not be enough. To ensure you are sufficiently covered, you may purchase additional coverage or add it to your home insurance policy.
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Attractive nuisances are potentially dangerous objects that could attract people, including children, onto your property. The most common attractive nuisances are pools and trampolines—if you have either on your property, you will pay more for your insurance premium.
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Depending on your insurance policy, your dog may be covered under your home insurance policy if they are involved in a liability claim. But, some dog breeds marked "aggressive" may have limited coverage or none. The most common dog breeds insurance companies are wary of covering are Rottweilers and pit bulls.
Your Location
Ready for a quote?
It's imperative to clearly understand your policy and how it works to help you recover from a loss. Remember to review your policy regularly to ensure it protects your home thoroughly, and contact Carriage Trade Insurance Agency, Inc. for additional guidance.
If you've read this far, thank you for your interest in Carriage Trade Insurance Agency, Inc. We work with multiple A+ rated companies in New York, New Jersey, Connecticut, and California. Don't hesitate to contact our office at 516.358.5600 or contact us online, and an insurance professional will get back promptly.