Home FAQ's
Q: What is homeowners insurance?
A: Homeowners insurance is an insurance contract that protects your residence from certain types of covered claims. The typical homeowners policy has two main sections: 1) covers the property of the insured and 2) provides personal liability coverage for injuries/damages to guests on your premises.
 
Q: What do I need to know when purchasing homeowners insurance?
A:
  • Select a financially strong insurance company.  We suggest a carrier rated "A" or better by A.M. Best's rating service.
  • Get the amount and type of insurance that you need.  Ask one of our agents to assist you if you are not sure what you need.
  • Determine the amount of personal property insurance and personal liability coverage that you need.
  • Select any additional endorsements you want to add to your policy. For example, do you want the personal property replacement cost endorsement?
 
Q: What is "actual cash value"?
A: When "actual cash value" is used in a policy, a policy owner is entitled to the depreciated value of the damaged property.
 
Q: What is replacement cost"?
A: When "replacement cost" coverage is used in a policy, a policy owner is reimbursed an amount necessary to replace the article with one of similar type and quality at current prices.
 
Q: Does my homeowners policy provide "all-perils" coverage?
A: Homeowners policies are not all alike.  Some provide coverage for more types of claims than others.  Don't assume that you have the coverage you need until you speak to one of our licensed agents.
 
Q: Should I purchase earthquake coverage?
A: Direct damages due to earthquakes are not covered under the standard homeowners insurance policy. If you are concerned about potential earthquake damage, you may want to consider adding an earthquake endorsement to your homeowners insurance policy. This endorsement will cover damages due to earthquakes, landslides, volcanic eruptions and other earth movements.
 
Q: Should I purchase flood coverage?
A: If your property lies in a flood plain as determined by US Government Flood Maps, then flood insurance is typically required by your mortgage lender. Ask your Dakin agent about a flood quote.