A well-written homeowner’s policy will pay to replace any of your personal property that is destroyed in a fire or other disaster. The policy will also be your first line of defense against a lawsuit from someone injured in your home.

The cost of this coverage is determined by many factors. The quality of the coverage, however, is determined by the quality of the insurer and whether the policy is written on a named perils or all-risk basis. A named-perils policy covers only those losses specifically cited in the contract. The all-risk policy works the opposite way – unless a peril is specifically included, coverage is provided. The all-risk policy is broader, and the burden of proof is on the carrier, not you, in the event of a loss.

If you own a rental or investment property, you should make sure that you carry adequate rental property insurance coverage. Accidents may occur and ultimately cause damage to your investment property. If you do not have the necessary insurance, you will be responsible for the full financial cost. Owning an investment property brings with it a large degree of liability. In addition to the building itself, you may be responsible for injuries received by others while they are on your property. You could also be held responsible for damage to their belongings.

We can assist you in insuring your property, which may include:

• Commercial property
• Vacant property in land
• Rental home
• Commercial investment
• Residential investment

Mobile homes, manufactured homes, and modular homes are all eligible for coverage under a mobile home insurance policy. The policy not only covers your mobile or manufactured home, it can also cover:

• Detached structures on your property, such as a carport or garage
• Your personal belongings
• Living expenses if your home is seriously damaged by a covered loss
• Injuries that might occur on your property (up to the limits you choose on your mobile home insurance policy)

Condominium insurance provides coverage for your unit where your condominium association insurance stops. Your condominium typically insures the building and other common areas, but you are responsible for the interior of your unit. You typically need personal property and liability coverage in addition to coverage for your floors, walls, cabinets, and fixtures that your association’s insurance will probably not cover. Every association’s insurance policy is different regarding what each unit owner is responsible for, so it’s vital to review your association policy and condominium by-laws carefully.