Vacant Property
Vacant Property or Property being remodeled quote form.
Brand: Allstate, Progressive, Farmers, Infinity
Posts Tagged ‘Home Insurance’
Monday, October 22nd, 2012
Friday, May 18th, 2012
Whether it is your first home or a veteran homeowner, understanding home insurance is critical for protecting your investment.
Here are 7 things you need to know:
1. Get a clue report.
“It’s important for new homebuyers to think of insurance as part of the home search process and to look at obtaining coverage for the home as far in advance of closing as possible,” says Mary Bonelli, a spokeswoman for the Ohio Insurance Institute.
Besides getting a home inspection from a Georgia licensed inspector, request a copy of a C.L.U.E. report. A Comprehensive Loss Underwriting Exchange–is a database that gives insurers access to information on claims that have been filed against the property in the last five years. As a prospective buyer, you can’t get a report from the company, but you can ask the homeowner, who can ask LexisNexis, for a copy. A growing number of buyers are requiring sellers to provide a copy of the report as a contingency for a purchase offer. The loss history will reveal problems that could make insuring the home difficult or expensive. Ask an Affordable Insurance agent about the home’s insurability and for an estimate of the premium.
2. What a Georgia home insurance policy doescover.
A standard Georgia home insurance policy covers the home and your belongings, as well as your liability for any injuries or property damage you, your family members or pets may cause others. It also provides additional living expenses in case you can’t live in the home while it’s being repaired after an insured disaster.
Policies are fairly standard among states. Here are the basic types of home insurance in most states:
• HO-1, a bare-bones home insurance policy that protects against an average of 10 perils.
• HO-2, a broad home insurance policy that covers the house and contents against an average of 16 disasters.
• HO-3, the most popular and broadest home insurance policy. It covers against all perils except those specifically excluded (earthquake, flood, nuclear accident, neglect, war, government action [such as seizure of the property], power failure, building code laws [it would not cover the cost to bring your house up to code, for instance], losses from faulty construction materials, defective maintenance, and faulty zoning.).
• HO-6, a home insurance policy for condo’s and co-op owners. The policy provides coverage for liability, personal property and structural parts of the building you own.
• HO-8, a home insurance policy designed for older homes whose replacement cost far exceeds the property’s value. The policy usually reimburses you for actual value–replacement cost minus depreciation. Georgia has plenty of older homes whose values have depreciated may not qualify for replacement cost coverage.
You need to understand the difference between actual cash value and replacement cost coverage. Actual cash value coverage pays for the cost of replacement, minus depreciation. If your five-year-old car was destroyed, the payout under actual cash value coverage would equal the autos value, considering its age. Replacement cost coverage would pay for buying a brand new auto.
3. What home insurance doesn’t cover.
Standard Georgia home insurance policies don’t cover floods or earthquakes. You must purchase separate policies to get coverage for those disasters. Your lender will require you to buy insurance through the National Flood Insurance Program available through Affordable Insurance Agency if you live in a flood-prone area. Also, in some coastal areas,Georgia home insurance policies exclude damage from wind; homeowners there need a separate windstorm insurance policy to cover wind damage. Earthquake insurance is optional, but recommended in many areas throughout the state of Georgia when the home may be near a fault line.
4. The limits.
Standard Georgia insurance policies put dollar limits on valuables, such as jewelry, furs, fine art, and antiques. You may need to buy a “floater” or endorsement to provide extra coverage.
Always complete an inventory of your personal belongings, working closely with your agent and asking lots of questions to make sure you have enough coverage. I recommend using a recording device to take video of all items in the attic, closets and other areas in case of a loss for proof.
Always consider purchasing additional liability coverage through an umbrella policy if your home has a pool, spa, golf cart, or atv due to exposure.
5. Insure the cost to rebuild, not the market value.
After the housing market imploded in 2008, more than 25 percent of Georgia home owners mistakenly thought they should reduce their home insurance because market values had dropped.
Insure your home for the cost to rebuild it, not its market value. The rebuilding cost doesn’t include the value of land. That amount could be more or less the market value, depending on labor and materials costs.
6. The benefits of shopping with Affordable Insurance.
Shop several companies at one time by calling our Independent Agency. We not only find who provides the best coverage at the best price, but also represent the insurance companies that have strong financial ratings.
7. You need to update.
Review your home insurance needs with your Affordable Insurance agent every year. Home owners who add bedrooms, bathrooms and amenities is a great example. Unfortunately, if the insurance policy is not upgraded, and the home is destroyed, the policy will not cover the beautiful home additions. It only provides coverage for the modest house since his policy was not upgraded.
When in doubt about your home insurance coverage, check your policy and talk to your agent. It’s better to address questions now than to get caught short after the damage has been done. Please call with any questions you may have regarding your Georgia Insurance Policy at (706)297-0009
Monday, January 30th, 2012
Builders Risk InsuranceBuilders Risk InsuranceBuilders Risk coverage protect the structure while being built along with materials and offers liability protection.
Brand: Allstate, Progressive, Infinity, Mercury
Builders Risk from Affordable Insurance Agency protects you from damage to your project while it is being built.
As you may know, managing your Builders Risk Insurance can get complicated. So Affordable Insurance Agency has partnered with several “A” rated companies that make the process simpler, easier to use and even saves you money.
- Affordable Insurance knows you’re busy. So we’ve created a way for you to get the Builders Risk insurance you need by filling out our easy to use fillable form which only takes a few minutes of your time and may save you money.
- Every project is different. So our Builders Risk insurance products are remarkably flexible, enabling you to get just the coverage your project requires at a low price.
- Costs are critical. So we offer highly competitive rates—along with our quality protection and outstanding service.
Relying on Affordable Insurance for Builders Risk insurance that covers your needs:
- Building materials owned by contractor and others
- Foundations
- Temporary structures like scaffolding
- Paving, fencing and outdoor fixtures
- Lawn, trees and plants installed by builder
- Debris removal and pollutant cleanup
- Profit
- Additional coverage is available for tools & equipment, terrorism, blanket model home contents and more
Product Details
Availability:
- Georgia, South Carolina
Business types:
- Residential general contractors
- Remodelers
- Developers
- Light commercial general contractors
Product Features:
- Some products are completely web-based – you can manage your account online any time
- Annual Policy with pro-rata cancellation for second and subsequent years
- Special credits available for large contractors
- Easy-to-use online tools save time and money
- Exceptional customer service
- Fast, friendly and efficient claims management staff
- Financial stability – Affordable Insurance has partnered with companies that are “A” Rated “Excellent” by A.M. Best Company, a leading independent insurance rating organization
- Financing is available for large accounts
- Low premium
- Low down payments on financed accounts
Affordable Insurance is located in Toccoa, Georgia and services Georgia & South Carolina. For any questions please call 706-297-0009
Tuesday, January 17th, 2012
Georgia Home InsuranceGeorgia Home Owners insurance has many different forms and types. Many mortgage companies require coverage on the structure.
Brand: Allstate, Progressive, Mercury, Kemper
Georgia Homeowner’s Insurance Laws
Georgia Home Insurance
Georgia Home Owners insurance has many different forms and types. Many mortgage companies require coverage on the structure.
Brand: Allstate, Progressive, Mercury, Kemper
Georgia homeowners paid an average of $798 per property, per year, in homeowners insurance, or approximately $120 more than the national average. While its not required by Georgia law, homeowners insurance may be mandated by your mortgage lender, so its important to have all the facts before signing the dotted line.
Coverage Exclusions
Georgia Home Insurance 60 Day Rule
Just like with Georgia auto insurance, your Georgia homeowners insurance can be cancelled by the insurer for any reason during the first 60 days of the policy, but a 10-day termination notice must be given by mail. After 60 days, Georgia law restricts cancellation in what is known as the “term period.” During this time, your Georgia homeowners insurance policy can only be terminated if you fail to pay for your premiums, file a false claim, are charged with a felony or fail to keep the property in safe conditions.
Dogs, Trees and Automobiles
Certain types of dogs may be excluded on a Georgia homeowners insurance policy, or they may keep you from getting insurance coverage altogether. Many Georgia home insurance companies will not even provide a quote for Georgia Homeowners if they have specific animals living on the property. For example, many Georgia insurance companies will raise your premiums or cancel your policy if you have an American Pit Bull Terrier, American Staffordshire Terrier, Doberman, Rottweiller, Chow, Presa Canario or any wolf-hybrid animal. For example a Progressive home owner policy may require a letter from a dog trainer stating that any animal owned has completed a course and is found to be of no danger to others and is not a specific breed that is considered a danger. If you have tree damage and want to file a Georgia homeowners insurance claim, most plans will only cover the cost to move tree debris, and hail- and wind-damaged trees are not covered in Georgia home insurance policies. All vehicles on your property, including bikes, ATVs and other motorized machines are also not protected by a Georgia homeowners insurance policy.
The FAIR Plan
If your Georgia homeowners insurance policy is dropped or you cannot afford one, the Georgia Office of Insurance recommends the Fair Access to Insurance Requirements, or FAIR Plan, which is offered by the Georgia Underwriters Insurance Association. The FAIR Plan steps in and helps low-income and un-insurable homeowners when traditional insurers cannot, either through limited coverage plan or a fire and extended policy. The Georgia Homeowners insurance policy offered by the FAIR Plan usually does not give the same coverages as other Georgia homeowners policies from standard insurance companies such as Progressive, Liberty Mutual or Mercury.
Keep in mind that each company has different restrictions and coverages. At Affordable Insurance Agency top rated insurance companies are quoted to ensure that the Georgia home owners policy that best fits the home owner is found and at a competitive price. Affordable Insurance Agency offers free quotes on insurance products. Shopping for Georgia home owners insurance is very easy when dealing with an Affordable Insurance agent. Call today or fill out the quote submission form for a quick quote on your home insurance today! If you are looking for more discounts allow Affordable Insurance to quote your Georgia auto insurance policy as well to recieve a package policy discount!
Tuesday, January 17th, 2012
Home InsuranceHome Insurance coverage from multiple companies. Different companies offer different prices depending on the location and other factors.
Brand: Allstate, Progressive, Mercury, Kemper, Farmers
Insuring Your Home
Home Insurance
Home Insurance coverage from multiple companies. Different companies offer different prices depending on the location and other factors.
Brand: Allstate, Progressive, Mercury, Kemper, Farmers
You maintain a well-built, safe home, doing everything you can to make sure it will continue to meet your family’s needs now and in the future. That home may represent your largest financial investment. Yet, a fire or weather catastrophe could destroy it and everything in it. You can take steps now to secure the right insurance coverage, so if the worst happens, you can recover from the financial loss to your damaged property.
Your homeowner policy from Affordable Insurance insures more than your property, giving you the personal liability protection and peace of mind that you and your family deserve. You could be held legally responsible for accidental bodily injury, personal injury or property damage to someone else. Liability coverage would reduce your chance of personal financial loss due to a covered occurrence. It is best to go over your assets with your Affordable Insurance agent to ensure the proper amount of coverage is achieved to protect your assets from a law suit.
Multiple Policy Types, depending on your specific situation:
- HO-3 customizable coverage for homes of any value
- HO-5 customizable coverage for homes over $500,000 in value
- Condominium-customizable coverage for condo owners.
- Tenants-customizable coverage to protect a renter from loss of personal property
- Landlord Policy-customizable coverage for rental homes
Consider the Affordable Insurance Difference You can feel secure knowing your homeowner policy is backed by a financially strong insurance company. Affordable Insurance shops your coverage needs with multiple A rated carriers to ensure the best price with a financially sound company. Several payment plans are available since we write with multiple carriers. An actual agent will answer your questions. Affordable Insurance Agency understands that purchasing a policy can be a tedious task and will work to help with the confusing and sometimes frustrating process of beginning your policy. Affordable Insurance Agency appreciates your business!
Let us put the Affordable Insurance advantages of personal service and value to work on your homeowner policy. Consider these optional benefits not always available from other agencies:
- You can add earthquake coverage with your Homeowner Policy if not included in the policy automatically.
- You can add coverage for some residential businesses and your professional liability to the same policy at competitive rates with certain carriers.
- Some policies provide coverage for damage to golf carts.You can add protection against your liability for damages caused by a golf cart, on or off the golf course.
- Identity theft protection is offered on most policies. When someone fraudulently uses your identity, you or your insured family members will have an advocate to guide you in restoring your identity, and you’ll recover the related expenses and fees.
Reward Yourself You have lots of ways to save money on your homeowners insurance policy. You may qualify for many premium-reducing credits for:
- insuring both your home and auto with us, savings up to 20%
- owning a newer home
- increasing your deductible
- installing a home alarm monitored by a central station
- reporting fewer or no claims
- having your home bult by a preferred builder
Contact an Agent: Affordable Insurance Agency serves you exclusively through a select group of companies. To obtain a quote, report a claim or learn more about the value of Affordable Insurance home policies and reliable claims service, please fill out a form on our web site today, call, or email today. Coverage and credit availability varies. Underwriting requirements apply. This is not a policy.