Home Insurance FAQ's

Below are the commonly asked questions regarding home owner's insurance.

• Do I need renter’s insurance even if I don’t own much personal property?

Yes, renter’s insurance covers you beyond your personal property. It includes liability coverage and additional expenses should you need to live elsewhere while your home is being repaired.

• Are my sewer lines covered?

Sewers and other service lines are not covered under the standard home policy. Many carriers offer a service line endorsement that can be added to offer some coverage for these lines.

• Can we adjust my Coverage A because Zillow says my home is not worth the same amount?

Coverage A is based on the replacement cost of your home, to rebuild it with the        same kind and quality of materials. The replacement cost will differ from the market value of the home, and cannot be adjusted.

• Does my home insurance cover specialty items I may purchase, such as e-bikes, golf carts, etc?

  Coverage for these items will be based on carrier guidelines. Coverage may be offered under the home, or it may need to be written on a different policy. It’s important to review these purchased with you agent to ensure proper coverage.

• Do I need to inform you when I change my mortgage lender?

Yes! It’s very important to let us know when you’ve changed/refinanced your mortgage. If the policy is escrow billed, we want to make sure the bill is sent to the correct lender to be paid. If we do not update the lender, the new lender may not receive proof of your insurance and may place their own coverage on the home as well.

• If there is a flood, do I have coverage?

Standard home policies do not offer coverage for floods. Call your agent to discuss your options should you want flood coverage.

• What can I do to lower the cost of my premium?

Security features such as smoke and burglary alarms that are monitored, automatic water shut offs and water sensors, automatic generators and new roofs can all offer discounts on your home policy.

• I run a business out of my home, is that covered under my home policy?

Standard home policies do not cover home business. Your agent can review coverage options for your home business.

         Have more questions on your home insurance? Call Finlan today at 734-453-6000 and we can answer all your insurance questions!

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