Your house or condo is so much more than a roof over your head. It’s a home to everything you value. That’s why Haylor, Freyer & Coon provides a comprehensive offering of homeowners policies to protect you today and for years to come. In other words, even as home prices, construction costs, and the value of your possessions fluctuate, our commitment to providing the exact home insurance you need does not.
A Basic Home Liability Insurance Policy May Include:
Building Property Coverage – Covers losses or damage to the dwelling
Personal Property Coverage – Covers for loss or damage to your personal items up to a certain limit
Other Structures – Other structures on the property not attached to the home
Additional Living Expenses – Provides relocation or housing assistance in the event your home is damaged and becomes uninhabitable
Personal Liability – Protection from damages or injuries associated when you or someone in your household injures other people or property
Reasons We Recommend Supplemental Coverage
Flood Coverage – Coverage for loss or damages as a result of a flood
Water Backup – Coverage for when there is water damage as a result of a backed up drain or sump pump
Service Line Coverage – Coverage for pipes and wiring that come into the property that become damaged
Personal Injury Coverage – Broad coverage for when you injure or damamge someone or their property.(i.e., libel, slander, wrongful detention, mental injury, emotional distress)
Valuables Coverage – Coverage may be limited on any loss or damage to your valuable items
Home Coverage Explained
Important Note: Everything listed on this page is meant as general information and the generalized policy descriptions are designed to help you understand the different coverage types. These guidelines and descriptions do not refer to any specific contract of insurance, carrier, or terms of service. They do not modify any definitions, exclusions, or any other provisions that are directly stated in any contract of insurance. We highly recommend that you speak with your insurance advisor and review your policy fully to understand your coverage.
Know Your Coverage*: Replacement Cost Value & Actual Cash Value
Ensure that your house and its contents are covered at Replacement Cost Value and not at Actual Cash Value, so that in the event of a loss, you will be able to get a full replacement.
Replacement Cost Value (RCV) is the cost to replace a part of a building that is damaged (without depreciation).
Actual Cash Value (ACV) is the Replacement Cost Value at the time of loss, minus the value of its physical depreciation (age, wear & tear).
If you have a home with a value of $200,000 and you have $180,000 of flood coverage (this could represent your mortgage remainder amount), your loss settlement would be at Replacement Cost Value. If instead, you only purchase $100,000 of flood coverage, your loss reimbursement would be at Actual Cash Value, because you only had 50% coverage of your home’s value.
*Not applicable to all insurers and policies.
Home Insurance – Frequently Asked Questions
Does my home insurance cover flooding?
Flooding is not covered under home policies. You would need a flood insurance policy for coverage.
Does my home insurance cover break-ins/burglary?
Yes, burglary & break-ins are covered.
Does my homeowners policy cover collections/valuable articles?
Unless valuable items are specifically scheduled, you may not receive a full reimbursement for them. See valuable articles insurance for more information.
Find out how you can benefit from Haylor’s wide range of insurance products and risk management solutions today! Call or contact us to schedule a complimentary review of your current insurance portfolio!
The dedication of the Haylor, Freyer, & Coon staff are of the best we have had in the over 32 years I have been with the town. They are thorough and respond in a timely manner. Our salesperson always makes...... Read More »
-Ed Fairbrother, Town of Big Flats Town Supervisor