Our motto at Chan Associates is “More Insurance For Your Dollar”. Before we got started in this business we used to think all insurance companies were the same. You know it is a once a year, or, for your auto, once every six month payment. And all you know was that if anything happened you wanted to make sure you were covered.
I would like to share with you that you do have options and many of them are pleasant surprises when you get the chance to get more coverage at a lower rate than you have been paying.We have helped many homeowners really save huge money or save some money and have a huge jump in their coverage. We are your Insurance Consultant. Your family has individual needs and your coverage should reflect those needs. Perhaps you are a business owner who has lots of assets to protect and you want to make sure your home, auto and possibly an umbrella take care of those needs. Or perhaps you are retired on a fixed income and struggling to make ends meet. Either way we will customize your policy to match those needs.
Did you know that in many cases and depending on your situation there are insurance policies available that have twice the coverage if your house was lost that give you extra coverage and many times cost less than you currently pay ?? “More insurance for your dollar.”
Homeowners Insurance
Every homeowner wants to protect the investment in their house. Most of the time when you order your homeowners insurance you might get a suggestion or two about the amount of coverage or on a new purchase your lender will want to make sure you have enough coverage to cover the loan. There are some other things to think about also. Most policies will have 20% - 25 % overage limited cost replacement coverage. That means if anything were to happen they will cover up to 20-25% over your limit under certain conditions. Well we have some of our policies which have up to 50% over the limit coverage. That is what we call “More insurance for your dollar.” Again you need to check your policy and certain restrictions might apply. However that is a heck of a lot more coverage and in many cases it is not unusual that our premium might be less than you are currently paying. One thing to keep in mind is that earthquake insurance is offered as a separate coverage and is not part of a standard homeowners policy. You can get special endorsements which cover different hazards or offer more coverage for most risks that you might want to cover.
What coverages are there in a Homeowners Policy?? With most carriers there are 4 parts to the basic coverage.
- 1. The Structure of the House. ( How much you are covered for to rebuild the house).
You always want to make sure to have enough coverage for rebuilding. During the recent wildfires there were several people who were underinsured for rebuilding the house – that sure causes problems when you go to rebuild.
- 2. Coverage for your personal belongings.
Coverage for your personal belongings. This includes furniture, clothes, TV’s, and your personal belongings. Remember on the basic policy there will be smaller limits for jewelry. If you want to insure particular items for more than the coverage that is not problem through what is called a Personal Article Floater.
- 3. Liability Protection.
This part of the coverage is designed to protect you against lawsuits for bodily injury or property damage. The liability portion of the coverage for most carriers will cover the cost of defending you in court and any court awards up to the limit of the coverage.
- 4. Additional Living Expenses.
When a major loss occurs and you are displaced from your house, this part of the policy pays for the cost of temporarily housing you in another location. Hotel Bills, restaurant meals in excess of what you would have spent, laundry that you have to send out are covered during the rebuilding process.