Homeowners Insurance tailored to YOUR needs!
Homeowners Insurance for your home in Lynn, Swampscott, Marblehead, Nahant, Peabody, Salem or anywhere in Massachusetts!
Your Home Is Your Largest Asset, Make Sure It’s Properly Protected
You have to ask yourself…
What would happen if a disaster struck your home tomorrow? Are you confident that your homeowners insurance will properly cover all damages up to and including a total loss? Would you be required to pay some or all the repairs out of pocket?
It is critical that you answer these questions now, not after disaster strikes—and that can happen at any time. More importantly, when you’re facing a crisis, you’ll feel less pressure knowing:
- That Farquhar & Black and you have taken the time to make sure you have the right protection.
- We are there to work with you to make sure you receive everything that you are due.
What is covered by a homeowners insurance policy?
Homeowners insurance covers your house, any outlying structures (garages, sheds etc.), your personal property and the loss of use of your home. When purchasing homeowners insurance, you want to make sure that your home is covered by a so-called special form. This was previously known as an ‘all-risk’ policy. No insurance policy covers everything, the special form covers any damage that occurs to your home unless it is specifically excluded. On the other hand, your personal property is usually covered for named perils only. This means that your policy will only cover the contents of your home if the damage that occurs is specifically listed – think, fire, theft, smoke damage, vandalism, riot and more. The main difference between the two – under the special form, the burden of proof is on the insurance company to show why a loss is not covered; under a named perils form the burden is on you to show why it is covered. While the homeowners named perils form is very broad, it is worth it to ask how much more will special coverage cost. The answer might surprise you.
The other major part of the homeowners policy is liability coverage.
A homeowners policy covers your personal liability exposures, to protect you from many situations that could lead to lawsuits from others. For instance, if someone slips and falls in your home, or is injured somewhere on your property, you can be held responsible. Liability coverage is there to protect you. $100,000 of coverage comes standard with the homeowners policy, usually, it costs less than $30 to increase that to $500,000.
When you see an independent insurance agent like Farquhar and Black Insurance Agency, you have the chance to explore all your options for insurance and protect the things that are most important to you.
Little known facts about Homeowners Insurance
When you insure your home, there are many issues that many consumers aren’t aware of. We are here to make sure you avoid potential problem areas, including:
- A standard Homeowners policy does not include coverage for flooding or earthquake.
- A standard homeowner policy only covers jewelry up to set limits and only if the loss results from one of the perils named on the policy.
- Most policies will not cover sewer back-up unless you purchase a special endorsement—it’s not expensive, but you won’t get it if you don’t ask for it
- Damages caused by surface water or water that flows below the surface of the ground aren’t usually covered
- Many policies default to actual cash value, which means if you purchased a widescreen TV and home theater system for $1,000, and it’s now only worth $450, that’s all you’ll receive on the claim. Just like the dwelling limit mentioned above, replacement cost insurance pays out the total replacement value of your possessions, not their market value, in the event of a claim.
Combine your Home and Auto policies (and others) for even more savings.
The Farquhar and Black Insurance Agency Difference
You may think you want the cheapest insurance you can find, but realize you may not be getting everything you bargained for…While most insurance products are similar in price and function, insurance providers are very different when it comes to structuring a policy that actually covers you. So if you’re at all concerned about your financial well being, you should investigate what you are offered carefully, and consider a relationship with a reliable guide.
There’s no such thing as a one-size-fits-all insurance policy.
We’re your neighbors. We protect people we know and care about in Marblehead, Lynn, Swampscott, Peabody, Nahant, Salem and all of Massachusetts. That means we are always looking for ways to protect you better, including carefully choosing the insurance companies we represent to be both affordable and responsive.