Personal Lines - Homeowners, Auto, Umbrella
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Product Summary
Homeowners insurance provides property coverage for your house and personal belongings and also protects the owners and residents from liability claims.
The Personal Auto policy protects the vehicle owner and /or driver for legal liability arising out of the operation of the vehicle. The policy can also cover physical damage to the insured vehicle.
Personal Umbrella insurance provides additional limits in excess of the liability limits on the Homeowners and Personal Auto policies.
What's Covered?
The Homeowners property insurance section covers your dwelling, garage, and personal belongings. Generally, the property coverage is valued on replacement cost basis. Typical covered perils include fire, lightning, windstorm, hail, explosion, vandalism, and theft. High-value and/or unique items, such as jewelry and musical instruments, are often insured for a specific stated value (generally based on an appraisal).
The Personal Liability section of a Homeowners policy covers the payment of damages and defense costs for which the homeowner (and household residents) is legally liable because of bodily injury or property damage arising out of the insured’s premises or personal activities. The Medical Payments to Others section of the policy covers medical expenses incurred by persons (other than the insureds) for injuries caused by the premises or an insured’s actions, regardless of legal liability.
The Personal Auto policy covers the liabilities arising from an accident that causes bodily injury or property damage to a third party. Physical damage to the insured vehicle is covered by the Comprehensive and Collision coverages, subject to deductibles. The policy also provides Medical Payments coverage for a third party’s injuries for which the insured has no legal liability.
A Personal Umbrella policy limit applies excess of the liability limits of the Homeowners and/or Personal Auto policies. If a covered liability loss exceeds the primary auto limit, the Umbrella policy will pay the balance of the loss, up to the Umbrella’s limit.
What Affects the Cost of the Policy?
The replacement cost value, type of construction, and geographic location of your home greatly impacts the Homeowners policy premium. You can qualify for Homeowners premium discounts by having a fire alarm, smoke detectors, etc.
More expensive vehicles will cost more to insure. Also, vehicles that are popular with auto thieves will carry a premium surcharge. Higher deductibles will lower the premium cost.