Home Insurance

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Home Insurance

Rossbacher Insurance Service believes it is our obligation to offer this review and we believe it should be important to protecting your home and your family.  Not all insurance policies are the same and we want you to understand the protection that you currently carry or may be without:

Basic Policy

Dwelling Limit: the calculated reconstruction estimate of your home.  Different than the “selling” appraisal, this protection must be written with complete reconstruction values as calculated in an emergency catastrophic situation.  It is imperative that this reconstruction limit be sufficient for proper claim payment on dwellings as well as the following two coverage limits.

Other Structures: this limit offers coverage for detached outbuildings or other detached structures.  The basic limit is automatically included in the basic home policy and it is a percentage of your dwelling reconstruction limit; however higher limits are available.

Personal Property: this limit offers coverage for personal belongings.  The basic limit is automatically included in the home policy and is a percentage of your dwelling limit; however higher limits and “specialty items” such as jewelry, art, collectibles, antiques, etc. may be added.  It is important that you carry “replacement cost new” versus a depreciated claim payment.

Property Deductible: typical options are $500, $1000 or higher.  Given possible “claim surcharges”, we recommend a deductible of $500 or higher; which offers a premium savings.

Family Liability: protection and defense for common covered lawsuits both at home and away.  This liability protection covers damages or injuries caused by you such as slip & fall liabilities, sporting activities (hunting), and injuries or damages caused by children.  We recommend a minimum of $300,000 protection with greater limits available.

Optional Endorsements

Replacement Cost: this is a standard coverage that we include in all new policies unless otherwise noted.  It offers claim payments with “new” replacement values for “old” or depreciated damages.  For example, if your tv, computer, stereo, or appliances are damaged by a covered event (lightning), this endorsement offers the value of new comparable items versus a very minimal depreciated payment for these old items.  This emphasizes the necessity to have an accurate replacement or reconstruction value on your dwelling and contents.

Sewer & Drain Back-Up: an optional coverage; which protects your home and contents from a sewer or drain back-up claim.  This is one of our most common sources of insurance claims.

Identity Recovery Coverage: now available as an optional coverage for about $25; this endorsement will assist with the paperwork and fees associated with restoring your identity after it is stolen.  Whether canceling credit cards, filing new loan documents, canceling checks, ordering credit reports, or other time intensive procedures, this coverage assists with the process and the associated fees.

Earthquake & Flood: Although we have not had an earthquake claim, our area has experienced earthquakes and we recommend considering this inexpensive optional coverage.  Flood coverage is available as a separate policy; which is underwritten by the National Flood Insurance Program.

Recreational Vehicles: optional liability for ATVs, snowmobiles, golfcarts, boats, dirtbikes, etc.  If you own or purchase a recreational vehicle, you must notify us so that we can offer vehicle physical damage and vital liability protection for injuries or damages that you may cause.

Siding/Roof Restoration Coverage: optional protection is available to replace some of the undamaged portions of the siding or shingles on a home, in order to visibly match any damaged areas that are to be replaced and the existing material is obsolete.  This added coverage avoids any visible “patching” repairs of damaged areas where existing material has faded or obsolete.

Specialty Collector’s Items: optional limits of coverage are available beyond the minimal coverage in the standard policy.  Sample specialty items with limited coverage are jewelry, art, and collectibles such as stamps, coins, guns, Hummel figurines, etc.

Temporary or New Locations: in some instances your basic policy may offer coverage for additional locations or an endorsement may be necessary; however you should always consult our office if you purchase, lease, or conduct any home renovations or additional locations such as a cottage, hunting camp, vacant land, building lot, storage facility, apartment, dorm, etc.

Business Pursuits: the basic home policy excludes all coverage and protection for any business activity, both property and liability.  Optional coverage may be available.

Umbrella Liability: higher protection of liability lawsuits for bodily injuries and property damage are available with “umbrella” protection.  In today’s litigious society, we recommend considering greater limits of liability protection.  Many of our clients have personal catastrophe liability policies ranging from additional protection limits of $1,000,000 to $5,000,000.

Mortgage Protection: optional mortgage liability protection for disability and death.

Claim Surcharge Factors: although coverage may be available for minor claims, due to severe claim surcharge factors, you should consult our office to review your options with.