We are here for all of your insurance questions!
Here are some common ones:
Q: Is hazard insurance the same as homeowners insurance?
A: Hazard insurance is part of your homeowners policy and does not need to be purchased separately. Hazard insurance covers the dwelling from roof to foundation, but not your home’s contents.
Q: What is and isn’t typically covered under a home & property claim
A: Be sure to check your policy or ask your agent what your policy covers.
Roof damage
- Typically covered: wind (includes damage to the roof caused by a downed tree), hail, fire and lightning.
- Not typically covered: wear and tear, rot, deterioration, and workmanship (improper installation/repairs).
Water damage
- Typically covered: abruptly leaking from a pipe inside the home, frozen/burst pipe (if reasonable care is used), water backing-up through a sewer or drain (with Back-up of Sewer or Drain endorsement) and water damage to your home caused by ice dams.
- Not typically covered: losses caused by flood, subsurface water, surface water, water backing-up through a sewer or drain (without endorsement), overflow of a body of water, spray from any of these whether driven by wind or not, frozen and burst pipes if reasonable care to maintain heat did not occur.
Stolen property
- Typically covered: items lost by theft such as jewelry, electronics, silverware, goldware and rugs.
- Not typically covered: animals, birds and fish.
Q: Are sheds or detached garages covered by home insurance?
A: Garages, whether attached or not, typically are covered by a homeowners insurance policy. This generally includes detached garages, sheds, greenhouses, barns, shops, and gazebos. It may also include driveways, fences, or an existing dock.
Q: What’s the difference between market value and replacement cost?
A: Market Value: The amount a buyer would pay for a home, including the land, regardless of how much it would cost to rebuild the home.
Replacement Cost: Replacement cost is the cost necessary to repair or replace your entire home.
Q: What discounts are available for home insurance?
A: Bundle and save – purchase various insurance policies from State Farm, you could be eligible for auto and home insurance premium discounts and savings.
Home security insurance discount – if you have installed fire, smoke, or burglar alarms or any other eligible home monitoring system known as a protective device
Roofing discounts – certain impact resistant roofing products, like hail resistant shingles or class 4 shingles.
Lastly, you may be eligible for a discount if you haven’t filed a claim in a number of years, typically within the past three to five years.
Stop by our location in downtown Chanhassen to review your insurance questions!
