Homeowner's Insurance - Alexander & Strunk Insurance

Since 1972, Alexander & Strunk has provided peace of mind by helping evaluate insurance needs for your most valuable asset: your home. We know homeowners insurance can be very complicated and we pride ourselves providing the highest level of personalized service in the industry.

Tips for saving money on your homeowners insurance:

Homeowners Insurance

Homeowners insurance is not provided just for the owners of a single family occupied dwelling. It is a broad policy that insures many different types living arrangements:

Homeowner's insurance

Your home typically is the single biggest investment you'll ever make. Homeowner's insurance has a terrific name because it focuses on you -- the homeowner -- not just the structure in which you live. Aside from protecting your home and your possessions, it provides you with liability coverage. As a general rule, buy homeowner's insurance that covers as broad a range of catastrophes as possible and most types of losses.

Condominiums and co-operatives offer a lifestyle choice that's attractive to tens of millions of Americans. But condos also have special issues, because there are some shared responsibilities with other individuals and/or companies. Condominium homeowner's insurance is specifically tailored to those issues.

Renter's insurance

Don't think you get to avoid insurance if you rent your house, apartment or loft rather than owning it. Renter's insurance protects the valuables you own inside your dwelling -- everything from your clothes to your stereo to your furniture. It's a relatively small expense for high peace of mind.

Rental/Landlord Property insurance

Rental Property insurance is for owners (landlord) of property (condo or house) that is rented to someone else (tenant). It typically only covers the structure itself because the belongings in the house typically are not the property of the landlord. However, some rental property is furnished and/or includes appliances that would not be considered part of the structure. In this case a nominal amount of contents insurance is needed.

Types of Coverage*

Homeowners insurance is broken down into five basic types of insurance. Brief definitions of coverages are shown below.

Dwelling Coverage

The amount of coverage on the structure itself. This covers everything from the slab to the roof that is attached to the structure. It is typically written on a "Replacement Cost" form. This means that the house should be insured to what it would could to rebuild not what its market value is.

The biggest misconception is that rising waters (floods) are covered under this insurance. If you need insurance for flood you will need to purchase that insurance in addition to this insurance.

Also consider purchasing the sewer backup insurance typically $20 to $50 extra.

Other Structures

Insurance for structures not attached to the Dwelling. This includes but is not limited to fences, sheds, detached garage, etc. The standard amount offered is typically 10% of what the Dwelling insurance. The amount of insurance can be increased if needed.

Personal Property

Most policies offer an additional amount (typically 50% to 75% of what the Dwelling coverage is) for insurance to your personal belongings or contents. Be careful because their are limits for items such as jewelry, silver, guns, furs, and cash among other things. This amount of insurance can be increased if needed.

You should itemize articles such as jewelry , silverware, coins, furs, fine arts, guns, musical instruments & collectibles.

If you have an in-home business or business equipment at your house discuss this with us and we will advise you accordingly.

The standard amount for this insurance is 20% of the Dwelling coverage. If your house, condo, apartment, becomes unlivable because a covered claim occurs, this coverage will pay to your expenses at a comparable living situation up to the limits or one year whichever comes first. This amount of insurance can be increased if needed.

Medical Payments

To pay medical bills of others sustaining injuries on your property which your where not negligent. The limits range from $1,000 to $10,000.

This insures you for your negligence. It is a very complicated coverage therefore it is best to discuss any specific issues with us. The amount of coverage varies from $100,000 to $10,000,000.

A deductible applies to all the insurance mentioned expect Liability and Medical Payments.

*These definitions are not meant to be taken in place of your current policy language. Instead the definitions are meant to help guide you to what coverages are available on a homeowners insurance policy. Please consult your agent or your policy for the insurance coverage specifics.

In addition to the coverages listed above, you may want to consider purchasing a Flood insurance policy and/or comprehensive Umbrella Policy.

Home Insurance

Homeowners Insurance

Types of Coverage*