Property Insurance Protection

Home Insurance

In the situation where your home is damaged or destroyed, it's important that you have your claim settled by a reliable insurance agency. Bain Insurance Agency can assist you in finding the home insurance that best meets your needs and provides the most valuable combination of customized coverage, excellent service, and competitive pricing. If you live in a house, an apartment, or a condominium, the right home insurance policy will give you peace of mind while still providing the funds you need to fix or replace your home and/or belongings.

Renters Insurance

Your renters insurance protects your personal belongings from theft and damage, according to the restrictions and deductibles you choose. This ensures that even when you are not home, you are still full covered. You may opt to have full value coverage on your personal property for a small extra premium, which means that you will be charged the full repair cost of products that are destroyed or stolen without depreciation deduction. It also covers you and your family against liability lawsuits for personal injuries and property harm, as well as any litigation that might occur.

Landlord Protection Insurance

A rental property can be a wise investment, particularly if you safeguard your assets with proper insurance coverage. When selecting a landlord security insurance policy, make sure you and your property are protected. Landlord Protection liability insurance protects you and your spouse or against personal injury, wrongful eviction, wrongful entry, and other non-bodily injury claims.

Condo Insurance

Your condo insurance policy includes your personal belongings and liabilities, as well as any additions, modifications to your unit that are your responsibility under the condo association agreement. Optional loss appraisal compensation is also available to protect you from the association's future evaluations. If you have to vacate your condo due to a covered loss, you will be reimbursed for extra living expenses. Also, review your HOA agreement to see what is protected by the Association's policy. Your condo association will impose all owners to cover the deductible on their association policy if common areas are damaged.

Flood Protection

Building and contents insurance are both covered by flood insurance. The first covers your structure, while the second covers your belongings; however, neither covers the land they occupy. Replacement Cost Value (RCV) and Real Cash Value (ACV) are the two most popular compensation options for flood claims (ACV). The RCV is the price of repairing or replacing damaged property. It is reimbursable to owners of single-family primary residences protected up to 80% of the replacement cost of the home. ACV is extended to all other systems and personal property (i.e. contents). The ACV equals the RCV minus physical depreciation at the time of failure. The ACV is only used to value personal property.

Earthquake Insurance

If your house is destroyed by an earthquake, earthquake insurance will protect you. Earthquake damage is not protected by normal homeowner and renter policies. Earthquake insurance is a separate endorsement that must be purchased and added to your homeowner or renters insurance policy. Floods and tidal waves are usually excluded from earthquake endorsements, even though they are triggered or exacerbated by an earthquake. If you suffer a loss as a result of a landslide, settlement, mudslide, or the rising, sinking, and contracting of the earth, your endorsement may cover it if an earthquake caused the damage.