Home Insurance

Mandatory For:

Home/Condo Owners

Landlords

Bundled Savings With:

Auto / Umbrella / Toys / Floaters*

Optional For:

Renters

Promotional Discounts:

Yes

Home Insurance is a large label that encompasses all aspects of protecting everything in and around your home. Here is a breakdown of some of the main pieces that come together in the home insurance puzzle.

*Floaters : Policies for any high value item(s) over $1,500 that can be bundled for greater savings

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Living Room

Home Insurance

Coverage A

Dwelling Insurance

Image by Aubrey Odom

This is the cost the insurance carrier has determined it would cost to build your home if there was a complete loss. This is not the amount of the mortgage, especially in Colorado land has a high value.  If you experience a complete loss you do not lose your land, just the actual “dwelling.”

 
 
Coverage B
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Other structures – this is any structure that is not attached to your home but is on your land.  This would include things like a fence, a shed, or detached garage.

Coverage C

Personal Property Insurance

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this is all of your belongs that are in your home.  Think of taking out the windows in your home and turning it over and shaking it, anything that falls out is personal property.  This also includes your appliances.

 
Coverage D

Loss of Use Coverage

Hotel Bedroom Entrance

this is the amount of money the carrier will give you if your home suffers a loss and you are unable to live in it.  This includes things like additional funds to find a place to live (hotel, Air BNB or Extended Stay location), additional food expenses since you don’t have access to your stove and groceries.

Coverage E

Personal Liability Coverage

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this is money if you have a claim or are sued because someone thinks you caused them harm or property damage to their belongings due to a covered event.

Coverage F

Medical Payments to Others Coverage

Dental Tools in Pocket

Medical Payments to others (not living in the home) – this is covers injuries to someone on your property so they can seek medical help.  It is considered, the “will pay this and you promise not to sue” monies.

 
 
 
Coverage F

Medical Payments "to Others" Coverage

Medical form with stethoscope

Medical Payments to others (not living in the home) – this is covers injuries to someone on your property so they can seek medical help.  It is considered, the “will pay this and you promise not to sue” monies.

Optional Coverages (Endorsements)

While not legally required, these can be important.

Image by Catrin Johnson

Extended Replacement Endorsement

  • This allow an increase of dwelling coverage to account for inflation due to normal market changes as well as catastrophic events (such as a hail storm) that affects a large area near you. the cost of goods and labor all increase this is to assure that the insurance carrier can rebuild a duplicate of your current home.

Replacement for Personal Property Endorsement

  • This coverage assures that the items in your home are replaced at the cost to purchase today not what they are worth.  Example you have a 55 in TV that is 10 years old, it is worth about $100, but to replace that item today is $1000.  If you have Replacement for Personal Property coverage you would get the $1000.

Buried Service Line / Service Line Endorsement

  • Adds coverage to damaged Service Lines (Utility/Water/Sewer) if there is damage to these lines.

Personal Injury Endorsement

  • This coverage is additional coverage within you home owners policy should someone decide that you are liable for attacking their character (slander or defamation of character).

Water Backup & Sump Overflow Endorsement

  • This coverage is if there is damage due to over flow of sewage, drain or sump. This is different from flooding from a pipe and is not covered unless an Endorsement has been added.

Roof Settlement Type Coverage


Roof Settlement Type Coverage*  - It is important to understand how your roof is covered. 

 

There are generally 2 types:  

  1. Replacement cost which covers the total replacement of the roof.

  2. “Scheduled” Replacements which have a sliding scale based on the age of the roof. As the roof gets older the less the insurance carrier will pay to have it replace, leaving the home owner with a larger bill.

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*this is not an endorsement, it is just important to understand how your roof is covered.

 

Homeowners Coverage Self- Assessment

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Are you part of an HOA?
Have you remodeled in the last ten years?
Do you NOT have a number in writing within the last year that confirms the cost rebuild of a total home rebuild if it was entirely leveled and proof that your coverage matches that number?
Do you NOT have an inventory of your personal property value (again, that’s what would fall out of your house if it was flipped upside and shaken) done within in the last five years?
In the last two years have you had any large home purchases (i.e. a Jacuzzi, new bedroom or living room furniture set, or jewelry) that have been factored into your personal property value?
Are there any additions to your home that are on your property but are unattached to your main dwelling that have not been added to your insurance coverage?
Do you have any type of business where Clients or Customers come to your home for business reasons?
 

TESTIMONIALS

“AS A PROFESSIONAL WHO WORKS WITH PEOPLE IN TRANSITION, THERE IS NO BETTER PERSON I COULD REFER MY CLIENTS TO THAN TRACIE. SHE IS SOMEONE WHO INFORMS AND EDUCATES TO SECURE THE TRULY BEST OPTIONS FOR HER CLIENTS. AS IMPORTANT, SHE CARES ABOUT WHO THEY ARE AND WHERE ALL THE POTENTIAL IN WHERE THEY ARE HEADED. "

LESLIE GARSKE / MEDIATOR & CERTIFIED DIVORCE FINANCIAL ANALYST  / FOUNDER, GARSKE DIVORCE MEDIATION

“TRACIE EMBODIES EVERYTHING YOU WANT DONE WELL IN AN INSURANCE PROFESSIONAL. SHE'S INFORMED, EXPERIENCED, PROFESSIONAL, PROTECTIVE OF HER CLIENTS, AND ABSOLUTELY WILL NOT STOP UNTIL HER CLIENTS HAVE ARE FULLY PROTECTED IN THE MOST COST EFFECTIVE WAY. ANYONE WHO WORKS WITH TRACIE IS TRULY GETTING THE BEST OF THE BEST."

JEN M. / CLIENT

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