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Oakland, CA

Oakland-Customize your Homeowners Policy (PT2) with Brignole and Ghiri Insurance

BY: Your Name, Your Business

My name is Aaron Hichman with Brignole and Ghiri Insurance. We are a full line Property and Casualty Insurance Agency based out of Oakland, California, since 1925.

I want to continue discussing the Traveler’s Homeowner’s Policy and how we can customize coverages. Let’s continue with coverage F – Medical Payments to Others. Medical coverage pays for the medical bills of a person injured on the insured property. Medical coverage applies when a person is accidentally injured, and the claim is less than the maximum coverage limit; coverage F will come into play. Travelers offers medical coverage of $1,000, $2,000, $5,000, and $10,000.
The next coverage to discuss is Theft of jewelry, Watches, and Precious stones on a homeowners policy. Most policies will only give you $1500 on your jewelry. If you have any pieces over $1500, you usually have to schedule it on the policy or purchase a floater policy to get the jewelry covered. On a Travelers Homeowners Policy, you can customize the coverage with $1500, $3000, or $5,000. The big takeaway here is to take careful inventory of all your personal property to ensure you have the right amount of coverage.
The next coverage I want to discuss is Additional Replacement Cost or Extended Replacement Cost coverage. Extended replacement cost refers to an insurance policy that usually provides a benefit over and above the policy’s limits for replacing a damaged house. Most homeowner’s policies will only give you 25% additional replacement cost. Let’s say you have a limit of Insurance on Coverage A, Replacement Cost, at 1 million dollars. If you have a 25% additional replacement cost, your dwelling limit would increase to 1.25 million dollars of coverage. We can customize a Traveler’s Homeowner’s Policy to 25%, 50%, or 100% of additional Replacement Cost. We like to start at 50% Additional Replacement Cost, which gives you 1.5 million, or you can increase to 100% with a Travelers Homeowners Policy giving you 2 million replacement cost on your home.

Last but not least, let’s discuss Ordinance or Law coverage. Ordinance or Law Coverage is coverage for loss caused by enforcement of ordinances or laws regulating construction and repair of damaged buildings. Older structures that are damaged may need to be upgraded electrical, heating, ventilating, and air-conditioning (HVAC); and plumbing units based on city codes. If you have a loss, the insurance companies will only pay for the home as it was before the time of loss. They will not pay for upgrades or any code requirements when it is time to rebuild. Ordinance or Law coverage is where you would find coverage to bring your home up to code. Travelers Homeowners Policy can you up to 100% of additional coverage.

I hope you enjoyed today’s video on Travels and homeowners insurance. If you are interested in getting a homeowners quote, please call Aaron Hichman at 510-653-0685.

“Best Insurance Company in Oakland, CA”

Top Rated Local Personal & Commercial Insurance Company / Agency

East Bay Area: Oakland, , , , , CA

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“Best Insurance Company in Oakland, CA”

Top Rated Local Personal & Commercial Insurance Company / Agency

East Bay Area: Oakland, , , , , CA

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Oakland-Customize your Homeowners Policy (PT2) with Brignole and Ghiri Insurance