Insuring where you call home
When it comes to choosing a home and property insurance plan, The Resource Center will be there with you every step of the way. We partner with many insurance carriers to make sure you are getting the best coverage at the best price. Let us help you save big on your home and property insurance.
It’s your home. You should protect it with the best homeowner policy for you and your family. Our home insurance agents will walk you through these options and help you decide.
If you rent a house or apartment, your landlord’s insurance will only cover the costs of repairing the building if there is a fire or covered peril on their policy. You need your own coverage through renters insurance in order to financially protect yourself and your belongings. Renters insurance typically includes coverage for personal possessions, liability protection and additional living expenses.
It’s important to have enough renters insurance to replace all of your personal possessions in the event of a burglary, fire or other covered peril. The easiest way to determine the value of all your personal possessions—including furniture, clothing, electronics, appliances, kitchen utensils and even linens—is to create a home inventory. This is a detailed list of all of your personal possessions along with their estimated value. An up-to-date home inventory will also make filing an insurance claim faster and easier. Make sure to store your inventory list off-site or digitally.
Renters insurance provides liability protection that covers you against lawsuits for bodily injury or property damage done by you, your family members and even your pets. This coverage pays for both the cost of defending you in court and court awards—up to the limit of your policy. Most standard renters insurance policies will generally provide at least $100,000 of liability coverage, but additional amounts are available. Our professionals will help you decide whether the amount of liability coverage provided by your policy is sufficient to protect your assets.
If your home is destroyed by a peril that your policy covers and you need to live elsewhere, renters insurance provides additional living expenses (ALE). ALE pays for hotel bills, temporary rentals, restaurant meals and other expenses you incur while your home is being repaired or rebuilt. It is important to know about how much coverage you have and what the limits are. Some companies provide coverage for a set amount of time, while others have a financial cap.
Spend more time finding and serving quality renters and less time worrying about insurance protection.
While renters insurance protects your tenants and their belongings, Landlord insurance covers the cost of building repairs in the case of fire or other covered peril. Landlord insurance coverage typically includes property damage, liability, loss of income and other options.
Property insurance protects your buildings and personal property (appliances and carpeting) against damage caused by fire, storms, theft, vandalism or tenants. Landlord policies will also cover the replacement cost of your entire property in case of a total loss.
Liability insurance protects you against liability claims and lawsuits. If a tenant, visitor or trespasser is injured on your rental property, you may be liable for the costs of bodily injury claims. These may include medical bills, funeral expenses, legal fees and judgment or settlement costs. In other cases, you may be held responsible for another person’s property damage.
This insurance pays “rental reimbursement” to prevent you from losing income if you are unable to collect rent. This protects you if your rental property becomes uninhabitable due to a covered loss, including fire or storm damage.
In addition, you can buy additional coverage for your landlord policy. This may include rent guarantee insurance, employer liability insurance, or earthquake insurance. Extended liability coverage is available to protect LLC’s, LLP’s or property management companies.
Your bank will require insurance to protect its investment in your condo or co-op. You may, however, need more insurance to cover your personal items, liability or fees that may be charged to you regarding shared areas of the building, like the lobby. You will likely need two policies–an individual one and a “master policy” provided by the condo/co-op board.
This provides coverage for your personal possessions, structural improvements to your apartment and additional living expenses if you are the victim of fire, theft or other covered peril listed in your policy. You also get liability protection.
This policy will be provided by the condo/co-op board. This covers the common areas you share with others in your building like the roof, basement, elevator, boiler and walkways for both liability and physical damage.
The Resource Center can help you navigate through additional coverages that may be available to you. These additional coverages include unit assessment, water back-up, umbrella liability, flood or earthquake, and floater or endorsement coverage.
Umbrella policies, also known as excess liability policies, provide broader coverage than most policies. These policies allow for more liability coverage on your household. If someone gets hurt on your property or house, or if you’re in a car accident when the damages/injuries are over the coverage on your policy, umbrella policies will keep you covered. These are typically an extra $10/month.
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