Home insurance

Home Insurance - Farmers Insurance Group

Details
Category: Home
Published on Friday, 16 July 2010 07:29

farmer-insurance-group-homeFarmers® knows what matters to you most. That's why we specialize in providing home, condominium, and renter insurance policies based on your specific needs. Browse our Home section to learn more about how Farmers can help protect everything you've worked so hard to achieve.

Why do I need homeowners, condominium, or renter insurance?
Insurance can help you with your peace of mind, knowing that in the event of a covered loss, your damaged home will be rebuilt and your destroyed belongings will be replaced. Types of coverages include:*

  • Dwellings and other structures - For most of us, our home is the single largest investment we will make. Homeowners insurance provides coverage for damage to your home and other structures on your property such as a shed or detached garage. For townhouse owners, your townhouse and separate structures are covered for almost any type of damages except for a few common exclusions, such as wear and tear, earth movement, flood, nuclear hazard and earthquake.
  • Dwelling Improvements, Alterations, and Additions - Condominium owners are covered for accidental damage to improvements you make in your unit for which your association's policy does not provide coverage, subject to your condo insurance policy limits.
  • Loss assessment - Condominium owners will also receive up to $1,500 for assessments arising from covered damage. This can be used to pay for your share of property damage or injury awards for which your association's policy does not provide coverage. Typically, up to $50,000 is available, but this may vary depending on your policy.
  • Personal Property - Homeowners, condominium, or renters insurance also provides coverage for your household contents and personal belongings. You may think your couch, coffee table, sweaters, shoes, coats, TV, VCR and CD player aren't worth a lot, but those items all add up when you have to replace them.
  • Personal Liability - Finally, in the event someone is injured on your property or you damage property that belongs to others, you could be held legally liable for the injury or damage. A homeowner, condominium or renter policy provides liability coverage and personal property insurance should this ever occur.

*Only up to the limits of the insurance coverages purchased.

What if I don't have insurance?
Without insurance, you'll be responsible for protecting your property, possessions and liability exposure.

For instance, if your house burns down or is destroyed by a tornado, you'll need to rebuild your home and replace all your damaged possessions with only the funds you have or can obtain. Do you usually have $500,000 readily available in case something like this happens? If so, could you be putting that money to better use instead of having it sit there just in case something happens?

Something else to consider: if someone is injured on your property, they may sue you for injuries and damages they sustain which may be well beyond $1,000,000. Without insurance, you may have to liquidate your assets and even lose a portion of your wages if you need to pay for a judgment.

 

Homeowners Insurance Coverage

Your home is like no other. And Farmers homeowners policies were designed with homeowners like you in mind, offering the coverages you want that may help you with your peace of mind. Your house, personal property and separate structures (such as a detached garage) are covered for many of the everyday risks you face as a homeowner.

In addition, as a Farmers customer you have access to HelpPoint®, a unique claims service that has been recognized by JD Power three years in a row for providing an "outstanding customer service experience." You can call HelpPoint for immediate assistance, 24/7, free of charge.

Best of all, you get a Farmers agent who is personal, local, and knowledgeable. This professional can answer your questions about the policy and its coverages, discounts you may qualify for and deductibles you may choose. Most importantly, your Farmers agent can help you in your selection of coverages that fits your needs.

Standard Coverage:
Property: Your Home

  • Coverage for many types of damage and for many causes of loss or damage (subject to exclusions) to your home and separate structures, such as a detached garage.
  • Coverage for separate structures at a minimum of 10 percent of the limit of insurance you choose for your home (can be increased by endorsement).
  • Extended Replacement Cost coverage (can be increased up to 150 percent meaning that you may receive 50% above your dwelling limit in the event of a covered loss) is available in some states.

Property: Your Possessions

  • Coverage is based on a percentage of the limit of insurance you choose for your home.
  • Property is covered anywhere in the world.
  • Coverage is comprehensive, applying to many types of damage and many causes of loss or damage (subject to exclusions).
  • Contents Replacement Cost is included and pays for the cost of repair or replacement without deduction for depreciation.

Liability

  • Pays when you're legally liable for someone else's bodily injury or property damage resulting from an accident, negligent acts by you or qualified household members (on or off premises) and the acts of your pets.
  • Includes costs to resolve claims or defend lawsuits brought against you.

Medical Payments

  • Pays medical costs for people injured at your residence (other than residents of your household), regardless of liability.

Additional Living Expenses

  • Covers additional living expenses up to 24 months (depending on the policy type) if a covered loss makes your home unfit to live in.
  • Coverage is based on a percentage of the limit of insurance you choose for your home.
  • Includes loss of rental income for up to 12 months if a covered loss makes a portion of the home that is rented to others unfit to live in.

 

Optional Coverage: 

Scheduled Personal Property
Scheduled and unscheduled coverage of important valuables is available.

Identity Shield
State-of-the-art assistance in the resolution of identity theft events, advocacy services relating to the prevention of identity theft and replacement of certain important documents.

 

Condominium Insurance Coverage

Our Condominium policy offers excellent protection for your dwelling and property and can be tailored to meet your specific insurance needs. It provides coverage for damage to improvements, alterations or additions you make in your unit. It also provides coverage for your household contents and personal belongings.

Moreover, as a Farmers customer you have access to Farmers HelpPoint®, a unique claims service that has been recognized by JD Power three years in a row for providing an "outstanding customer service experience." You can call HelpPoint for immediate assistance, 24/7, free of charge.

Finally, you get a Farmers agent who can answer your questions about the policy and its coverages, discounts you may qualify for and deductibles you may choose. Most importantly, your Farmers agent can help you in your selection of coverages that fit your needs.

Standard Coverage:
Property: Your Condo

  • Dwelling Improvements, Alterations, and Additions - you are covered for accidental damage to improvements you make in your unit for which your association's policy does not provide coverage, subject to your condo insurance policy limits.

Property: Your Possessions

  • You choose the amount of coverage based on the property you own.
  • Personal property is covered anywhere in the world.
  • Coverage is on a named-peril basis, which means that only losses resulting from causes listed in the policy are covered (subject to exclusions).

Liability

  • Pays when you're legally liable for someone else's bodily injury or property damage resulting from an accident, negligent acts by you or qualified household members (on or off premises) and the acts of your pets.
  • Includes costs to resolve claims or defend lawsuits brought against you.
  • Association loss assessment.

Medical Payments

  • Pays medical costs for people injured at your residence (other than residents of your household), regardless of liability.

Additional Living Expenses

  • Covers additional living expenses if a covered loss makes your living quarters uninhabitable.
  • Coverage is based on a percentage of the amount of insurance you choose for your personal property.


Optional Coverage:
Scheduled Personal Property
Scheduled and unscheduled coverage of important valuables is available.

Replacement Cost
Contents replacement cost is available to pay for the cost of repairing or replacing lost or damaged items without deducting for their depreciation.

Identity ShieldSM
State-of-the-art assistance in the resolution of identity theft events, advocacy services relating to the prevention of identity theft and replacement of certain important documents.


Renters Insurance Coverage

At Farmers we realize that your belongings are just as important as a homeowner's belongings. Our renters policy provides coverage for your household contents and personal belongings.

Furthermore, in the event someone is injured at your place, you could be held legally liable for the injury. Our renters policy provides personal liability coverage should this ever occur.

As a Farmers customer you have access to HelpPoint, a unique claims service that has been recognized by JD Power three years in a row for providing an "outstanding customer service experience." You can call HelpPoint® for immediate assistance, 24/7, free of charge.

Best of all, you get a Farmers agent who can answer your questions about the policy and its coverages, discounts you may qualify for and deductibles you may choose. Most importantly, your Farmers agent can help you choose the coverage you want with flexible payment terms you can live with.

Standard Coverage:
Your Possessions

  • You choose the amount of coverage based on the property you own.
  • Personal property is covered anywhere in the world.
  • Coverage is on a named-peril basis, which means that only losses resulting from causes listed in the policy are covered (subject to exclusions).

Liability

  • Pays when you're legally liable for someone else's bodily injury or property damage resulting from an accident, negligent acts by you or qualified household members (on or off premises) and the acts of your pets.
  • Includes costs to resolve claims or defend lawsuits brought against you.

Medical Payments

  • Pays medical costs for people injured at your residence (other than residents of your household), regardless of liability.

Additional Living Expenses

  • Covers additional living expenses if a covered loss makes your living quarters uninhabitable.
  • Coverage is based on a percentage of the amount of insurance you choose for your personal property.

 

Optional Coverage:
Scheduled Personal Property
Scheduled and unscheduled coverage of important valuables is available.

Replacement Cost
Contents replacement cost is available to pay for the cost of repairing or replacing lost or damaged items without deducting for their depreciation.

Identity ShieldSM
State-of-the-art assistance in the resolution of identity theft events, advocacy services relating to the prevention of identity theft and replacement of certain important documents.

 

Mobile & Manufactured

Farmers offers Mobile and Manufactured Home insurance through Foremost®, the nation's leader in insuring mobile and manufactured homes. With over 50 years experience insuring mobile homes, you can rest assured knowing your Foremost Mobile or Manufactured Home policy gets you access to the nation's most experienced team of mobile home professionals.

 

Specialty Home

Farmers offers Specialty Home insurance through Foremost®, the nation's leader in specialty home insurance. Foremost Specialty Insurance is designed for homes that don't qualify for "standard" or "preferred" homeowners coverage, such as:

  • Older and lower-value homes
  • Landlord/rental properties
  • Seasonal/Vacation Homes
  • Applicants with credit and/or loss problems
  • And more!

 

Earthquake Insurance Coverage

Most homeowners policies do not cover earthquake insurance or earth movement. However, earthquake coverage is an available coverage in most states. Find out the facts, and then see your Farmers agent for earthquake insurance.

The Facts:

  • Rates for earthquake insurance can vary significantly. In earthquake prone areas, the cost of this insurance is relatively high. In other areas, it is relatively inexpensive.
  • In California, earthquake insurance is handled by an independent organization. In California, California Earthquake Authority (CEA) coverage is available through your Farmers agent.

 

Flood Insurance Coverage

It only takes a few inches of water, and your home could need major repairs. Yet most homeowner's policies don't cover flooding. Find out the facts, and then see your Farmers agent for flood insurance.

The Facts:

  • Many are at risk for floods. You don't need to live near water to be flooded. Floods are caused by storms, melting snow, hurricanes, and water backup due to inadequate or overloaded drainage systems.
  • Flood damage is not covered by homeowner's policies. You can protect your home, business, and belongings with flood insurance from Farmers -- up to $250,000 for the building and $100,000 for contents (amounts may vary. Contact your Farmers agent for details).
  • Contents coverage is separate, so renters can get flood insurance. Up to $100,000 contents coverage is available for homeowners and renters. Contents are not automatically included with the building coverage.
  • Up to a total of $1 million of flood insurance coverage is available for non-residential buildings and contents. Up to $500,000 of coverage is available for non-residential buildings and up to $500,000 of coverage for their contents.
  • There is usually a 30-day waiting period before the coverage goes into effect. Plan ahead so you're not caught without flood insurance when a flood threatens your home or business.
  • Federal disaster assistance is not the answer. Federal disaster assistance is only available if the President declares a disaster. Flood insurance pays even if a disaster is not declared.

Farmers Identity ShieldSM

We are proud to offer Farmers Identity ShieldSM. This coverage can be added to your policy by endorsement providing coverage for losses due to identity theft; credit and public records monitoring, and identity or travel documents replacement.

With identity theft becoming more common and costly, having Farmers Identity Shield may give you some peace of mind for only pennies a day.

Identity Theft Facts
Identity theft is the fastest growing crime in the U.S. It has been listed as the #1 consumer complaint for seven consecutive years. The crime can be devastating, and is often costly and time-consuming to resolve. According to the Federal Trade Commission:

  • Losses stemming from ID theft total more than $56 Billion annually.
  • Out-of-pocket expenses for victims are increasing.
  • The average victim takes 175 hours to restore their lives after identity theft.
  • There are 27,000 new victims of identity theft daily.

Identity theft has become so prevalent that most people, if not victims themselves, know someone who has been a victim. Farmers Identity Shield is a comprehensive solution that can help you safeguard your good name.

Features
Below are some of the features of Farmers Identity Shield that will help you fight the ever increasing threat of identity theft.

Coverage:

  • $28,500 expenses
  • $1,500 indemnity

Credit monitoring:

  • Monitoring of credit files as well as publicly accessible records for fraudulent activity, for two people
  • Annual identity report with details of the customer’s credit file and public records

Victims of identity theft or those who suspect they may be victims receive:

  • Identity resolution services for the entire household
  • 24/7 access to an advocate at Identity 911® to guide the victim through the identity recovery process
  • Preparation of correspondence necessary to notify all relevant parties of the fraud (credit bureaus, financial institutions, etc.)
  • Creation and maintenance of a case file of all phone calls, documents and results
  • Assistance in placing fraud alerts and security freezes with credit bureaus

Even if you are not a victim of identity theft:

  • Professional on call to answer questions regarding identity safety concerns
  • Assistance in replacing lost, stolen or damaged identification documents (birth certificate, passport, etc.)
  • E-mail tips and news to help prevent identity theft
  • Access to Farmers’ informative Web site FarmersIdentityShield.com.

Farmers Identity Shield also provides specialized services for military members, families with children and those who have lost a spouse. It also provides unique services for those traveling abroad.

Price

  • The Farmers Identity Shield is at most $65 a year.
  • This works out to less than 18 cents a day.

With so much coverage and so many services included for pennies a day, Farmers Identity Shield is a phenomenal value. More importantly, it may help provide you some peace of mind during a time when identity theft can happen to anyone.

Note: Because Farmers Identity Shield is an endorsement, you will need to have an underlying Farmers Homeowners or Renters policy.

Frequently Asked Questions
What is identity theft?
Any theft or unauthorized use of your identity, personal information or financial information qualifies as identity fraud. You are at risk of becoming a victim of identity theft if your wallet has been lost or stolen, or if your home or car has been burglarized. If you notice unusual charges on your statements or receive unexpected bills, you may be a victim of identity theft.

Who is covered by Farmers Identity Shield?
This endorsement provides coverage for everyone in the insured household, including dependent students away at school.

How is my policy affected by an identity theft related claim?
Your policy is not affected in any way. Your premium will not be increased as a result of an identity theft claim.

Where can I get more information?
Your local Farmers Agent will have additional details on Farmers Identity Shield and can also add the endorsement to your policy.Back to Top

Security Tips
Identity theft can hit you no matter where you live or what your income. Know how to protect yourself:

  • Do not carry your Social Security card in your wallet
  • Use online bill pay and e-bills to reduce the amount of sensitive data in your mail
  • Use a secure locking mailbox or a post office box
  • Shred with a crosscut shredder anything that contains your name, address, or other sensitive data before discarding
  • Never write your Social Security number on your checks

 

Source: Farmers Insurance Group