What does a homeowner insurance policy cover?
Homeowner insurance covers damage from incidents such as fire, theft, and vandalism to your house, adjacent structures like a garage or shed, and your personal belongings. It covers living expenses if your house becomes temporarily unusable, and liability in case you or a member of your household injures someone or damages their property.
Do I have an adequate amount of dwelling coverage on my policy?
You are properly covered if your policy's value is enough for you to rebuild your house if you had a total loss. Since the replacement cost of your house can vary over time because of inflation, the costs of labor and building materials, and renovations you may make to your home, you should review your coverage every few years. Your Liberty Mutual representative can help with this review.
May I change the amount of coverage on my personal belongings?
Yes. Your coverage limit for personal property is usually 50% of your dwelling coverage amount. This amount may be increased or decreased based on your personal needs as well as your state's requirements.
Are any items in my home not covered by my policy?
Most items are covered up to stated limits for covered perils like theft or fire. However some items including money, securities, watercraft, trailers, grave markers, and guns, have coverage limits. If you lose a bracelet or drop a vase, that loss would not be covered unless the item was specifically insured or scheduled. Damage to your personal belongings that is caused by pets is not covered. Your Liberty Mutual representative can advise you of your policy's specific coverage limits.
Is there a limit on coverage for my silverware or other valuables?
In most states the base policy provides coverage up to $2,500 for silverware and $1,000 for jewelry for loss by theft. If you need more coverage, you should consider scheduling the items.
If I conduct business at home, is my business property covered by my homeowner policy?
Your policy provides coverage of up to $2,500 for property located on the residence premises which is related to your business. The limit for such property located away from the residence premises is $250.
How can I insure special items?
By "scheduling" an item in your policy you obtain broader coverage, no matter how a loss occurs. When you schedule items like jewelry, silverware, photographic equipment, or antiques, you specifically describe and insure them, and pay an additional premium, depending on the amount of coverage you want.
What if my pipes burst?
You are covered up to your policy's limits for that damage, and for any additional damage done in the course of repairing the system. Coverage does not include the cost of repairing or replacing the system itself unless the damage was caused by freezing. Only water damage that is sudden and accidental is covered, so your policy would not cover damage from a slow leak, for example.
What if my pipes freeze?
You are covered for resulting damage to your home and belongings, as well as for damage to the plumbing or heating system. If the damage occurs when your home is vacant, you are covered as long as you have taken the necessary precautions to keep the building heated or have had the water turned off and the plumbing and heating systems drained.
What coverage do I have for damage from vandalism or malicious mischief?
You are covered up to your policy's limits unless your house was vacant for 30 or more consecutive days preceding the incident. Your policy does not cover loss caused by vandalism and malicious mischief if the dwelling has been vacant for more than 30 consecutive days immediately before the loss.
What if I am away from home (which still contains personal belongings) for more than 30 days?
Coverage for damage to the dwelling and contents will apply up to the limits in the policy. The house is unoccupied, but it is not vacant.
What's my coverage if someone has an injury on my property?
Most policies have no coverage for injuries you or household members sustain on your property.
The liability portion of your policy covers any injury to a neighbor or visitor that you are legally liable for.
If my home is damaged, will my insurance cover living expenses while my home is being repaired?
If your house is damaged by a covered peril, your policy provides Loss of Use Coverage. This Coverage provides "Additional Living Expenses" over and above your normal living costs. The coverage amount is usually 20 percent of the coverage on your home. For example, if you have $100,000 coverage on your home, you would have $20,000 of Loss of Use Coverage.
Am I covered if a windstorm damages trees in my yard?
Coverage is NOT provided to replace the cost of trees in your yard damaged by a windstorm. However, if a fallen tree damages a covered structure on the property your policy covers up to $500 to have the tree removed.
Does my policy cover removal of debris from my property?
Yes, your policy provides for removal of debris from your covered property resulting from a covered loss.
Do I need to contact Liberty Mutual if I'm moving?
Yes, contact Liberty Mutual prior to your move to make sure you are fully covered in your new home.
What information do I need to get a homeowners policy?
Liberty Mutual representative will ask you a series of questions to determine the appropriate level of coverage you should carry. Questions will address square footage, age of the house, number of rooms, construction type and material (siding, brick or stone), and type of roof. If you are purchasing a home, most of this information can be found in the inspection report.
What else impacts my homeowners premium other than the size of the home itself?
Property insurance price is made up of many factors including protective devices such as smoke or burglar alarms, proximity to a fire station, and geographic location of your home. Contact a Liberty Mutual representative for more details and to obtain a quote for your home.