korean

Homeowners

  • If you have tangible assets, you need the protection of a homeowners insurance policy. These policies cover you in a home or an apartment, whether you are an owner or a renter. A well-written homeowners policy will pay to replace any of your personal property that is destroyed in a fire or other disaster. The policy will also be your first line of defense against a lawsuit from someone injured at your home.



    If your home were damaged or destroyed, insurance can help you repair or rebuild your home and replace damaged possessions.

    The main purpose of insurance is to protect you against losses you cannot afford. Few people have the financial resources to rebuild their homes.

    In addition to protecting your home and possessions, homeowners insurance also provides liability coverage to protect you from financial ruin if someone is injured on your property and sues for damages.

    A homeowners insurance policy consists of coverage for your dwelling and your personal property. It also includes liability insurance which pays for injuries to other people or damages to their property accidentally caused by you, your family or your pets.

    You also can buy several types of additional insurance for property that is not listed in your homeowners policy or for perils not covered ? such as flood ? for which you need a separate policy. You do this by either buying a separate policy or by adding an endorsement or rider to your policy.



    There are some simple steps you can take to reduce your homeowner's premiums.


    • Raise Your Deductible - A deductible is the amount you pay before the insurance starts to pay for your loss. Since the purpose of insurance is to pay for the losses you cannot afford, raise your deductible to a limit that you could handle in case of a loss.
    • New Home - If your home is less than 10 years old, you may be eligible for a new home discount.
    • Make Your Home Safer - You may be eligible for a discount if you have a burglar and fire alarms systems and/or sprinkler systems. Monitored systems will earn a bigger discount than unmonitored systems.
    • Construction Material - When you buy a home, look for fire-resistant construction, such as brick, masonry or rock. You may pay a lower premium for hail-resistant roofs, such as those made of concrete tile, while wood roofs may bring a surcharge. Check the location of the nearest fire department, and avoid buying in floodprone areas.
    • Non-Smoker Discounts - Check with us to find out if this discount is available.



    Condo Insurance

    Condominium insurance provides coverage for your unit where your condominium association insurance stops. Your association typically insures the building and other common areas. You are responsible for the interior of your unit. Typically you need personal property and liability coverage in addition to coverage for your floors, walls, cabinets and fixtures that your association's insurance probably will not cover.



    Renters Insurance

    If you live in a rented house or an apartment, renters insurance provides important coverage for both you and your possessions. In case your house or apartment is broken into, destroyed by a fire, or perhaps a friend gets injured at your home, renters insurance provides financial protection for you and your family. It pays for the repair and replacement of lost items as well as any liability issues you may be responsible for.



    Earthquake Insurance

    Most standard homeowners, mobile homeowners, condominium, and renters insurance policies do not cover earthquake damage. Similar to flood insurance, earthquake insurance usually must be purchased separately.



    Flood Insurance

    Did you know that your homeowner's insurance does not cover flood damage? Insurance against flood must be obtained separately. A flood insurance policy also reimburses you for the work that you and other family members did to sandbag your homes, move furniture and remove debris. The Federal Emergency Management Agency's (FEMA) maps are important when it comes to flood insurance because if they show that your home sits in a 100-year flood plain, you must buy federal flood insurance in order to get a mortgage. If you live outside a high-risk zone, or if you no longer have a mortgage, flood insurance is optional.



    Umbrella

    You don't have to be a millionaire to be sued like one. Million-dollar judgments against individuals for negligence are still relatively rare. However, receiving a lawsuit with a million-dollar demand is more common. If you receive such a court summons and you have only $100,000 of coverage, you may lose a lot of sleep.

    Umbrella policies offer inexpensive "peace of mind" for most types of negligence claims. Automobile accidents are probably the most common source of serious claims. This policy supplements your basic automobile liability with extra million-dollar layers of protection. It also covers other types of catastrophic claims such as a neighbor's child drowning in your pool or the delivery man being seriously injured by falling over your child's toys.



    Mobile (Manufactured) Home Insurance

    Mobile home or manufactured home insurance not only covers your mobile home; it can also cover:

    • Detached structures on your property, such as a carport or garage
    • Your personal belongings
    • Living expenses if your home is seriously damaged by a covered loss
    • Injuries that might occur on your property



    Motorcycle Insurance

    Motorcycle insurance is a way of sharing the risks of riding between you and your insurance company. The way it works is simple. You pay a set premium to an insurance company for coverage. In return, the company promises to pay for specific financial losses that might occur during the term of the policy.



    Boat Insurance

    Boat or Marine insurance is available for small boats, yachts, high-performance powerboats, live-aboard houseboats, catamarans, or pontoons. Marine insurance will cover intended use including personal recreation, commercial, or charter vessels.



    Valuable Items Insurance

    Your possessions may be more valuable than you realize. Most homeowners policies offer limited coverage for personal articles such as jewelry, cameras, golf equipment, fine art and collectibles, and computer equipment. We can provide the additional protection you need with a comprehensive valuable items insurance policy.

    A variety of property may be covered by valuable items coverage.

    • Artwork
    • Baseball cards
    • Books
    • Coins
    • Firearms
    • Furs
    • Jewelry
    • Memorabilia
    • Musical Instruments
    • Oriental Rugs
    • Silverware
    • Stamps