Georgia Property and Homeowners Insurance
Do you have a private residence? Then you must protect it against any hazard, or damage. So, the best way to do it is to purchase a homeowner insurance policy from a trusted insurance company. Insure with Corner Stone homeowners’ insurance policy combines several personal insurance protections that may encompass damages to your home, furniture, and fixtures, loss of use (living expenditures), or loss of other personal items, and liability insurance for collisions that may occur at home or the hands of homeowners within the policy zone.
What is the Typical Home Insurance Coverage?
Section I – Property Coverages
Coverage A – Dwelling
It provides coverage for the dwelling (excluding the value of land). According to a coinsurance clause, your dwelling needs to be insured 80% of the actual value, and losses need to be adjusted at replacement price, up to the policy limits. So, this acts as a buffer against inflation. While the renter’s insurance offers no coverage A, though it has surplus coverage for developments.
Coverage B – Other Structures
It encompasses other structures of your property that are not used for business purposes, apart from private coverage. Generally limited at 10% to 20% of the Coverage A, with surplus amounts available by validation.
Coverage C – Personal Property
It offers coverage for personal property with limits for robbery and loss of specific categories of items. For instance, $200 for cash, banknotes, coins, and medals. Generally, 50% to 70% of coverage A is necessitated for the contents, which implies that customers should pay greater insurance than required.
Coverage D – Loss of Use or Living Expenditure
This covers expenditures associated with extra living expenses (rental bills). It pays according to the fair rental value if any part of your home was rented out. Though, only rental proceeds for the actual rent of the property are provided. So, it excludes the services like utility bills.
Flood damage is generally omitted when you purchase our standard homeowners and renters insurance policy. So, if you need flood coverage, you will have to purchase a separate policy from us.
Section II — Liability Coverages Coverage E – Personal Liability
This coverage includes damages for which the policyholder is legally responsible, and offers legal defense at the insurer’s personal expense. So, almost one-third of losses of the coverage result from dog bites.
Additional Coverages
This part covers several expenses like debris removal, affordable repairs, damage to the plantation, natural calamity, thefts, removal of the property, collapse, and some building additions.
Exclusions
In an open perils policy, particular exclusions include earth movements, water destruction, power failure, abandonment, war, nuclear threat, septic tank, deliberate loss, and concurrent causation. So, the concurrent causation eliminates losses in which both covered and excluded loss occur. Besides, the elimination of formulating ordinance implies that amplified expenses (due to local ordinances) might not be compensated.
Get in touch to find out how to get the best price and value on home insurance for you.