Homeowners Insurance Differences.
Is it a Good Idea to Buy Cheap Homeowners Insurance in Indiana?
Purchasing cheap homeowners insurance in Indiana might seem like a good idea if coverage between companies were equal. As we will discuss in the following article coverage may differ significantly between insurance companies.
If you are looking for different options for homeowners insurance in Indiana contact the Jan Nielsen Agency at 866-440-0303 or click on Indiana home insurance to submit your information online.
How Indiana Homeowners Insurance May Differ Between Companies:
Three consecutive days of consistent rain overwhelm the sewer system in one particular neighborhood and two neighbors living next to each other experience water and raw sewage backing up into their finished basements.
Each neighbor was insured with a different insurance company; both had the prudence to buy the optional sewer backup endorsement to cover such types of claims.
One of the neighbors was fully reimbursed by their insurance company for their loss minus a $500 deductible.
The other neighbor was not so fortunate.
Their insurance Company refused to provide reimbursement for the damages for their personal contents and they incurred more than $10,000 in damages that were not reimbursable by insurance.
This Is How One Sewer/Water Backup Endorsement Reads:
We insure, up to the limit of liability shown in the Declarations for this coverage, for direct physical loss, not caused by the negligence of an “insured” to property covered under Section I caused by water, or water-borne material, which:
1. Backs up through sewers or drains; or
2. Overflows or is discharged from a:
a. Sump, sump pump; or
b. Related equipment;
This Is How Another Policy Reads:
The coverage provided by this endorsement only applies to the dwelling described in coverage A and the following coverage C personal property items:
- Close washers and dryers
- Portable dishwashers
- Food freezers and the food in them
The first company covers damage to personal property without any restrictions.
The second company only covers a very limited number of personal items that could be lost because of a sewer backup.
Such un-covered items could include electronics, TVs, Entertainment systems, furniture, gaming systems, pool tables, or any type of personal item not listed in their list that was lost because of this type of claim.
In the above claims scenario, despite the fact that both neighbors had purchased the water backup endorsement, the claim results turned out differently because they were insured with different companies!
There are many such differences between insurance companies for homeowners insurance!
This is why you can’t judge an insurance policy based on the price you pay!
For the Best Options on Indiana Homeowners Insurance Contact Our Agency!
We feel it is best to use an educational approach in determining what coverage is best for your individual financial circumstances. Why not call us today when you need Indiana homeowners insurance?
Please contact the Jan Nielsen Agency at 866-440-0303 or submit your request for a quote online by clicking this link.
Homeowners Insurance is available in the following areas:
- Homeowners insurance Indianapolis
- Homeowners insurance Fort Wayne
- Homeowners insurance Kokomo
- Homeowners insurance Muncie Indiana
- Homeowners insurance Frankfort Indiana
- Homeowners insurance Terre Haute