Understanding homeowners insurance
Your Homeowners insurance policy is very important to you. It offers a combination of property and liability coverages in one convenient package to serve a variety of needs.
Our Homeowners policy is extremely flexible. Along with the basic coverages that come in all of our homeowners policies, you can purchase special optional
coverages you need, separately or combined in a variety of comprehensive packages.
Your Homeowners policy with ABCO is designed to be convenient, affordable and flexible.
Standard coverages
Losses can occur from any number of causes.
From fire and lightning to windstorm or theft, the risk of loss is always present. Your basic homeowners insurance policy protects both the physical structure of your home and your personal property. It also provides coverage for other structures, such as detached garages or sheds, and coverage to help pay for extra costs you may incur if your home becomes uninhabitable due to a covered loss. Your homeowners policy also provides liability coverages which may protect you in the event that you or a household member accidentally injures someone else or causes property damage.
With these coverages, you and other household members are protected in the event that you are found legally responsible for such injuries or damages.
Inflation Protection
To help ensure the coverage on your home remains adequate year to year, the dwelling coverage limit is automatically increased at each renewal to an amount reflecting changes in construction costs and other pertinent factors.
Identity Theft Protection Program
Coverage is provided at no extra charge with all of our homeowner policies. Our Identity Theft Protection Program offers one-on-one assistance in recovering your identity, and up to $15,000 to pay for expenses as a result of identity theft.
Optional coverages
If you have coverage needs above and beyond a basic policy, ABCO offers a wide array of optional coverages to further enhance your protection.
Specified Additional Amount of Insurance for Your Home
If you have insured your home to 100% of its replacement cost value, an additional amount of insurance – up to 25% or 50% of
your Coverage A amount is available. (May vary by state.)
Discounts and credits
You can save money on your homeowners insurance policy if any of the following applies to you:
- Auto/Home Discount — this is available if both your qualifying auto and homeowners insurance are with ABCO. And, if you’re 45-or-older, you could qualify for our exclusive PRIME of LIFE® Plan, which provides enhanced auto and homeowners coverages and extra discounts above and beyond Auto/Home discount.
- Discounts for protective devices such as fire or burglar alarms — if you have these devices installed in your home, you could
- qualify for a policy discount.
- Credits for higher deductibles — if you choose higher deductible amounts on your policy, you could reduce your total premium.
- Home Purchase Discount — you can receive a discount if you have purchased a home within the last 12 months.
- Other discounts — you may also receive discounts for updated utilities, for example newer plumbing and heating systems, or replacing the wiring in your home.
Replacement Cost Coverage for Personal Property
If your household furnishings, appliances, clothing or other personal property are damaged
due to a covered loss, you will receive the full current cost to repair or replace those
items up to your coverage limits.
Scheduled Personal Property
You can insure unique or high-valued items separately from your general policy. Many people “schedule” jewelry, silverware, fine arts, cameras, musical instruments or other precious personal items to receive more comprehensive coverage with NO deductible.
Assisted Living Care Coverage
If you are caring for a relative in an assisted living facility, coverage can be added to protect your loved one’s personal property, personal liability, and additional living expense exposures without having to maintain a separate policy.
Water Back-up and Sump Overflow
This coverage protects against loss from water which backs up through sewers or drains and water which overflows or is discharged from a sump or sump pump.
Several coverage limit options are available.
