Policy perks for homeowners insurance
Can you get policy perks for homeowners insurance with Huff Insurance?
The answer is YES you can. The TV and radio commercials lead you to believe that policy perks for homeowners insurance is only available through their company.
I’m here to tell you that most of these policy perks are available with our companies as well.
Policy perks for homeowners insurance can include:
Guaranteed replacement cost
This perk can be purchased alone or as part of an overall enhancement endorsement. This perk guarantees that you will have full replacement cost for your home should a disaster strike.
There are times of disaster when the prices of labor and building materials can significantly spike. This spike can actualy be big under certain circumstances. It can cause the cost to rebuild your home to be more than the building coverage limit on your policy. This policy perk will guarantee that the company will pay the full replacement cost to rebuild your home.
There are a some stipulations to the guaranteed replacement cost perk:
- Your home has to be insured to for the replacement cost value at the time of the policy effective date. You cannot just gorssly under insure you home and expect the company to pay for the replacement cost.
- The ordinance and law limit may still be enforced. The guaranteed replacement cost perk may not automatically increase the amount that the company will pay for added costs to rebuild up to current building codes. Check out the blog and video by Nancy Nicklow titled Ordinance and Law Insurance- When Replacement Cost Is Not Enough.
Claim Forgiveness
If you go claim free with a company for a set number of years, the company will not directly charge you for the claim. The time period for earning this perk for homeowners insurance is usually 5 years. It can vary by company. Keep in mind that although you may not be directly charged for the claim, you may still loss a claims free discount perk with some companies.
Claim Free Discount
Like claim forgiveness, the claim free discount perks can be earned. The time period to earn this perk is usually 3 years with most companies. As stated above, this discount can be removed even if the claim is forgiven with the claim forgiveness policy perk for homeowners insurance.
Multi Policy Discount Perk
This is a policy perk that can provide a great savings on your homeowners insurance policy. The most common bundle discount is the auto insurance policy bundled with a home insurance policy. Combining these two policies can save you up to 20% on your insurance rates!
If you bundle more policies, the multi policy discount gets bigger. Other policies that you can bundle for the discount include: Umbrella insurance, Motorcycle Insurance, Boat Insurance, Dwelling Fire Insurance (for rental properties), etc.
Call Huff Insurance at 410-647-1111
Call our office to discuss the policy perks that are available for your homeowners insurance.
**Not all policy perks are available from all insurance companies. To see what perks are available to you, check with your specific auto insurance company.