Personal Lines Insurance
Personal Homeowners Insurance Coverage Considerations
In todays market, it is important to update the replacement cost coverage on your home annually to prevent being under or over insured. For example: From 2019-2021 wood costs have increased nearly 300%
BUILDING ORDINANCE COVERAGE
Building Ordinances generally come into play when there has been a 50% or greater loss such as a fire. The city will then require that the entire building is updated to current building codes. These codes are ever changing and determined by each city annually.
Examples of updates include; Installing side-walks, burying power lines, adding energy efficient heating and appliances, moving building to current set-backs; lower building to current height restrictions and much more.
Umbrella policies provide additional liability coverage and pay out once the underlying policy limits are exhausted. Average wrongful death claims in Washington are excess of $1,000,000 per person. Not having enough liability protection leaves your home equity, savings accounts and potentially 25% of your future income at risk.
COMMENTS & COVERAGE EXPLANATIONS
- Do not use unlicensed contractors for repair work. This policy does not provide coverage for their faulty work.
- Contents coverage is only for named insured’s and children of insureds under age 25. If you have adult children or others living in your household, please let us know.
- Life Insurance coverage can be used to pay off mortgage balances after death. Let us know if you are interested in adding this valuable coverage.
AUTO INSURANCE COVERAGES & CONSIDERATIONS
- Bodily Injury Liability Coverage (Damages to Others)
- Property Damage (Damage to other vehicles)
- Uninsured Motorist Liability (Damages to you as a result of others)
- Personal Injury Protection- (Medical coverage for you or others in your vehicle due to accident injury)
- Comprehensive Coverage Theft/Fire/Windshield replacement
- Collision Coverage Repairs your vehicle after an accident
- Towing/Rental Car Coverage
Having coverage to repair your vehicle after an accident is important. But having enough liability coverage to pay restitution to those you have injured if you find yourself at fault in an accident is far more important.
Injury accidents can be very expensive. Typical wrongful death claims average in excess of $1,000,000 per person.
Helping to protect your assets or future assets with insurance is our job. A discussion with one of our account managers will help determine the amount of coverage that is right for you.
Video Links WATER CLAIMS https://www.youtube.com/watch?v=V9SqLzxVO1E
Madison Avenue Insurance Group is licensed to write insurance in WA, OR, ID, MT, CA, CO, AZ, TX