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IS YOUR HOME PROPERLY INSURED?
According to
Marshall & Swift, recognized
consultants to the insurance
industry,70% of Americans
under-insure their homes by an
average of 29%.
Take Inventory…
Receive a Free download of a
Home Inventory Book and a Free
No-Obligation Homeowner’s Policy
Quote from PENTECO Insurance.
Whether you are
a first-time homebuyer or have
been in your home for years, it
is wise to take time to review
your homeowner’s policy to
assess if you are properly
insured. The following Checklist
is provided to assist you in
evaluating your coverages.
DO YOU HAVE THE
RIGHT INSURANCE FOR YOUR NEW
HOME?
Your homeowner’s
insurance coverage should be
based on the home’s “replacement
cost” – that is, the cost to
rebuild it new – not the current
market value. If you are buying
a new home, work with your
insurance agent and mortgage
company to determine an
acceptable “replacement cost”
value to write your insurance.
Most appraisals include a
“Cost New” or
“Replacement Cost”
section;
this information can be used to
determine the proper coverage
amount when writing your
homeowner policy. If this
information is not available,
most insurance companies now
have a way to calculate the
replacement cost based on the
square footage of the home.
Not all
homeowner’s policies are created
equal! It is important to take
the time to review what is
really covered under your
policy.
DO YOU HAVE THE
RIGHT INSURANCE FOR YOUR CURRENT
HOME?
If you have been
in your home for over five
years, chances are your current
homeowner’s policy may not meet
the current “replacement value”
due to additions, upgrades and
the rising cost of construction
materials. If you have made any
of the following improvements
since you bought your original
homeowner’s policy, you should
review your policy to determine
if your coverages meet your
needs TODAY!
• Upgraded your kitchen
• Upgraded your bathrooms
• Remodeled any room
• Added new room
• Altered a room
• Refinished a basement
• Replaced a roof
• Upgraded fixtures
• Changed windows or window
treatments
• Decorated with expensive wall
coverings
• Purchased a second home or
rental property
• Purchased any furs, silver or
jewelry, major appliances or
TV's or audio equipment
Copyright
2009' PENTECO® ).
All Rights Reserved.
WHEN WAS THE LAST TIME YOU
REVIEWED THE LIMITS OF YOUR
POLICY?
a. Does
your policy provide
Full
Replacement Cost Coverage
for your
valuables? Take the time to
conduct a full inventory of your
home furnishings, jewelry and
other valuables to determine if
you have the right amount of
insurance for your contents. Be
sure your policy includes
replacement cost on your home
and valuables –
not
actual cash value (ACV). Actual
Cash Value policies will only
pay for an item based on the
price originally paid minus the
depreciation of the item over
time. A Replacement Cost policy
will pay for the item to be
replaced at the present value.
b. Check the limits on Contents
and Valuable items - jewelry,
silverware, fine arts, furs,
furniture, china, etc. Be
sure you individually itemize
jewelry and fine arts that are
each over $1000 in value. Many
policies limit the amount of
coverage on individual items
that are covered under the
general contents coverage. To
insure that your valuable items
are properly covered, it is
recommended that you “Schedule”
these items. A “Schedule”
provides coverage for a
specified item based on the
appraised value, and ensures
that you receive the proper
reimbursement on the item.
DO YOU HAVE SIGNIFICANT PERSONAL
ASSETS? IF YES, ARE YOU
ADEQUATELY PROTECTED?
A lawsuit could
place your personal property and
assets at extreme risk – and
could go beyond the limits of
liability provided by your
homeowner’s and auto policies.
Adding an “Umbrella” coverage,
also known as Excess Liability
coverage can provide you with
higher liability protection
above what you are carrying on
your primary auto, homeowner’s,
boat, and other personal
insurance coverage.
Depending
on the coverage, Umbrella
coverage can be as low as
$150 a year for a million
dollars in coverage. This is
well worth the money for the
added peace of mind.
DO YOU QUALIFY FOR ANY
DISCOUNTS?
Most companies
offer discounts for the
following items: home alarm
system, claims-free for three
years, multiple policies with
the same company and higher
credit scores. Be sure to ask
your agent if you are eligible
for any discounts on your
policy.
Contact PENTECO
Insurance & Financial Services
at (703) 660-9090
Call Today for a
FREE no-obligation review of
your current Homeowner’s policy
and receive a Free download of a
Home Inventory Book!
Why Choose PENTECO?
•
Family
Owned and Operated Independent
Insurance Agency representing
over 35 “A” Rated companies,
offering Property & Casualty
Insurance, Annuities, Life &
Health Insurance, Travel &
Medical Insurance, Long-Term
Care, and Wealth Management. We
represent only the Best
Companies including The
Hartford, Fireman’s Fund, Met
Life, Fidelity National, CHUBB
and AIG.
• Over 25 years’ experience in
the Washington DC Metropolitan
area.
• Licensed in Virginia,
Maryland, Washington DC,
Pennsylvania, South Carolina,
and North Carolina
•
We will
work around your schedule…we
provide flexible hours including
evening and weekend hours to fit
your busy schedule
• We will come visit you in the
comfort of your own home or
office to provide added
convenience
• We offer
free no-obligation comparison
quotations on all your insurance
needs.
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