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EDISON BLOG

Quick Tips for Kids: Pool Safety from Edison Insurance Company

Updated: May 1, 2020
 

 

Meant to promote water and aquatic safety, drowning prevention, and recreational activity safety, May is recognized as National Water Safety Month. As many families take advantage of time in their pools, it is important to evaluate your children’s swimming skills and know what steps to take when it comes to water safety.  You should know their strengths, weaknesses, and areas they may need help in when it comes to swimming.

 

Here are some facts from the CDC (Centers for Disease Control and Prevention) on drowning:

  • From 2005-2014, there was an average of 3,536 fatal unintentional drownings (non-boating related) annually in the United States — about ten deaths per day. An additional 332 people died each year from drowning in boating-related incidents. 

 

  • About one in five people who die from drowning are children 14 and younger. For every child who dies from drowning, another five receive emergency care for nonfatal submersion injuries.

 

  •  More than 50% of drowning victims treated in emergency departments require hospitalization or transfer for further care (compared with a hospitalization rate of about 6% for all unintentional injuries). These nonfatal drowning injuries can cause severe brain damage which may result in long-term disabilities such as memory problems, learning disabilities, and permanent loss of basic functioning.

 

With these facts in mind, pool safety should be atop of your priority list. Please consider these 5 pool safety tips: 

  1.  Supervise children at all times when in or out of the pool. Even if your children are playing around the pool, they still need your undivided attention in case of a slip or fall.

  2.  Be prepared for an emergency. CPR classes are available year-round. It’s simple, all you need to do is search online for a class near you. Learning basic rescue skills could save your child’s life, or even someone else’s. Although the ambulance is called, it does not necessarily mean it can wait. Many rescues are successful because of someone using CPR until the ambulance arrives.

  3.  Teach your children how to swim. Of course, they may not be professional swimmers right away, but enrolling them in swimming lessons could be a game-changer. Should they ever find themselves in trouble, they could apply those skills in a calm manner to get themselves out (or at least hang on until help arrives). Basic skills such as treading water and floating are a must if they are to be trusted in the water without a floatation device or other assistance.

  4.  Clear toys from the pool after swimming. Smaller children are more likely to follow a ball or toy straight into the pool. Some will even try so hard to reach their toys, they end up falling in unintentionally. If no one is around to help, or witness, there could be a fatal result. It is important to bring all toys inside to avoid temptation.

  5.  Make it clear to your children: Needing help isn’t embarrassing! Some children may be tempted to remove their floatation devices because the other children in the pool are without it. If your child is very hesitant to wear their life jacket and they know the basics of swimming (as listed above), try an alternative, like a pool noodle, boogie board, or floating ring they can hold onto while strengthening their swimming. You will need to keep a very close eye on them, but at least it will encourage them to become stronger, instead of ditching the floating devices completely.

 

 

We hope you will keep these pool safety tips in mind around the pool. As your homeowners insurance carrier, we understand accidents occur. Should the unexpected happen we would like to remind you your homeowners insurance policy includes personal and medical liability coverages to protect you. To learn more about liability coverages or to increase your coverage limits, contact your agent or contact us at 866-568-8922. 

5 Tips for Preparing Your Home for Hurricane Season

Updated: May 1, 2020
 

 

With the official start of Hurricane Season a month away, there is no time like the present to start preparing your home for a hurricane or tropical storm. As we have seen in the past few seasons, it only takes one storm to cause devastation and millions in damages. With the prediction of another active and “above-average” season this year, we would like to provide some simple steps you can take to protect your home for Hurricane Season:

 

  1. Conduct a Home Inspection

Is your home ready for a natural disaster? Consider conducting a home inspection before Hurricane Season approaches to ensure your personal safety, as well as those of your home and belongings. Conducting a home inspection is quite simple, all you need to do is check for damage such as cracks, leaks, and breaks in the interior and exterior of your home. Should areas of your home need repair, fix them as soon as possible to prevent further damage.


 

  1. Hurricane Shutters

If you hear the news of a hurricane or tropical storm is approaching, installing hurricane shutters to your windows can be beneficial. If a window in your home is broken during a hurricane, it can expose the inside of your house to excessive winds and rain, and potentially lift the roof from below. If you do not currently own shutters, now is a good time to get some estimates and purchase them from local vendors and hardware stores. Waiting until the last minute to purchase items such as shutters can be costly or inventory may be very low. If you currently own shutters, be sure to place them in an area in reach and inspect them for damages. Should you need to install your shutters, be sure to do so safely. 

 

  1. Hurricane-Proof Your Roof 

Roofs can be vulnerable to hurricane damage due to heavy rains and wind. Taking a few steps to strengthen your roof before a hurricane is recommended, especially if it is older. Be sure to inspect your roof for cracks and damages and have it fixed as soon as possible to avoid further damages from a storm. 


 

  1. Clear Your Yard

Hurricane winds can be extremely dangerous, and strong enough to pick up objects such as lawn chairs, garbage cans, wood, metal, bicycles, barbeque grills, etc. These winds can send these objects flying into your car and home. Before a hurricane strikes, remove these types of outdoor objects and bring them inside. Should you have trees near your home be sure to trim limbs often and remove any large trees which may show signs of decay or damage. 



 

  1. Review Your Homeowners Insurance Policy: 

Now is also a great time to review and update your homeowners insurance if necessary to be sure you have adequate coverage should the unexpected occur. Remember, flood coverage is not included within your startard homeowners policy, it is important to determine if you need flood insurance prior to Hurricane Season. Luckily Edison Insurance Company offers a certified flood endorsement which allows eligible policyholders to secure flood insurance coverage up to a selected amount, eliminating the need for a standalone flood policy. Should you have any questions about your policy and coverages, please contact your agent or call us at 866-568-8922 for assistance. 


 

It is important to keep in mind, these procedures should be taken well in advance of a hurricane, not a few hours before. Should catastrophe strike, Edison Insurance Company stands ready to assist you. In the event of a loss, you may report your claim online or by calling our claims hotline at 888-683-7971.

What You Need to Know About Preparing for a Flood

Updated: April 1, 2020
 

 

As many Floridians know, floods are a common natural disaster to occur in our state. In fact, they are the most common natural disasters in the United States. With Florida being at an increased risk of experiencing flood damages, it is pivotal you and your family take steps to prepare yourselves and your property for flood events.  

 

5 Tips for Creating Your Flood Evacuation Plan 

Taking steps to create an evacuation plan for you and your family is a must when it comes to a flood event. Keeping your family safe and calm during a disaster should be your top priority. As such, we would like to provide these 5 tips for creating your evacuation plan:  

  1. Sign up to receive local weather alerts to be aware of a flood event could occur in the near future.  

  1. Gather supplies should you need to leave quickly. Be sure to consider each family member’s specific needs such as special foods/drinks or medication.  

  1. Be sure each member of your family is aware of all the exits in your home and where they need to go should you need to evacuate.  

  1. Floodwaters pose severe dangers, so it is important your evacuation plans include multiple ways to evacuate.  

  1. Be sure to review your plan with all members of your family frequently.  

 

Protecting your Belongings and Property  

It is recommended you take steps to secure your possessions and protect your property. Doing so can significantly reduce damages and expenses afterward. Before a possible flood event, elevate, or bring valuables, electronics, rugs, and furniture to a second floor if you can. Store smaller valuables and important documents in a sealed, waterproof container. If time permits, place sandbags around your home to divert moving water.  

 

Planning Ahead: What to Do After A Flood  

Due to the severe danger floodwaters can cause, it is important you also plan ahead for the aftermath of a flood event. Floodwaters can contain dangerous debris, wildlife, and can be contaminated. It is also important to be aware of the risk of electrocution as downed of underground powerlines could electrically charge flood water. Nobody should walk or drive through flooded areas, as just a few inches floodwater could knock you down or have a driver lose control of their vehicle. Be sure you and your family listen to authorities and only return home when it is safe to do so. Remember, once you have safely arrived home, take time to survey your property and take pictures of damages to present to your insurance company should you need to file a claim.  

 

Consider Purchasing Flood Insurance  

One aspect of being prepared is to make sure you are also financially protected. As we have seen in recent years, floods can cause significant damage and costly destruction. Should you fall victim to a flood event, you want to make sure you have insurance coverage to not have to face the financial burden of repairing your home or replacing your belongings. Obtaining flood insurance will keep you afloat and return to normalcy as quickly as possible. Flood protection is not typically covered under your standard homeowners insurance policy, you would need to obtain flood insurance through the NFIP or a private carrier such as Edison Insurance Company. We offer flood coverage to qualifying policyholders eliminating the need for a standalone policy. To learn more about obtaining flood coverage from Edison, speak to your agent or call us at 866-568-8922 

 

Why You Need Flood Insurance

Updated: April 1, 2020
 

Flooding has become an increasing risk over the past few years, especially in Florida. Floods can occur at any time and anywhere, making them the most common and most costly disaster in the United States. Experiencing losses due to flooding can not only devastating but extremely costly should you not be covered. It is important you understand your risk of a flood and take precautions to protect your home, your possessions and your family.

 

What Causes Floods?

Floods can be caused for many reasons including storm surge caused by a hurricane or tropical storm, river, lake, dam or other water system overflow, or even just heavy rainfall. Floods can develop slowly or quite rapidly depending on the type and can come with little to no warning. What is your risk for flooding in Florida? Flooding is a frequent hazard in Florida and is a threat to communities from coast to coast. Florida’s coastal location, relatively flat terrain and low elevation puts the state at an increased risk of experiencing floods. Not to mention, and as we have seen over the past years, Hurricanes are frequent to Florida and bring heavy rains and storm surge.

 

The Cost of Flood Damage

FloodSmart estimates just one inch of floodwater can cause roughly $25,000 in damages to your home and your possessions. You do not need to live in a high-risk flood zone to experience flood damage either. More than 20 percent of all reported flood claims come from homes located outside of high-risk flood zones. Not only is flood damage extremely costly, but it also can cause quite a headache and frustration while homeowners must wait for repairs. Now with an understanding of the risks and the damage and costs of flooding can cause, let’s make sure you consider obtaining flood insurance coverage to avoid the costs and frustrations flooding can cause.

 

Obtaining Flood Insurance

As a homeowner in Florida, you more than likely need flood insurance to provide coverage for your home and possessions. If your home is located in a high-risk area and you have a mortgage, your lender will most likely require you to have flood insurance. However, those who live in moderate to low-risk areas may be surprised to learn flood damage is not covered under your standard home, condo, or renter’s insurance policy. Flood insurance must be purchased through private carriers, like Edison Insurance Company or through the NFIP. Edison’s flood endorsement allows eligible policyholders to secure flood insurance coverage up to a selected amount, eliminating the need for a standalone flood policy. Most standard flood policies provide coverage up to $250,000 for your home, and up to $100,000 for your contents/personal belongings. However, Edison’s Flood endorsement exceeds the limits of a standard flood policy providing up to $2,000,000 for your home and up to $1,000,000 for your personal belongings.

 

With hurricane season quickly approaching, you definitely do not want to wait until it is too late to obtain flood coverage to be sure your home and possessions are covered. To learn more about obtaining flood insurance with Edison Insurance Company, speak with your agent, or give us a call at 866-568-8922.


 

How Much Personal Property Coverage Do I Need?

 
Last Updated: March 1, 2020

 

 

Choosing the right personal property insurance coverage can be a challenging task. It’s important to ensure your policy will sufficiently cover the value of your belongings.

 

The Difference Between Actual Cash Value and Replacement Value

Although actual cash value and replacement value both relate to the coverage you receive for damaged personal property, they function in significantly different ways.

 

Replacement Value

Replacement value is the cost of replacing an item with a brand-new item. So, if your TV is stolen, the replacement value would be enough to purchase an equivalent, brand new model at the store.

 

Actual Cash Value

Actual cash value is determined based on the replacement cost minus the depreciation of a damaged or stolen item at the time of the loss.

For example, if a 5-year-old TV is replaced at actual cash value, the payout would be equivalent to the price of another 5-year-old TV rather than the price of a brand new one. This may be significantly less money than would be required to purchase a brand-new TV from the store.

This is because over time the value of nearly everything declines. Your furniture begins to wear after many years of binge-watching and game days, the TV begins to flicker, and your computer doesn’t run as fast as it used to.

 

Which is better?

Neither type of insurance is better than the other. Actual cash value insurance will be the best coverage for some, while not for others.

With replacement cost insurance you’ll receive more payment in case of damage or theft, but the downside is you’ll also be paying more in premiums. With actual cash value insurance, you won’t be paid as much for stolen or damaged items, but you will save money on premiums.

The right type for you depends on the value of your personal property and what you’re willing to pay.

 

Homeowners V. Condo Owners Insurance

Homeowners usually have less control over their personal property coverage. Their coverage typically amounts to half of their policy’s dwelling coverage limit. For example, if your dwelling limit is $300,000, then you will have $150,000 in personal property coverage.

Condo policies usually allow for more control when selecting a personal property limit. The allowed will vary depending on the insurer.

 

Understanding Sub-limits

Understanding your insurer’s sub-limits is key to buying the right coverage. For example, you might have $100,000 in total coverage but only be entitled to a smaller, fixed amount for an individual item.

Common sub-limits on personal property insurance include:

•             Cash and gold: $250

•             Furs and precious stones: $1,000

•             Home-based business property: $2,500

•             Silverware: $2,500

•             Firearms: $2,500

When the value of an item exceeds your insurer’s sub-limit, consider scheduling the item by listing it directly in your policy. Scheduling an item separately with your insurer will mean it’s protected for its entire value. This will slightly raise your premium, and an appraisal or detailed description of your possession may be required.

 

Now with a good grasp on personal property insurance, it may be time to consider purchasing coverage or updating a current policy. Edison Insurance Company can customize your policy to fit your needs. Call us at (866) 568-8922 to get a free quote.

 

How to Spring Clean Fast

Last Updated: March 1, 2020

 

Spring is a season all about change and new beginnings. As such, you should take some time this month to clean your home thoroughly. Maintaining your home prevents damage due to neglect, which isn’t typically covered by a homeowner’s insurance policy. Spring cleaning doesn’t have to take weeks, though. We’ll detail how to spring clean fast with strategies to improve your efficiency.

 

Prepare

If you want to get your spring cleaning done fast, remember the old adage, failing to plan is planning to fail. Make sure you buy and gather all the supplies you’ll need to clean beforehand. Nothing is more time consuming than continuously driving out to buy cleaning supplies you forgot you needed. Also, prepare a schedule complete with all the rooms and areas of your home you plan to clean.

 

De-Clutter

Decluttering your home before you begin cleaning is a great way to save time. You will have more room to clean, and you’ll be able to reach areas previously covered by the clutter. The increased mobility you’ll have throughout the house after decluttering will also let you move and clean faster.

Decluttering is also a good way to childproof your home. If you have small children, now is the time to move toxic medicines and products to an area out of reach. Also, make sure to check for small items on the floor to prevent your child from choking on them.

 

Get the Family Involved

The task of spring cleaning shouldn’t have to all fall on one family member. If you feel you need help, get your family involved. Make it fun by playing music or turning cleaning into a fun game for younger kids.

 

Keep Your Doormats Dirt Free

Giving your doormats a thorough cleaning can keep them absorbing dirt and grime at peak efficiency, keeping your home's floors clean. The less dirt carried into the house, the less time you'll have to spend cleaning your floors.

To really save time, make this a regular part of your cleaning schedule all year round.

 

Clean Room-by-Room

Adopting a room-by-room cleaning strategy is by far the most effective way to deep clean your home. Create room checklists which outline everything needed to clean each room. If your family is helping, give each family member a checklist to complete. And don't forget to create a master room list to keep track of your progress through the house.

Consider conducting a home inspection as you go through the rooms. Check for damage like leaks, cracks, and breaks in the interior and exterior of your home. Keep a record of issues for future insurance claims.

 

Work from Top to Bottom

Before you even touch a mop, think about the best way to approach the room. As a general rule, clean from the top of the room to the bottom. For example, if you sweep before you dust, you'll likely have to come back with the broom for a second sweep once you finish dusting. Cleaning from the top-down helps streamline your efforts and save you time.

 

Form New Cleaning Habits

Take steps now to form new on-going cleaning habits you can do throughout the year to make your annual spring cleaning a little easier. Create simple 15-minute cleaning routines to use regularly. This will keep your home clean and tidy all the way up until your next spring cleaning. 

 

Spring cleaning is an excellent way to prevent the wear and tear insurance may not cover. However, sometimes unexpected damage can occur to your home which may not be avoidable, especially for Florida homeowners.

 

Sufficient insurance coverage to fit the needs of your family is available through Edison Insurance Company. Should you have any questions or concerns about your policy, contact your agent, or call us at 866-568-8922.

 

What to Look for When Buying A Home and Potential Insurance Impacts

Purchasing a home can certainly be an overwhelming, emotional, and stressful process. Whether you are a first-time homebuyer or not, it is understandable to not know all the ins and outs of buying a home. However, there are a few things you may want to be aware of to help you throughout the home-buying process. This includes major red flags which may not only include costly and aggravating fixes but may also have a major impact on your home insurance premium. Here are a few examples:

 

The Neighborhood

Finding your perfect house in the wrong neighborhood can be quite a disappointment. Be sure you take some time to drive around to check out the neighborhood to make sure it is safe. If you have children, it is important you find a home in their desired school zone. Be sure to take note of the surrounding areas should there be water nearby, if the home is located on a busy street, etc.

Insurance Impact: If your new home is located within a gated community you could receive credits towards your premium. Should the home also be nearby water, it is important you purchase flood insurance to be covered in the event the waters rise.

 

Renovations

A few simple and easy DIY projects to make the home “yours” can be quite simple and inexpensive. However, should the house need a full remodel of a kitchen or bathroom it can average around $10,000- $20,000. If you are planning on making an offer on a fixer-upper, be sure to calculate the price of these renovations into your budget.

Insurance Impact: Should you decide to make major changes or additions to your home, you could be underinsured. It is important you provide your insurance agent with the information on the renovations to your home as soon as possible, so your insurance policy can be updated to ensure you have adequate coverage.

 

 

Make Sure the Home Has “Strong Bones”

Most home buyers aren’t looking at the foundation or the roof of the home at first glance, but these areas should not be overlooked. If the tile roof has not been completely replaced in the last 25 years, or the shingle roof in the last 15 years, a replacement is in the future. The cost of replacing a new roof can set you back anywhere between $5,000 to $15,000.  As for the foundation, major cracks could indicate larger issues and could cost tens of thousands to fix. It is also important to take a look at other systems included in the home such as electrical, sewer/septic or well, and HVAC as all these systems can be costly to repair or replace.

Insurance Impact: The home may be ineligible for coverage should the home have major foundational issues. If your new home features a newer roofer, a Wind Mitigation Form should be completed by a licensed inspector to show your home possesses certain characteristics to limit damage from wind. Once this form is submitted to your insurance carrier, you could be eligible for wind mitigation credits towards your premium.

 

Look for Damages

Although homeowners should always have a thorough home inspection done by a licensed inspector prior to closing, you should be looking for damages around the home from the first look. Water damage can pose a larger problem within the home, be sure to check ceilings and walls for water stains. Take a glance at the pipes in the laundry room and bathrooms for leaks.

Insurance Impact: Water damages can cost thousands, and should it be determined the damage is caused by everyday wear and tear or lack of maintenance it may not be covered under your homeowners insurance. Consider inquiring if the previous owner has had a history of filing insurance claims on the property. As a condition on the sale, you can request a C.L.U.E. report which will list the losses reported to insurance companies for the property.

 

As a homebuyer, it is very important for you to be well informed about the potential features and pitfalls associated with a home before closing. Another important thing to note, before closing, your mortgage lender will require you to purchase homeowners insurance. Just as you did your due diligence and research on finding your home, you should do the same when finding a home insurance carrier. Speak to your agent about obtaining homeowners insurance with Edison Insurance Company. We provide quality and customizable coverages at competitive rates. Edison Insurance Company also has an "A Exceptional" Financial Stability Rating ® (FSR) from DEMOTECH, INC. and are backed by only “A Rated” reinsurance companies. We offer homeowners and condo owners insurance as well as flood coverage as a certified endorsement, eliminating the need for a standalone flood insurance policy. To learn more about us, or to obtain a quote, contact your agent, or call us at 866-568-8922.

 

 

Can Home Upgrades Help You Save On Your Insurance Premium?

 

 

Many home improvement projects can increase your home’s value, but could it also result in savings on your homeowners insurance premium? Making certain updates to your home which could drastically reduce the risk of damage to your home and personal well-being can reduce your homeowners insurance premium in the event the unexpected occurs.  We would like to provide you with a few ways you could save some money on your insurance premium and a few other ways home updates could save you some money.

 

Hurricane Protection Devices

Should your home not contain hurricane protection devices on its doors, windows and garage doors, you could be missing out on significant savings. Many hurricane protection devices are available, including metal panels, hurricane impact windows and doors, accordion shutters, and hurricane/wind-proof fabrics. Do your research to determine which hurricane protection devices would work best in your home and best fit the needs of you and your family.  The state of Florida allows homeowners carriers to extend hurricane device credits only when all the openings of your home are protected, including your front door and garage. If one opening is not protected, you will miss out on receiving any credits. Should you be interested in adding hurricane protection devices to your home, we recommend researching vendors and gathering estimates well in advance of Hurricane Season to capture savings on the labor and materials and faster turnaround times.

 

A New Roof

If you have replaced your roof in the past few years or are planning to do so in the near future, you could be eligible for a discount on your home insurance. As a general rule of thumb, if your tile roof has not been completely replaced in the last 25 years, or your shingle roof has not been replaced in the last 15 years, a replacement is in the future due to everyday wear and tear. So, how will a new roof save you money? As with the hurricane protection devices, homeowners insurance carriers can only extend roofing credits to their policyholders when a Wind Mitigation Form is completed by a licensed inspector, detailing when the new roof was installed, its new features, and photos. Once the inspection has been completed and the documents submitted to your carrier, you may be eligible for savings on your insurance premium.

 

Security Systems

Regardless of the neighborhood you live in, your home is at risk of being burglarized. Having certain security and theft prevention devices installed throughout your home can not just protect your property and loved ones, but could result in an insurance discount. Having a security system which has an alarm can deter a burglar and alert the authorities immediately. Depending on your homeowners carrier, having such devices could provide you with some credits towards your premium.

 

Other Ways to Show Your Home Some Love and Save You Some Money

Although you may not necessarily receive any discounts on your homeowners insurance, showing areas of your home a little TLC can go a long way in keeping your home safe, increase its value, and may even save you some money. Here are a few ideas to consider:

 
Update your Curb Appeal: Your home’s curb appeal is the first impression others have of your home. Little improvements you make now, can go a long way. Remove dirt build-up from your sidewalk, driveway, and walkways with a good power wash. It’s the perfect time to exercise your green thumb and make some changes to your landscape while the weather is a bit cooler.
 

Have a Paint Party: See your home in a new light with a fresh coat of paint. Painting can be a simple and inexpensive way to change the whole look of a room. If you do not want to paint an entire space, consider adding a pop of color with an accent wall or painting a piece of furniture. Adding a fresh coat of paint could increase your home’s value and appeal should you be in the market to sell.

 
Easy Updates: There are so many innovations available for your home, which may save you some money and keep your home and family safe. Consider installing programmable lights and/or thermostats to give you the ability to set your devices remotely, or to work on your schedule. Doing so could save you some money on your next electric bill.

 

Remember to Contact Your Agent

It is important to note, making changes to your home could also impact your premium in the form of an increase. Should you be making any additions or major upgrades to your home, you want to make sure your new additions are adequately covered. Contact your local agent as soon as any updates are made so your policy can be updated.  Each homeowners carrier is different and may offer unique discounts. We recommend you contact your agent about what discounts may be available to you. Should you have any additional questions in regards to additions to your home and how it may affect your policy premium, contact your agent, or give us a call at 866-568-8922 for assistance.

Annual Check-Up on Your Home and Homeowners Policy

Family holding small house in hands.

 

The new year often serves as a great reminder for annual check-ups. Like your annual check-up at the doctor’s office, your home and homeowners insurance policy may require an annual check-up as well. Consider these tips when conducting an annual check-up of your homeowners insurance:
 
Make, or update your home inventory

Over the holidays, you may have received some new items which should be documented in your home inventory. In the event of a loss, having a home inventory can expedite the claims process. Create a home inventory by listing your belongings and their estimated value. Keep more than one copy of your inventory in a safe and protected location.
 
Conduct a home inspection
 
Keeping your home and family safe and healthy starts with maintenance and preventative measures. Conduct a home inspection by checking for damage such as cracks, leaks, and breaks in the interior and exterior of your home. Should areas of your home need repair, fix them as soon as possible to prevent further damage.
 
 
Review your homeowners insurance coverage
 
Many things can change over the course of a year, which may have an impact on your home insurance needs.  It is important you read through your policy to better understand the coverages you have purchased, Remember, Edison Insurance Company has several coverage options which can be tailored to suit your needs. In the event the unexpected occurs, you will have peace of mind knowing your home is covered. Should you need to make any changes to your policy upon completion of your annual checkup, be sure to contact your agent or call us at 866-568-8922.
 

 

Reviewing and Understanding your Homeowners Policy

An insurance policy on a table.

 

Many things can change within a year, which could impact your insurance needs. The start of a new year is a good time to take an opportunity to review your homeowners insurance policy and your coverages. Doing so may save you some time and money should the unexpected occur. Here are a few things to look at while reviewing your policy:

 

What is covered?

Your homeowners insurance is made up of several coverages which can help pay to repair or replace your belongings and your home should they be damaged by certain perils such as fire, theft or windstorm. A standard homeowners policy typically includes the following coverages:

  • Coverage A: The limit for your dwelling/home physical structure, and any other structures permanently attached to your home.
  • Coverage B: Often referred to as “Other Structures” protection, Coverage B provides coverage for structures not attached to your dwelling/home.
  • Coverage C: Extends coverage for your personal property and belongings.
  • Coverage D: Provides coverage for the additional living expenses incurred, as a result of your home being deemed uninhabitable due to damage sustained from a covered peril.
  • Coverage F:  Also known as “Medical Payments to Others” coverage, offers coverage for medical bills should someone be hurt or injured on your property.

 

Edison Insurance Company also offers additional coverages and increased limits to best suit your needs.

 

What is not covered?

Although your homeowners insurance covers many types of perils, there are exceptions. One notable exception is flood coverage, as a standard homeowners policy does not cover flood damages. However, Edison Insurance Company offers a certified flood endorsement to qualifying policies, which eliminates the need for a standalone flood insurance policy.

 

Should you have any questions or need to make any changes to your policy, please contact your agent for assistance.