Home Insurance

Your home is the epitome of excellence. You have been meticulous with every upgrade to ensure that your most prized possession stands out. It would be devastating if a tragic event took your home along with the personal possessions inside. The agents at Smoller Insurance Agency can help you prepare for the unexpected with a good home insurance policy.

What does a standard home insurance plan cover?

The average home indemnity pays for damages to the structure of your home as well as injuries that occur inside the residence. A standard home insurance policy does not compensate for natural disasters.

The amount of specific coverage you receive after a covered incident largely depends on the amount you are willing to pay in monthly premiums. The average homeowner pays about $1,400 per year for insurance coverage. You may find yourself paying more than the average if your home has a high appraisal value.

The 80 percent rule

Some homeowners purchase the most economical home insurance plan with the impression that they are fully covered in the instance of tragedy. Such individuals are often surprised to learn that the insurance provider will not pay for their home’s replacement in the event of total disaster.

Most insurance companies provide coverage under the 80 percent rule, which promises to fully pay for the total loss of a home only if the homeowner purchased coverage equal to at least 80 percent of their property’s appraised value. Many homeowners who do not review their policies annually find themselves out of the loop and in financial turmoil when they are denied compensation for what should be a covered incident.

It is important to review your home insurance policy at least once per year to ensure that you remain within the limits of the 80 percent rule.

Smoller Insurance Agency is here to help!

Our agents can thoroughly explain the 80 percent rule as well as other components of home insurance so that you make an informed decision about coverage for your house. Call today to get started with a quote for home insurance coverage!

Condo Insurance

Owning a condo can be great, but you have to have the necessary condo insurance to keep it protected. In addition, most condo boards and mortgage lenders require condo owners to keep this insurance. If you own a condo, call us at Smoller Insurance Agency in Newton, MA to talk with an insurance agent.

Condos and Possessions

As the owner of a condo, most, if not all, of your possessions will be in the condo itself. Condo insurance has a section that is about the protection of those possessions. If something terrible should happen to ruin or destroy your belongings, the insurance policy pays for them up the amount of coverage your policy provides. This is important coverage for keeping your lifestyle if something terrible were to happen to your home.

Habitable Space

If a calamity or disaster should happen that makes your condo uninhabitable, your condo policy will pay for you to live somewhere else that is habitable. Many of these policies also cover the expenses that come with moving to a safer place. This can be extremely important if the worst should happen and you find your home to be unlivable.

Dwelling Coverage

Condo insurance is a little different from homeowners' insurance. Whereas homeowners' insurance covers an entire dwelling, condo insurance doesn't cover the outside of the building. Depending on the contract for your condo, you may have to insure either the inside parts of the wall inward or the center of the walls inward. If it includes the center of the walls, that means you have to insure the plumbing and other systems that run through the walls.

Talk to an Agent

When you have a condo, you need to have a condo insurance policy. If your condo isn't insured, call us.

When it comes to condo insurance, applications can be a little tricky, so it is best to call Smoller Insurance for help.

Renters Insurance

Most tenants don't carry renter’s insurance. Either they are unaware of what it protects or assume that the landlord's insurance covers them. Unfortunately, when disasters strike, it's when most tenants look to the heavens and wish they had renter’s insurance.

Is renter’s insurance required?

Many states don’t require tenants to carry renter’s insurance. However, some landlords require you to purchase renter’s insurance before renting their property. Renters insurance coverage reduces the landlord's exposure because it covers liabilities that the tenant might be legally liable for.

Is renter’s insurance worth it?

While many landlords are increasingly asking for renter’s insurance, many tenants forgo this insurance when renting properties where renters insurance isn't a prerequisite. However, whether you have rented a condo, home, or an apartment, renter’s insurance from Smoller Insurance Agency is a worthwhile investment because it covers you in the following areas.

  • Personal property protection: If a covered peril damages or causes loss to your assets such as electronics, furniture, and clothing, renters insurance pays for the losses up to your coverage limit.
  • Liability protection: Suppose a guest injures their neck while on your premises? Or perhaps you reverse into your neighbor's wall? Without renter’s insurance, you would have to pay medical costs or property damages from your pocket.
  • Loss of use: If your apartment or condo becomes inhabitable due to a covered calamity, renters insurance pays for the additional living expenses incurred in a temporal shelter.

What doesn't renter’s insurance cover?

Renters' insurance won't cover structural damage (like leaky pipes) to the property. Your landlord's insurance covers that damage. However, if leaky pipes cause waterlogging that destroys your laptop, renter’s insurance will compensate you for the laptop damage.

Furthermore, typical renters' insurance won't cover you against flood damage. As such, you need separate flood insurance coverage if you live in a flood plain area.

Renters insurance

Are you looking for renter’s insurance coverage? If yes, don't look beyond Smoller Insurance Agency. Contact us today, and we will help cover you and your assets with an affordable renter's insurance policy.