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Renters and Condos
Do you rent your home?
Whether
it’s a large house with a white picket fence, or a
cozy apartment with a Main Street view, a tenants (HO-4) policy
offers the coverage you need to protect what’s "yours." Your
personal belongings—and those of
other family members who reside with you—are insured on an
actual cash value basis up to the limit you select. Coverage applies
wherever
your items happen to be—at home, in transit, in storage,
anywhere in the world!
ADDITIONAL COVERAGES
• Building additions and alterations: The standard limit
is up to 10 percent of your personal property limit for improvements or
installations
you’ve made to your apartment (or acquired at your own expense).
•
Credit cards: If you’re obligated to pay funds due to theft
or unauthorized use of your credit cards or fund transfer
cards, you generally have $500 coverage, with no deductible.
Also covered are forgery
and counterfeit currency.
•
Fire department service charge: We’ll pay up to $500—with
no deductible—for charges you incur each time you
require these services to save or preserve the property
you insure with
us.
• Loss of use: If a fire or other covered
loss makes it temporarily impossible for you to live in your
apartment, your policy
pays for the extra living expenses you incur until repairs are completed.
Plus, we can provide coverage for losses and expenses
related to: trees and shrubs you own; removal of
debris; property
that must be
removed from your premises to preserve it; repairs
you make to protect your property against further damage;
loss assessment;
collapse;
and glass breakage.
LIABILITY COVERAGES
•
Personal liability: You don’t want to go out the door without
this coverage. If you are ever faced with a claim
or lawsuit for injuring others or damaging others’ property,
this coverage pays up to your liability limit for damages awarded
to the "injured" party.
Coverage extends to family members in your household,
and stays with you wherever you are—at home, walking down
the street, on the golf course and on vacation anywhere
in the world. The policy
will
also pay the cost of defending you, even if the claim
or suit is groundless.
•
Medical payments to others: This "goodwill" coverage
pays medical expenses—up to $1,000 per person—for
anyone (other than a family member who resides with you) who
is accidentally injured
on your property, whether or not you caused the injury.
Also covered—again,
up to $1,000 per person—are medical expenses
for anyone injured off your premises if you are liable.
Higher limits are available.
Your best bet, if you own a condo or co-op,
is a "unit-owners" (HO-6)
homeowners policy.
STANDARD PROPERTY COVERAGES
Dwelling: Since insurance coverage
on your condominium or apartment building is normally purchased
by your association, your dwelling coverage focuses on real property
within your living quarters. Condo policies provides coverage—up
to the specified limit—on a replacement cost basis
and insures items in these six general categories:
• Alterations and improvements: Your built-in cabinets, book shelves,
appliances and interior partitioning are ideal examples.
• Property exclusive to your residence: Includes items
of real property pertaining solely to your condo or apartment, such as upgraded
doors or safety locks.
•
Common areas: If your association by-laws require
you to insure property outside your residence, such as a portion
of your hallway
floors
or stairs, entranceway or sidewalk, you’re protected
under your dwelling coverage.
• Structures you own that are located off premises: A
private garage or storage shed you own that is located in another part
of your building complex would be covered.
•
Personal property: Your personal belongings,
and those of other family members residing with you, are
insured on an actual cash
value basis
up to the coverage limit you select. These items
are covered wherever they happen to be—at home, in transit, in storage,
anywhere in the world!
• Loss of use: Covers generally 20 percent of your dwelling
coverage limit for extra living expenses you incur if a fire or other
covered loss makes it temporarily impossible for you to live at home.
ADDITIONAL PROPERTY COVERAGES
•
Credit cards: If you’re obligated to pay funds due to theft
or unauthorized use of your credit cards or funds transfer
cards, generally, the policy covers $500, with no deductible. Also
covered are forgery and counterfeit currency.
•
Fire department service charge: Usual coverage is $500—with
no deductible—for charges you incur each time you require
these services to save or preserve the property you insure
with us.
• Loss assessment: If your activity center, swimming pool,
golf course or other community grounds or buildings suffer damage, you’ll
have $1,000 coverage to help pay for your share of repairs.
LIABILITY COVERAGES
• Personal liability: You don’t want to go out the door without
this coverage. If you are ever faced with a claim or lawsuit
for injuring others or damaging others’ property, this coverage
pays up to your liability limit for damages awarded to the "injured" party.
It will also pay the cost of defending you, even if the suit
is groundless.
• Medical payments to others: This "goodwill" coverage
pays medical expenses up to $1,000 per person—for
anyone (other than a family member who resides with you)
who is accidentally
injured on your property, whether or not you caused
the injury. Also covered
are medical expenses for anyone injured off your
premises if
you are liable
Greylock Insurance Agency
Mon-Fri: 8:30 to 5:00
128 South Street, Pittsfield
(413) 443-5943
(888) 200-4445
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