Is your home important to you? You bet it is!
Millhiser Smith offers policies that are easy to customize to your individual needs. Homeowner's provide both property and liability coverages for maximum protection. Items such as fine arts, jewelry and computers can be individually tailored to fit your needs. Special protection programs are also available for items such as guaranteed replacement cost on your dwelling.
What we offer:
- Homeowners
- Condominiums
- Renters
- Vacation Homes
- Rental Dwellings
- Mobile Homes
- Flood Insurance
- Umbrellas
Additional Coverages:
- Water/Sewer backup
- Scheduled items such as jewelry, furs, firearms, computers, etc.
- Identity theft coverage
- Ordinance Law coverage
- In-home business coverage
Questions and Answers:
How do I determine my homeowner's coverage?
Your first step in determining the right homeowners coverage is estimating the replacement cost of your home. The second step is selecting the coverage amount that best fits your needs. We recommend that you purchase an amount of coverage equal to the estimated replacement cost. Determining your home's estimated replacement cost is important because this will ultimately determine which policy options are available to you. Since it is impossible to predict today what the exact cost will be to replace your home in the future, it's important to have enough coverage to account for unforeseen circumstances.
What is the difference between market value and replacement cost?
When you experience a covered loss, your insurance company will pay the "replacement cost" of the damaged property up to the coverage limits. “Replacement cost” is the amount needed to repair the damage or to rebuild the home to its pre-loss condition. The replacement cost of a home is NOT the market value of the home, its purchase price or the outstanding amount of any mortgage loan. It does not include the value of the land, but is the cost of rebuilding your home. New improvements or required upgrades are also not accounted for in the replacement cost.
What are some important things to consider when determining the coverage amount?
Your home's estimated replacement cost is different than its market value (real estate cost).
Each time you remodel or improve your home, you should adjust your coverage amount accordingly.
If your home is made of unique building materials, make sure they are reflected in your replacement cost estimate.
Stay abreast of the fluctuating building costs in your area and update your coverage amount accordingly.
Make sure that you maintain coverage at 100% of your home's estimated replacement cost at all times.
It is important to review your coverage annually and inform your agent of any changes you'd like to make.
Should I purchase flood coverage?
If your property lies in a flood plain as determined by US Government Flood Maps. Ask your independent agent about a flood quote.