Home Owners and Renters Protection

For many of us, our home is the biggest asset we will ever invest in.  Protecting that asset against a loss is something we are committted to helping our client do.  Many mortgage companies are requiring home insurance as part of their financing agreements, and we would feel priviledged to help you lower that cost and make it easier for you to be a proud homeowner!  Although homeowners insurance can sometimes be a daunting, at Steffey Insurance you will have a licensed agent sit down and thoroughly explain to you the nuances of your coverage.  We assure that you will feel confident in the safety over your assets after you visit our offices!

Home Basics

The steps and coverages of home insurance are relatively simple in theory.  The first step we take is to run a cost estimator.  This allows us to plug the specifications of your home into a program, which in turn tells us at what value you home needs to be insured.  One common misperception is that this figure is the MARKET VALUE of your home.  This perception is false.  The dwelling amount (value at which your home is insured) is the cost it would take to replace your home from the ground up, including debris removal.  This figure is not suppose to reflect the price at which you bought your home or what you could sell if for in the current market.  These cost estimators tend to be very accurate, and if not, most insurance companies will go above and beyond the set dwelling amount if needed.  The dwelling amount sets the price point for the premium of your home insurance.  The dwelling amount also sets the coverages for personal property (contents inside home) and other structures (detatched garage, barn, etc.).  Personal property and Other structures coverage are determined by a percentage of the dwelling amount which varies between companies.  The rest of the policy premium is usually determined by the customer.  How much basement coverage do you need?  Do you need coverage for expensive jewelry?  There are many possibilites to add on or make what we call endorsements to your policy.  Your home insurance policy should be customized to reflect YOUR needs.  Let us help!