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Seasonal Home Coverages

2015-08-14 15:17:00

Memorial Day each year kicks off the “lake season”. Weekends filled with tubing, SPF 50, wakeboarding, family adventures, Zorbaz pizza and late night campfires with smores.

Unfortunately, it also comes with hail storms, wind, and boating accidents. But we have to take the good and the bad.

We recommend checking your lake home policy for a few things for protection all year:

  • All owners of the home or property are named on the policy
  • Home value confirmed with a replacement cost report provided by your agent
  • Confirm which type of claims you have coverage for:
    • Comprehensive coverage - covers most losses unless excluded (Best coverage available)
    • Named peril coverage - covers losses specifically named in your policy
  • Minimum of 125% home replacement cost to protect against supply and demand for rebuilding after a claim
  • Replacement coverage on contents
  • Double check the contents limit is accurate for all your belongings inside
  • $500,000 or higher liability limit
  • $5,000 limit or greater for medical payments if someone is injured on your property
  • Ask your agent how your docks and lifts are covered, you might need additional coverage
  • If a condo, $50,000 loss assessments coverage to protect against claims submitted to the condo association
  • Coverage on all toys (boats, atv’s, jet skis, tractors, go carts, scooters, motorcycles)
  • Consider purchasing an umbrella policy for additional liability coverage.What is an umbrella policy?

Depending upon your situation there might be more coverages needed. Talk with your agent about this list and go over your policy in detail. Contact our office if you have questions or want to discuss quotes for your property.  info@warnerandcompany.com and phone is 701-2378-6414.

Hope to see you in the lakes area.