Insuring Your Home Properly: Important Issues to Consider

Security First Insurance Company offers a variety of insurance products to cover your home or property.

When insuring your home, there are some very important issues to consider. One of the most important is insuring your home to its proper replacement value.

In the event of a total loss, you will need to rebuild. To determine the most accurate replacement cost for your home, our agents use the Marshall & Swift / Boeckh Replacement Cost Estimator. This powerful tool allows your agent to calculate as accurately as possible the construction costs of rebuilding your home.

Credits and deductibles are two more important issues for you to discuss with your agent. Properly applied credits and deductibles allow you to maximize your coverage while minimizing your premium. Paying higher deductibles reduces premium amount. Qualifying for credits also will reduce your premium. Your home can qualify for credits based on the year it was built, the type of construction, having an alarm system, or being near a fire station or fire hydrant, among others.

One of the most important credits you should discuss with your agent is the windstorm loss mitigation credit. Your home may be strengthened against storms and you may not even know it. Depending on the year your home was built or the mitigation upgrades added to it, you may qualify for significant savings on your premium. Be sure to discuss windstorm loss mitigation with your agent.

Security First Policies
(All policies are effective for one year)

Homeowners 3 – Special Form Policy: Owner-occupied dwellings from one to four units in one structure, including townhomes.

Homeowners 6 – Unit Owners Form Policy: Owner-occupied condominiums.

Homeowners 8 – Modified Coverage Form Policy: Custom Policy for older or specialty homes. Please be sure to discuss valuation issues with your agent. HO-8 policies are generally written for the actual cash value of your home. This can differ greatly from the replacement cost of your home.

Dwelling Property 3 – Special Form Policy: Dwelling Fire policies are used for residential rental properties. Policies can be written for up to four units in a single structure.