Homeowner’s insurance provides various types of coverage. Knowing these can help you understand exactly what’s protected. Most homeowner’s policies in New York include the following types of standard coverage:

Dwelling (home structure)
This type of insurance is what can help protect the physical structure of your home, like the walls and the roof.

Other structures
This type of insurance can help protect the physical structure of buildings on your property that are separate from your home, such as a shed or a stand-alone garage.

Personal property
Personal property coverage can help protect the belongings inside your home, which can include belongings like furniture, bicycles, stereos and more. If these belongings are stolen or damaged outside of your home, personal property coverage could also help you replace them.

Loss of Use
This coverage provides you with additional money you may need should your home become uninhabitable due to a covered loss.  Examples would be money to rent an apartment or motel, additional costs associated with boarding pets, increase in costs for food.

Liability protection
Liability insurance can help protect you if someone makes a claim against you or sues you for damages after being injured on your property.

Guest medical protection
This type of coverage can help cover the cost of medical expenses for a person who’s injured on your property.

Additional Coverages
Replacement cost coverage on contents; Scheduled coverage on jewelry, furs, antiques, silverware, guns, boats, musical instruments, etc.; Identity theft; Water backup; Business property

Fingar Insurance has been insuring secondary and seasonal homes for many years.  We represent companies that will insure them along with your Primary Residence/Apartment/Condo as well as on a monoline basis.

Dwelling (home structure)
This type of insurance is what can help protect the physical structure of your home, like the walls and the roof.

Other structures
This type of insurance can help protect the physical structure of buildings on your property that are separate from your home, such as a shed or a stand-alone garage.

Personal property
Personal property coverage can help protect the belongings inside your home, which can include belongings like furniture, bicycles, stereos and more. If these belongings are stolen or damaged outside of your home, personal property coverage could also help you replace them.

Loss of Use
This coverage provides you with additional money you may need should your home become uninhabitable due to a covered loss.  Examples would be money to rent an apartment or motel, additional costs associated with boarding pets, increase in costs for food.

Liability protection
Liability insurance can help protect you if someone makes a claim against you or sues you for damages after being injured on your property.

Guest medical protection
This type of coverage can help cover the cost of medical expenses for a person who’s injured on your property.

Additional Coverages
Replacement cost coverage on contents; Scheduled coverage on jewelry, furs, antiques, silverware, guns, boats, musical instruments, etc.; Identity theft; Water backup; Business property

You can help protect your mobile or manufactured home, your belongings and your family. The coverage for mobile and manufactured homes is similar to a homeowner’s insurance policy, but there are some differences.  We can help you understand what a mobile home insurance policy can protect.

When you’re thinking about purchasing insurance for your mobile or manufactured home, it’s helpful to understand what your policy protects. Most mobile home insurance policies include standard coverage types, such as:

Personal property coverage
Covers your personal belongings if they’re stolen or destroyed by a fire, theft or other covered peril. It includes things like clothing, furniture, your laptop and other electronics—though you may want to opt for scheduled personal property coverage for especially expensive items and collections.

Scheduled personal property
If something happens to your high-priced belongings, this covers them beyond the limits of what your personal property coverage will pay. You can add it to your policy to help cover an expensive piece of jewelry, your collection of audio equipment or other pricey items you own.

Loss of Use
Helps pay for your increased living costs if a covered loss makes your home uninhabitable. That typically includes things like food and a temporary place to live.

Liability coverage
Covers legal expenses, medical bills and other damages if someone gets injured at your place and sues you.

Guest medical coverage
Covers reasonable and necessary medical expenses, like the cost of x-rays or an ambulance, if a person injures him- or herself in or around your place.

There’s a lot worth protecting within the walls of your place. If there’s a fire or theft, your landlord’s insurance policy will not cover your possessions. It’s a smart idea to learn about renter’s insurance coverage and how it works so you can make the best choices for your situation. An agent will be happy to walk you through:

Personal property coverage
Covers your personal belongings if they’re stolen or destroyed by a fire, theft or other covered peril. It includes things like clothing, furniture, your laptop and other electronics—though you may want to opt for scheduled personal property coverage for especially expensive items and collections.

Scheduled personal property
If something happens to your high-priced belongings, this covers them beyond the limits of what your personal property coverage will pay. You can add it to your policy to help cover an expensive piece of jewelry, your collection of audio equipment or other pricey items you own.

Loss of Use
Helps pay for your increased living costs if a covered loss makes your home uninhabitable. That typically includes things like food and a temporary place to live.

Liability coverage
Covers legal expenses, medical bills and other damages if someone gets injured at your place and sues you.

Guest medical coverage
Covers reasonable and necessary medical expenses, like the cost of x-rays or an ambulance, if a person injures him- or herself in or around your place.

When you own a townhouse, condo, co-op or condo-op your condo association plays an integral role in determining what kinds of insurance coverage you need. Some complexes’ master policies only cover the exterior building and common areas, while others take care of things like your flooring, cabinetry or light fixtures.  In either case, you’re responsible for keeping yourself and your personal belongings safe.

What’s Your Stuff Worth?  An agent can answer your questions about common condo coverage types, like:

Personal property coverage
Covers the possessions inside your condo or townhome, like furniture, electronics and clothes, if they are damaged due to a fire, smoke, vandalism or other covered peril.

Liability coverage
If someone sues you after being injured on your property or if you damage their property/condo, this helps cover your legal costs.

Guest medical coverage
Covers x-rays, ambulance rides and other reasonable and necessary medical expenses if someone injures him- or herself while on your property.

Reimbursed living expenses
Reimburses you for additional living cost if a covered loss makes your condo or townhouse uninhabitable. It typically takes care of food, a temporary place to live and more.

Building improvements and betterments
Covers belongings that aren’t typically considered personal property, like cabinetry and appliances. These items are occasionally already covered on your condo association’s master policy, but upgrades are not.

Loss assessment coverage
If something happens to your condo’s shared building or common areas that exceeds the condo association’s insurance limits, all unit owners may be required to pay an assessment toward repairs. This add-on covers your share of the loss assessment.

Flood insurance coverage can help you protect your property and your belongings. The National Flood Insurance Program (NFIP) determines coverage and premiums, but when you purchase a flood policy from Fingar Insurance, you’ll get the support of a knowledgeable agent and service you can count on.  A flood insurance policy can help protect your house, condo, apartment, mobile home or even your business. Most flood insurance policies can include three types of coverage: building, contents and replacement cost coverage. Each of these coverage options offers different kinds of protection.

Building coverage
This protects the physical structure of your home or non-residential property.

Contents coverage
This covers your belongings—the items inside your home. Some examples include clothing, furniture, microwaves and grills.

Replacement cost coverage
This coverage helps reimburse you for the cost of replacing your home. Replacement cost coverage is only available to owners of single-family, primary residences that are insured to within 80 percent of the total replacement cost.  Your flood insurance could also help cover the cost of items, like sandbags, used to protect your property from the imminent danger of a flood. Contents coverage and replacement cost coverage is not included in all polices. Be sure to speak to Fingar Insurance to understand what is covered and what isn’t in your specific policy.

Homeowner’s insurance policies have limitations on coverage for higher value items like antiques, jewelry, furs, guns, musical instruments, silverware, collections etc.  These items can be insured on an Inland Marine policy that is attached to your Homeowners insurance policy.  There are some options available when insuring scheduled items:

Agreed Value or Actual Cash Value – An Agreed Value policy guarantees the policy will pay the full insured amount of the item – with no depreciation – in case of a covered total loss. An actual cash value policy (sometimes called stated amount or maximum limit of liability) does not promise to pay this stated amount. In the event of a covered total loss, it may pay less than the stated amount, as the insurer has the right to pay the lesser of your item’s depreciated actual cash value (ACV) or its replacement cost. Also, many insurers that offer actual cash value policies require periodic appraisals to substantiate the insured amount,

Agreed value coverage is based on a stated value one pays what you have it insured for while the other may depreciate it at the time of a loss

Scheduled or Blanket Items – you can insure a class of items such as Blanket Jewelry or Schedule each item such as 1 Ladies Diamond Engagement ring.  Typically blanket coverage has a sub limit it will pay a max on any one item.

Breakage coverage – Accidental damage coverage is for loss or damage of an accidental nature, such as knocking a can of paint over, destroying a carpet, or smashing a valuable vase. Breakage coverage included in some policies and is an option on others. Talk to us to be sure to have the coverage that is right for you.

When the property you own is also a source of income, protecting it against loss is even more important. You have many coverage options to choose from—some come standard and others are add-ons.  Talk to us about what landlord coverage types are available to you.

Dwelling protection
Covers your rental property and the structures attached to it, like a deck, if something should happen to them.

Other structures protection
Covers garages, sheds and other buildings that is separate from your rental property.

Liability coverage
Liability coverage covers you if you’re sued after an accident, damage or loss related to your property. For example, you might be subject to a lawsuit if your tenant injures himself on broken stairs in your rental. Liability coverage typically also covers the cost of your legal defense as well as the cost of a potential judgment against you.

Loss of Rents
Loss of rent coverage helps pay the rental income you would otherwise lose if your rental becomes uninhabitable due to a covered loss and your tenants have to move out. You can keep the money coming in for up to 12 months while the unit is being repaired or rebuilt.

Premises medical protection
This type of coverage can help pay for reasonable and necessary medical expenses if someone is injured in an accident on your rental property.

Vandalism coverage
If your rental is vandalized, this add-on can help cover the cost to repair or replace what was damaged. It also provides coverage for belongings used for the rental property.

Burglary coverage
In the event of a burglary, adding burglary coverage to your landlord insurance policy could help pay for the repairs or replacements your dwelling needs. It covers belongings used for your rental property as well.

Rental property under construction
If you’re renovating a rental property or building a new construction, this additional coverage could help cover the dwelling before it’s ready for occupancy.

Building code coverage
When you’re fixing things up after a covered loss, adding building code coverage to your landlord policy could help cover the increased cost of enforcing any building codes, ordinances or laws regulating the construction, reconstruction, maintenance, repair or demolition of your dwelling.

Umbrella liability coverage is an extra layer of very affordable liability protection over existing homeowners, renters and auto insurance policies.  Let’s say a guest is injured in your home, apartment, condo or mobile home. And that guest sues you for $1 million dollars because the accident happened on your property. It’s likely your property insurance includes some liability coverage to help protect you in an event like this. However, that liability coverage has a maximum limit, and you may owe more than that. If you have personal umbrella insurance, it could help cover you beyond your other policies’ limits.

Why Would You Want Personal Umbrella Insurance?
Personal umbrella insurance isn’t just for wealthy people. If you’re sued, all of your assets could be at risk, such as your retirement accounts, your children’s college fund and any real estate assets you have. Purchasing personal umbrella insurance can help protect those assets if you’re found liable in an accident.

Understanding Personal Umbrella Insurance Details.
Typically, a personal umbrella policy offers limits between $1 million and $5 million – higher limits are available if needed. Your policy could also help cover you in the following situations:

• If you’re sued over an incident covered by your personal umbrella insurance, the policy may retain and pay for your attorney.
• You’re protected even when you’re out of the country.
• You could be covered for any wages lost due to a court appearance up to the limits specified in your policy.