Homeowners, Condo Unit-Owner's and Renter's Insurance

Homeowners, Condo Unit-Owner's and Renter's Insurance

Your home is your single biggest asset. It’s not only your piece of the American dream, but a place for first steps, graduations, birthday parties and holiday gatherings. It’s a place filled with memories, milestones, family heirlooms and treasured possessions. Your home deserves complete protection from Garrity Insurance.

Homeowners, Condo and Renters Insurance Cambridge Massachusetts

Understanding Homeowners Insurance

Most homeowner’s insurance policies are standardized and usually protect your home and personal property from the following “perils insured against”:

  • Fire or Lightning
  • Windstorm or Hail
  • Explosion
  • Riot or Civil Commotion
  • Aircraft
  • Vehicles
  • Smoke
  • Vandalism or Malicious Mischief
  • Theft
  • Falling Objects
  • Weight of Ice, Snow or Sleet
  • Accidental Discharge or Overflow of Water or Steam (from within a plumbing, heating, air conditioning or automatic fire protective sprinkler system or from within a household appliance)
  • Sudden and Accidental Tearing Apart, Cracking, Burning or Bulging (of a steam or hot water heating system, an air conditioning or automatic fire protective sprinkler system, or an appliance for heating water)
  • Freezing (of a plumbing, heating, air conditioning or automatic fire protective sprinkler system or of a household appliance)

If you own a condominium, rent an apartment or have multiple homes, you can purchase insurance specifically designed to meet your lifestyle and needs. Options include:

Rental Properties: Garrity Insurance can provide you with property and liability coverage for dwellings rented to others which are not eligible for standard homeowner’s coverage.

Condominium Unit-Owners & Renters: Keep in mind that if you rent an apartment or own a condominium, your landlord or condominium association’s insurance only protects the building - not your personal belongings. You need your own insurance to protect your personal property, valuables and liability. There are several types of property insurance policies. The HO-4 policy form is designed for renters, while the HO-6 policy form is for condominium unit-owners.

Secondary and Seasonal Homes: Secondary and seasonal homes require insurance that some companies don’t offer. At Garrity Insurance we will assist you in locating the best possible coverage for this type of property.

OPTIONAL COVERAGES

Scheduled Items

Coverage for the theft of jewelry, watches, furs, silver, collectibles and other valuables is limited – sometimes as low as $1,000. “Mysterious disappearance” (i.e. losing a piece of jewelry) is also not covered under a standard homeowners policy. Higher limits and enhanced coverage is available upon request. Appraisals may be required.

Water Back-Up / Sump Overflow

There is limited coverage available under a standard homeowners policy for the back-up of sewers or drains or sump pump overflow. Higher limits may be purchased at an additional cost.

Earthquake / Earth Movement

Earthquake and earth movement is excluded on most standard homeowners insurance policies. You may want to consider adding an earthquake coverage endorsement to your homeowners insurance policy. The earthquake coverage endorsement would cover damages caused by earthquakes, landslides and other earth movements. Higher deductibles would apply.

Fuel Spill Coverage

Property and liability coverage for fuel spills / oil leaks is excluded under most homeowners insurance policies. Coverage can be added to your policy at an additional cost IF your home was built after 01/01/1990 or for home owners with homes built prior to 01/01/1990 who have complied with the new Massachusetts law effective 07/01/2010 that requires an upgrade to prevent leaks from tanks and pipes that connect to a furnace.

WAYS TO SAVE

Discounts

Insurance companies offer a variety of ways to reduce your premium. Discounts are available for those with protective devices such as central burglar and fire alarms, those with multiple policies with the same company, those that have recently renovated or updated their home’s electrical, heating or plumbing systems and other factors that reduce the risk or extent of damage.

The amount of these savings may vary from company to company and insurance companies create new and improved discounts each year. Many discounts may also need to be validated each year upon the policy renewal for continuation of the discount. It is best to contact us each year upon renewal to review your policy for discount eligibility.