You’ve worked hard for your home and personal property, so protect them with a Homeowners policy from East Coast Motor Club.
East Coast Motor Club makes home insurance simple. Just fill out our easy online home insurance request form for a free, comprehensive, no-obligation quote. You can also call East Coast Motor Club at (718) 775-3621 or email us at Info@EastCoastMotorClub.com for your free, no-obligation quote anytime.
Don’t put off protecting your home when getting the information you need is so simple. Our quotes are free and don’t obligate you to purchase insurance from East Coast Motor Club.
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- New Homes Discount
- Security Systems such as deadbolt locks, central station and local alarm systems, sprinkler, fire extinguisher,and smoke detectors all offer discounts
- Package Policies: If you combine your automobile and homeowner policy with the same carrier you may get significant discounts
- Retired Discount
- New Home Buyer discount
- Updated Roof, electric system, plumbing, and heating discounts
- Green Discounts
- Paid in Full Discounts
Homeowners Insurance Coverage plans:
- Homeownwers Insurance- Coverage A-Dwelling: Covers your main home or dwelling. The policy limit is set by the policy owner when they buy the actual policy. A value is determined by the insured at that time. Our agency will make recommendations based off different carriers replacement cost estimators. Replacement cost estimators are calculators that are used to determine the replacement cost of a home. Rebuilding is expensive and Replacement cost is a good idea. You want your home to be exactly what is was before damages. Repairs with depreciation factored in is known as Actual Cash Value. It is a good idea to go over the amount of coverage yearly to make sure your home is always insured for the proper amount. Actual cash value is the amount it would take to repair or replace damage to your home after depreciation. Replacement cost at 100% percent of value is recommended . Homes can also be insured for 125%, 150%, or Guarenteed Replacement cost
- Homeowners Insurance – Coverage B – Other Structures: Coverage structures that are not part of the main structure. These include garages and sheds ,guest houses and any other structure not permanently attached to the home . Coverage B is usually equal to 10 percent of the policy limit on Coverage A. some carriers offer discounts when you buy down Coverage B. If you do not have any large detached structures on the property, this can provide some savings off the premium.
- Homeowners Insurance – Coverage C – Personal Property: This covers your all your personal items in your home. The contents can be covered for their actual value or the amount to replace them. Ask your agent for specifics, as sometimes certain items are not covered by this portion of the policy. Examples would be Jewlery, Fine Arts, Furs, China, Crystal, Silverware, Musical Insrtuments, and other collectables. These items can be schedualed on individaully or covered under a separate blanket policy.
The policy limit on Coverage C can be anywhere from 40 to 70 percent of the policy limit on Coverage A, depending on the carrier. Once again you may choose Replacement Cost or Actual cash Value. Many insurers offer an option to insure your belongings at replacement cost. Special items such as jewelry can be covered with a special floaters policy
- Insurance Coverage D – Loss of use or Additional Living Expenses: This coverage pays for your living expenses while your home repairs are being made and you are unable to live there. You can stay in a hotel or rental property depending on the time needed to return. Food and even your mortgage payments can be covered by this coverage. Ask your agent for details on your policy
- Insurance Coverage E – Personal Liability: This coverage protects you against a claim or lawsuit from an accident that takes place in your residence. You select the amount of coverage at policy inception. The limit can be anywhere from $100,000 up to $1 Million. Additional limits of libability can be purchased with an Umbrella Policy. Ask your agent for details.
- Insurance Coverage F – Medical Payments to Others: pays for the medical expenses for persons accidentally injured on your property.
Insurance Policy Forms
Types of policies: All Risks and Named Perils.
When certain perils are listed in a policy, this is known as a Named Perils policy. Such perils are fire, wind and hail. All Risks policies cover losses that are due to most perils. Only perils that are excluded are not covered. Ask your agent for the difference between All Risks and Named Perils.
HO-1, HO-2, HO-3, HO-3 with HO15 and HO-8 are the different types of homeowner policies.
- HO-1 This basic form has been discontinued in nearly all states because buyers demanded the broader coverages available in the other ISO homeowners forms. Homeowner Insures your property against the following 11 basic Named Perils: fire/lightning, loss of property removed from premises endangered by fire or other perils, windstorm/hail, explosions, riot/civil unrest, aircraft, vehicles, smoke, vandalism/malicious mischief, theft, and breakage of glass constituting.
- HO-2 Broad Basic Homeowner coverage that is more extensive then the HO-1. It Insures your property like an HO-1 but adds an additional 7 perils.
- HO-3 Special This is the most common form. Extended Homeowner Provides for comprehensive coverage (All Risks) . Personal prepoerty special form must be added through endorsement to apply an all risk coverage to your personal property
HO-4 Renter’s Coverage Insures your household contents and personal belongings against the named perils. It also provides coverage for additional living expenses and includes personal liability protection. Premium is based off the amount of personal property you have insured
- HO-5 Is the best policy you can buy as it provides the broadest coverages. It is considered a premium or cadillac policy. It offers perils on an “all risk” basis
HO-6 Condominium Unit Homeowner Covers items not insured by the condominium association’s policy, such as, property damage to personal belongings, wall, floor and ceiling coverings, and any accessories not originally installed in the unit. Many times this is referred to as a walls in policy, as if the condo is detroyed you are responsible for the walls in. Sometimes there are exceptions were a condo has to be insured on another form as the insured is responsible for the outside of the building as well.
- HO-8 Homeowner Covers homes that have suffered extensive depreciation. Historical or architectural features may make the home more expensive than its market cost. This policy can creat a moral hazard as the replacment cost will be greater then the market value
Other Insurance Coverages
- Floaters or a Scheduled Personal Endorsement are additional policies that cover you for a variety of things. Jewelry, Furs, China, Crystal, Musical Insutruments, Firearms, collectables, and etc. The most common item would be insuring an engagement ring. You need a recent appraisal or purchase receipt to obtain the value of these itmes
- Blanket Endorsement Is used in place of a scheduled personal endorsement. Special items are covered with certain limits on items.
- Inflation Guard This lets your insurance company increase your Coverage A amount by 3% to 5% to protect you against inflation automatically at renewal.
- Guaranteed Replacement allows you to rebuild no matter the cost at your current location
- Guaranteed Contents Endorsement Covers items even though they were purchased before and have depreciated in value.
- Other Structures Endorsement Covers larger more elaborate structures for more so they can be replaced.
- Backup of Sewer and Drains/Sump Endorsement Covers damage to your home if sewers back up and cause damage.
- Off Premise Theft covers items that are stolen when they are way from your residence
- Increased Limits on Money and Securities Financial instruments are covered.
- Liabilty extended to a second residence.
- Business Pursuits Endorsement Extends liability coverage if you operate an at-home sales business or other small “franchised” ventures such as Tupperware and Avon. It does not extend coverage if you own the business.
- Home Daycare Endorsement Covers any liability claims if you operate a daycare in your home.
- Home Business Endorsement Extends liability coverage in your home if you operate a business in your home.
- Personal Injury Endorsement Extends liability coverage to you if you are sued for Libel, Slander, and Defamation of Character.
- Ordinance and Law Endorsement Extends coverage for additional costs of reconstructing your home to the current building code
- Watercraft Endorsement Extends personal liability and medical payments to watercraft
- Identity theft can also be added with certain carriers
- Credit Card Forgery and Depositors Forgery Coverage Endorsement covers Covers the loss, theft or unauthorized use of credit cards.
- Earthquake Insurance Endorsement Is available through most insurance companies. It is regarded as catastrophic coverage and usually has a deductible that is a precentage of your coverage. It prices vary on your location and the construction of your home
Flood insurance is not cevred under any standard or premium homeowners policy. A flood policy has to be purchased seperatly from FEMA. Coverage’s can range in price based off your flood zone or elevation of your home. Flood Insurance could be mandatory to qualify for certain mortgages depending on where your home is located. Please ask your agent for details as many times flood insurance can add a small amount of premium and offer a lot of additional coverage not included in your homeowners policy