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Homeowner Insurance

Homeowner Insurance

Buying a home is likely the biggest purchase of your life. It’s important to protect yourself, and your family, from any loss you may suffer. Although insurance can never replace what you may lose, it can help to restore your position financially. A homeowner’s policy bundles different insurance coverages to provide a broad range of personal property, dwelling, and liability protection for homeowners and renters. It is called a package policy because it covers both losses to your own property and damage done to others. Contact us today and we will fit you with the right policy.

Coverage Tips

We recommend that you carry at least an HO-3 form in order to provide all peril coverage for your home and other structures. Anything below an HO-3, such as an HO-1, will only provide you with coverage for a limited number of stated perils.

You have two options when writing a homeowner policy. You can either write it based on actual cash value or replacement cost. Actual cash value will only pay you the cost to replace the home today minus any depreciation it may have experienced over the years. Replacement cost, however, will reimburse you for the actual amount it will cost you to rebuild/replace the part of the home that has been damaged. We strongly recommend that you purchase a policy with replacement cost.

Owning a home and property increases your chance of being held liable for another’s loss. The minimum liability protection that we suggest, to safeguard against such a loss, is at least $300,000.

Buying a homeowner policy can be confusing. Below is a chart that briefly describes the kinds of coverage you may want to purchase.



A: Dwelling

Your home – the building itself.

B: Other Structures

C: Contents

Your detached garage, shed (10% of Coverage A).
Clothing, TV, stereo, etc. (50% of Coverage A).

D: Loss of Use

Reimbursement for additional living expenses incurred from a covered loss (20% of Coverage A).

E: Personal Liability

On or off premises.

F: Medical Pay

On premises, coverage for someone other than insured if hurt or injured on your property.

“Buying a home was the biggest purchase of my life. I went to William Orband Insurance to protect my investment. I highly recommend working with Bill who can use his decades of expertise to give you peace-of-mind”

– Jim O. – Vestal, NY

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