Home Insurance

Available in all 50 states

Bankers Insurance is an independent insurance agency, so you know we have your best interests at heart. We are contracted with many insurance companies – over three hundred at last count. Working with them daily, we are familiar with the strengths of each. We will quote your home insurance with the ones best suited for your needs. Know your options – be empowered.

We Offer

  • Expertise with prompt, courteous service.  Each one of our clients is assigned an agent in our office and given their email address along with a phone number that rings right on their desk.
  • Many insurance companies available
  • Best prices in the industry
  • Single policies or packages with auto
  • Many deductible options, you choose
  • Discounts apply

 We can insure

  • Any size or value
  • New or old homes
  • Coastal, even pier foundations
  • Stick Built, modular, or mobile
  • Seasonal Homes
  • Secondary Homes
  • Rentals
  • Farms

Speciality

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At Bankers Insurance, the client is always in control.

Enjoy your home. Let us ensure it is properly protected.

We offer home insurance from many national and regional carriers. As an independent insurance agency, we want you to have the best coverage at the lowest price. Why waste time talking to several different companies who can only provide one option each? With Bankers, you communicate with one agent who will shop your coverage with the best companies and present you with quotes. We are your insurance advocate.

And should you decide to put coverage into effect, you will be assigned an insurance agent in our office, given their email address, and a phone number that rings on their desk. Every home is different. How much and what kind of coverage is right for you? Lean on us to provide answers to your toughest questions. Let us be your trusted insurance agent.

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Home Insurance Coverages

home insurance dwelling structure

Home

Coverage well beyond the physical structure of your home.

  • The main dwelling – the residence on the premises.
  • Other structures attached to the dwelling, such as a garage or portico.
    • If only attached by a fence or utility line, such a structure would be covered under the Other Structures portion of the policy.
  • Equipment permanently installed in the dwelling, such as
    • heating systems
    • central air
    • water heater

home insurance other structures

Other Structures

Buildings or structures separated from the main dwelling. These may be connected by sidewalk, utility, or fence, but are still considered separate structures. Coverage for them is usually set at 10% of the main dwelling, but should be increased when needed. It is not uncommon for a barn or utility building to cost almost as much as the dwelling! Avoid a co-insurance penalty by obtaining adequate coverage.

  • Detached garage
  • Swimming Pools
  • Barnes & Stables
  • Outbuildings
  • Gazebos
  • Workshops
  • Fences

home insurance contents

Contents and Personal Property

Items in the home, not a part of the structure.

  • Furniture
  • Appliances not permanently attached (washer, dryer, refrigerator)
  • Tools
  • Garage contents (no cars/boats)
  • Electronics
  • Sports equipment
  • Clothing and linens
  • Decorations, artwork
  • Antiques, fine art, jewelry, and collections are subject to limitations, but can be expanded.  See Coverages Commonly Increased below.

home insurance other coverages

Coverages Commonly Increased

Most homeowners insurance policies include limitations on high-value items. Higher limits are available and should be sought when appropriate. Let your agent know if you have concerns regarding coverage for:

  • Fine arts
  • Antiques
  • Electronics (cameras, laptops, tablets)
  • Jewelry, watches, furs
  • Firearms
  • Medical devices (hearing aids, CPAP)
  • Silver (including silverware), gold, bullion, and currency
  • Securities, accounts, deeds
  • Watercraft

Home Insurance Liability

Personal Liability

One of the most valuable and least expensive coverages offered by homeowners insurance is personal liability. It protects you against liability for bodily injury or property damage (hurting someone or something). For example, if a bannister were to give way and a guest be injured, a court could hold you liable for failing to maintain a safe premises. The personal liability portion of your home insurance policy would protect you. This coverage is not limited to your premises. In another example, if while window shopping your child knocks over a display stand, destroying its contents and injuring someone, your personal liability coverage would respond. We suggest limits of at least $500,000 and strongly recommend personal umbrella insurance of $1,000,000 or more.

Medical payments are part of personal liability and cover necessary medical expenses for someone injured on your property, or by you, but without liability being assigned. Think of it as a courtesy. Even if you aren’t to blame for the injury, your policy provides medical payments to cover necessary bills. This practice carries the added benefit of helping to keep claims from becoming court cases. Typical limits are between $2,000 and $5,000.

Other Coverages

Homeowners insurance policies do not all provide the same protections. Most include the following coverages or allow them to be added for an additional fee. This is where an independent insurance agent can offer valuable advice and help ensure you have the coverages necessary. Review your policy and consult your agent with questions.

  • Loss of use:  Additional living expenses such as temporary rental of an apartment or other premises while repairs are performed. If the dwelling is regularly rented, loss of rental income is considered a part of this coverage.
  • Contents 0ff premises:  Possessions in a storage unit, offsite, or in a vehicle.
  • Sewer backup
  • Mechanical breakdown of home-related equipment, such as heating, air conditioning, swimming pool, and even major appliances
  • Spoilage of refrigerated property
  • Identity theft:  Repair damage as a result of theft of your identity, including credit monitoring.
  • Debris removal:  Expenses to haul away damaged property.  For example, if a home caught fire and was declared a total loss, this coverage would pay to remove the old structure before construction could begin.
  • Tree removal:  Most policies cover the removal of a tree from a covered structure only – home, garage, shed gazebo, etc. In other words, if you have a big yard and a tree falls in it, your policy does not cover removal of such trees.
  • Fire department service charges
  • Property removed to prohibit further damage
  • Credit card theft, forgery, or alteration

Items Not Covered

Exceptions exist, but most home insurance policies do not cover the following:

  • Trees and shrubs
  • Vacant Land – however liability for vacant land or other properties can commonly be added to an insurance policy.
  • Any property used for business
  • Any liability associated with a business
  • Animals, birds, or fish
  • Motor vehicles
  • Aircraft
  • Property of tenants
  • Damage due to earthquake.
  • Damage due to flood.  See our Flood Insurance page.

Common Questions

Q:  What’s the difference between Insured Value on my home insurance policy, and the market value of my home?

A:  Home insurance is concerned with putting your home back the way it was – the cost of repairing or replacing the home. Depending upon your area, the market value may be significantly higher or lower.  If the market is low in your area, homes are likely selling for less than what they would cost to build.  In such a situation, the insured value of your home will be higher than the market value. Why? Because if your home is destroyed, you still need to build it back. That is what the insurance policy does. The opposite can also be true, depending upon where you live.

The main idea is to insure your home for what it would cost to replace your home, so replacement cost is your goal.  If you don’t know, ask a qualified contractor for an estimate.  We can certainly provide guidelines, but nothing beats a contractor’s expertise.

Q:  Am I penalized if I underinsure my home?

A:  The goal of insurance is to put your home back the way it was before the claim occurred. Insurance policies are built upon the assumption the coverage is adequate to do so. Thus, an underinsured penalty can occur if enough coverage was not purchased. There are allowances since most penalties do not kick in until you are underinsured by more than 20%. Check your policy or ask your agent for details. Reference these posts for more information:

Visit our Questions and Answers page for more homeowners FAQs.

Discounts

When purchasing homeowners insurance, coverage is important, but cost is a major factor.  Discounts offered by many insurance companies are a means of rewarding clients with lower premiums.  Besides deductible options, there are other means to help keep your home insurance costs down.  A few of the most popular credits include:

  • Auto insurance with the same insurance company
  • Smoke Alarms, burglar and fire alarms, or sprinkler systems
  • Deadbolt locks
  • Good claims history
  • Good payment history
  • Are a senior
  • Many others

Why Bankers Insurance?

Anyone can be an order-taker.  Bankers Insurance is different.

We offer choices and expertise.  We don’t expect clients to be home insurance experts.  Take advantage of our experience.  We can explain your options and help you determine the right coverages.

As your insurance agent, we strive to know you.   Only then can suggest the coverage that suits your specific home.  We look for coverage gaps to help ensure complete protection.  With us, you get the benefit of: