Homeowners Insurance Adequate Protection HomeProtector Program Q & A About the Erie's Homeprotector Program Mastercover - Personal Catastrophe Liability Tenant - Tenantcover Identity Recovery Coverage

Homeowners Insurance

When most people hear the word “insurance” they think of their cars, but in many cases their home is the most important and expensive piece of property they own. Our agency offers a variety of comprehensive homeowners insurance policies to choose from and these plans can be tailored to suit your individual needs and budget.

ERIE’s HomeProtector policies automatically include a full complement of standard features that cover your dwelling, personal property and other structures. The policy also includes liability protection, loss of use and medical payments to others coverage. You may take advantage of higher deductibles, discounts and credits to reduce your insurance premiums, and you can add endorsements to your policy to broaden the protection limits even further.

Deductible

Paying for smaller claims yourself allows you to lower your homeowners insurance premiums by choosing a higher deductible. ERIE offers a choice of deductibles, including:

Discounts & Credits

• Multi-policy – By insuring your auto and home with ERIE, you will receive a discount on your auto premium as well as your homeowners insurance premium.
• New Home – Receive a discount if you live in a new home.
• Premises Alarm – This discount is applied to your premium if you have smoke detectors installed in your home.
• Sprinkler System Credit – If you install and maintain a sprinkler system, you will receive a credit on your homeowners premium.
• Life Multi-Policy Discount - You are eligible for an additional discount if a covered driver has a qualified Erie Family Life policy.

Endorsements

ERIE offers a variety of optional coverages to meet your individual needs and these can be added to your homeowners policy by endorsement for a minimal additional premium:

• Expanded Endorsement – You can increase the special amounts listed under the Personal Property Coverage section of your policy.
• Enhancement Endorsement – This endorsement increases the special amounts to even higher limits and includes these additional benefits:
  • Payment for direct loss caused by water or sewage that backs up through sewers or drains.
  • Payment up to an additional 10 percent of the amount on Dwelling Coverage for loss to trees, shrubs, plants and lawns on the residence premises.
  • Waiver of deductible shown on the policy declarations page for any loss from covered peril, exceeding $50,000.
• Additional Endorsements – In addition, some of the other available endorsements include:
  • Earthquake Coverage
  • Nurse’s Professional Liability
  • Personal Computer Coverage
  • Replacement Cost on Personal Property

If you would like a comprehensive review of our homeowners insurance program, please contact us.
 

Adequate Protection

Are you adequately protected?

For many of us, our home is a place of comfort and joy. Home is where the heart is. It's where we raise our families. It's the place we spend our hours decorating to make it our own. Oftentimes, it's also one of the biggest investments we make, and one we want and need to protect.

Regardless of a home's age, when rebuilding a home with severe damage there are costs associated with reconstruction that are not part of the original construction costs. As a result, these reconstruction costs need to be included in the insurance value to ensure adequate coverage to completely rebuild the house. Costs incurred to reconstruct a home include:

Over time, a homeowner may make changes to their home. Refinish a basement. Customize a kitchen or bathroom. Install a picture window. In addition, the effects of the economy and inflation cause the replacement value of your home to change over time. These changes add value to a home and directly impact the amount of insurance needed to fully protect your home.

To adequately protect your home, it's important that your policy information is up-to-date and accurate. By taking a few minutes to call us, we can update our policy records. The information you provide to us will help us get an accurate profile of your home - both inside and outside - and will be used to calculate the appropriate cost to reconstruct your home in case of a loss. With this valuable service, ERIE can ensure that our Policyholders are adequately covered.
 

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Q. Is there a difference between the selling price of my home and the amount of insurance I need?

A. The selling price, or market value, of a home is determined by factors such as the age and size of the house, it's physical condition and location and cost of the land. When insurers calculate the replacement value of your home, some of these same factors, like age and size of the house, are used for determining both the market value and the replacement value. However, a number of different are also used to determine replacement cost. In some instances, the market value of your home represents just one-half or one-third of the cost to rebuild. The amount of insurance you need to carry on your home is best represented by the replacement cost and not the market value.
 

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Q. What determines the replacement cost of my home?

A. Several factor are considered when determining the replacement cost of your home including:

• Local construction costs for building materials and labor
   
• Square footage of your home
   
• Year built
   
• Exterior features such as wall construction, the type of roof and exterior trim
   
• Style of house (ranch, two-story, etc.)
   
• Number of bathrooms
   
• Fireplaces and other special features like arched windows
   
• Weather the house, or parts of it, like the kitchen, were custom built
   
• Improvements to the home such as adding a second bathroom or a finished basement
   
• Central air-conditioning
   
• Attached garage

When a large loss occurs and the home must be rebuilt, several additional costs may be incurred. For instance, debris must first be removed before reconstruction begins. Contractors' and architects' fees that might not have been included in the original cost to build your home are part of the reconstruction cost. Building codes change and often require that contractors use different materials when reconstructing the home. Finally, if a contractor is rebuilding just one home, rather than multiple homes in one location with similar characteristics, they lose economies of scale therefore increasing the cost of reconstruction.

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Q. What happens if I am not adequately insured?

A. When a loss occurs, your family experiences devastation. During this time you don't want the additional financial responsibility that may result if you are not adequately insured. Policyholders often think they are only responsible for the insurance deductible. During the time you have owned your home, labor and building material costs have changed due to the economy and inflation. Remodeling you have done may not be reflected in the current dwelling value. Therefore, it's important that you have adequate insurance coverage to include all reconstruction costs.

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Q. How will the information I provide to you adequately predict the replacement cost of my home?

A. By providing us with up-to-date information about your home, you can have peace of mind knowing your family is protected if a loss occurs. The information you give us will enable us to determine the replacement cost estimate for your home. In the event of a loss, your home can be replaced with like kind and quality materials and restored back to it's original condition.

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HomeProtector Program

The ERIE's HOMEPROTECTOR Program

Since 1925, the Erie Insurance Group has committed itself to meeting the needs and exceeding the expectations of its Policyholders.  The ERIE has earned a reputation for pioneering and providing innovative coverages.

The ERIE's HomeProtector policies automatically include more than 50 Xtra Protection Features.  It is this innovative spirit that helps the ERIE set the standards for now and for the 21st Century.  Your Agent will be happy to show you an ERIE policy and point out the many Xtra Features.

Some of these include:

• Coverage up to $2,500 for loss due to theft, forgery or unauthorized use of a credit card and unknowingly accepting counterfeit money.
• Payment up to the Personal Property limit for loss of contents of a refrigerator or freezer on the residence premises from either power or mechanical failure.
• Reimbursement for fire extinguisher recharge (after a fire loss).
• Payment for replacement of automatic garage door transmitters which have been stolen.  Also, coverage is provided for the cost to reprogram the frequency on additional transmitters and/or the control unit box.
• Coverage up to $3,000 for theft of jewelry, watches, furs, precious and semi-precious stones.
• Payment for all reasonable fire department service charges to save or protect insured property.
• Coverage up to $3,000 for theft of guns.
• Coverage up to $3,000 for theft of silverware, silver-plated ware, goldware, gold-plated ware, and pewterware.
• Under the liability and medical payments protection, coverage for watercraft powered by one or more outboard motors with up to and including 75 total horsepower.
   

Endorsements

While ERIE's policies provide some of the most comprehensive product features in the industry, we also offer many optional coverages to meet your particular needs.

Expanded Endorsement

For a minimal additional premium, The ERIE will increase the special amounts shown under the Personal Property Coverage of you policy to the following:

• $500 - (Broadcover, Extracover, and Tenantcover Policies) for money, bank notes, bullion, gold other than goldware, silver other than silverware.
• $750 - (Ultracover and Condocover Policies) for money, bank notes, bullion, gold other than goldware, silver other than silverware.
• $2,500 - Accounts, bills, deeds, evidences of debt, letters of credit, securities, tickets, stamps and philatelic property.
• $2,500 - Trailers and campers (not otherwise insured) whether licensed or not.
• $2,500 - Watercraft, including their trailers (whether licensed or not), furnishings, equipment and outboard motors.
• $5,000 - Theft of guns (Broadcover, Extracover and Tenantcover Policies only).
• $5,000 - Theft, misplacing or losing of guns (Ultracover and Condocover Policies only).
• $5,000 - Theft of jewelry, watches, furs, precious and semi-precious stones (Broadcover, Extracover, and Tenantcover Policies only).
• $5,000 - Theft, misplacing or losing of jewelry, watches, furs, precious and semi-precious stones (Ultracover and Condocover Policies only).
• $5,000 - Theft of silverware, silver-plated ware, goldware, gold-plated ware and pewterware (Broadcover, Extracover, and Tenantcover Policies only).
  (Not applicable in Virginia.)
• $5,000 - Theft, misplacing or losing of silverware, silver-plated ware, goldware, gold-plated ware and pewterware (Ultracover and Condocover Policies only).
  (Not applicable in Virginia.)

Enhancement Endorsement
(Available on Ultracover, Extracover, and Broadcover Policies Only)

For a minimal additional premium, The ERIE will increase the special amounts shown under the Personal Property Coverage of your policy to the following:

• $750 - Money, bank notes, bullion, gold other than goldware, silver other than silverware.
• $2,500 - Accounts, bills, deeds, evidences of debt, letters of credit, securities, tickets, stamps, and philatelic property.
• $2,500 - Trailers and campers (not otherwise insured) whether licensed or not.
• $2,500 - Watercraft, including their trailers (whether licensed or not), furnishings, equipment, and outboard motors.
• $5,000 - Theft of guns (Broadcover and Extracover Policies only).
• $5,000 - Theft, misplacing or losing of guns (Ultracover Policy only).
• $5,000 - Theft of jewelry, watches furs, precious and semi-precious stones (Broadcover and Extracover Policies only).
• $5,000 - Theft of guns (Broadcover and Extracover Policies only).
• $5,000 - Theft, misplacing or losing of guns (Ultracover Policy only).
• $5,000 - Theft of jewelry, watches, furs, precious and semi-precious stones (Broadcover and Extracover Policy only).
• $5,000 - Theft, misplacing or losing of jewelry, watches, furs, precious and semi-precious stones (Ultracover Policy only).
• $5,000 - Theft of silverware, silver-plated ware, goldware, gold-plated ware and pewterware (Broadcover and Extracover Policies only).
  (Not applicable in Virginia.)
• $5,000 - Theft, misplacing or losing of silverware, silver-plated ware, goldware, gold-plated ware and pewterware (Ultracover Policy only).
  (Not applicable in Virginia.)

In addition, this endorsement will provide these outstanding features:

• Payment up to an additional 10 percent of the amount of insurance under Dwelling Coverage for loss to trees, shrubs, plants, and lawns at the residence premises. (See endorsement for coverage provisions.)
• Payment for direct loss caused by water or sewage which backs up through sewers or drains.
• Ordinance or law coverage.
• Waive the deductible shown on the Declarations for any loss from a covered peril, exceeding $50,000.

Additional Endorsements

In addition, some of the other available endorsements include:

• Earthquake Coverage
• Nurses' Professional Liability
• Personal Computer Coverage (All-Risk Coverage)
• Replacement Cost on Personal Property
• Sinkhole Coverage
• And more...

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Q & A  About the Erie's Homeprotector Program

Erie Insurance Group has been providing quality insurance coverage for seven decades. Through these years, superior service to its Policyholders has been the ERIE's driving force. The ERIE consistently goes that "extra mile" to provide the best possible service. To assist you in learning more about The ERIE's outstanding coverages, The ERIE provides this information highlighting some of the more commonly asked questions from policyholders regarding The ERIE's HomeProtector policies.

What is the difference between "Market Value" and "Replacement Cost"? How does it affect my insurance coverage?

Market value is the price that a house, including land, could normally sell for. Replacement cost is today's cost to rebuild or replace a structure with materials of like kind and quality. Insurance to 100% of the home's replacement cost is necessary if you are to completely rebuild your home in the event of a total loss.

When the market value of a house is extremely lower than its replacement cost, the amount of insurance could be based upon the market value of the home. A market value HomeProtector policy may be written when this situation occurs.

What is the difference between a "Named Perils" policy and an "All Risk" policy?

A "named" perils" policy actually lists the perils for which the policy provides coverage. The perils insured against, such as fire, lightning, theft, windstorm, hail, vandalism, among others, are specifically listed in the policy with no coverage being provided for perils not listed.

An "all risk" policy provides coverage for loss caused by all perils except those perils which are specifically excluded in the policy.

How will I know whether my policy provides named perils or all-risk coverage?

In the "Perils We Insure Against" section of your policy, either the perils will be specifically listed (Named Perils coverage) or state that coverage is being provided against risks of direct physical loss except those specifically excluded (All Risk Coverage).

Depending on the type of policy, named perils coverage or "all-risk " coverage could apply separately to the different properties protected by the policy. For example, "all-risk" coverage could apply to the dwelling, while named perils coverage could apply to the contents.

What is provided by liability coverage in ERIE's policies?

The ERIE'S HomeProtector policies provide personal liability coverage for bodily injury and property damage claims brought against you anywhere in the world. For example, if a visitor (other than a resident in your household) slipped and fell on your premises and brought a claim against you, the liability section in your HomeProtector policy would provide coverage for all sums which you become legally obligated to pay as damages.

Do I have liability coverage while my dwelling is in the course of construction?

The ERIE'S HomeProtector policies automatically provide liability coverage for dwellings in the course of construction, provided the dwelling will be owner occupied upon its completion.

How can I cover the dwelling itself when it's in the course of construction?

A dwelling being built by a contractor, with an anticipated completion date within 180 days, can be written under the ERIE's HomeProtector program. If the dwelling is being built by the insured, or will take longer than 180 days to complete, the dwelling must be insured in the ERIE'S Dwelling Fire Program until it is fully completed and occupied.

What should I do if I make improvements to my dwelling?

It is always a good idea to let your agent know what improvement you are making. If you have a policy that provides dwelling replacement cost guarantee, you are required to maintain insurance to 100% of the dwelling's replacement value. You must notify The ERIE or your ERIE agent of any improvements or additions to the dwelling that exceed $5,000. This notice must be given to The ERIE within 90 days after such improvements or additions are started.

Does the ERIE provide coverage for personal property left in the insured's car?

The ERIE's HomeProtector policies provide coverage for personal belongings in the insured's car. However, there are limitations with respect to electronic equipment capable of being operated from the vehicle. See The ERIE's policies for other limitations.

Does jewelry need special insurance coverage?

The ERIE's HomeProtector policies provide coverage for theft of jewelry, subject to a limitation of $3,000. Additional coverage, providing specific insurance can be written on an Inland Marine Jewelry Floater if you qualify.

What other personal property can be scheduled on a "floater?"

In addition to jewelry, other valuable items that can be placed on a floater include: Silverware, goldware, stamp collections, coin collections, cameras, collectors items, guns, fine arts, and furs. Contact your ERIE Agent to see if you qualify.

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Mastercover - Personal Catastrophe Liability

Keep it safe
Would you be adequately covered if you were found responsible for these accidents?

• While painting, a friend shattered his heel when the downspout he was holding onto broke away from the house. Although he was found partially responsible, the fall cost the homeowner he was helping $1.2 million.
   
• A jury awarded $900,000 to the estate of a 43-year-old father whose death resulted from an automobile accident. The award was based in part on the father's future earning potential.
   
• At the end-of-school swim party, a 16-year-old dove and hit his head on the bottom of the pool. He became a quadriplegic, and the case resulted in a $1.5 million settlement against the homeowner.

What does the Mastercover policy cover?

Mastercover, a personal catastrophe liability policy, provides additional protection against the growing wave of exorbitant jury awards in personal liability cases. It doesn't replace your present automobile and other personal liability policies. It does add an additional $1 million or more of protection to your existing underlying policy limits.

How much will it cost?

The Erie Insurance Mastercover policy adds a lot of protection for a little amount of money. Ask the team at Nesmith Insurance Agency how affordable an extra million dollars or more of protection can be.

Is the risk that great?

Million dollar lawsuits are becoming all too common and more are occurring each year. Without adequate coverage, a large liability jury award can wipe out your property and financial security. Who is at risk?

• Families who drive a lot
   
• Home and condominium owners
   
• Renters
   
• Anyone active in sports, such as golf, biking, skiing
  or mountain climbing
   
• Boat owners

Keep it safe. Contact team at Nesmith Insurance Agency about Mastercover's important protection and affordable rates.

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Tenant  - Tenantcover

ERIE's HomeProtector Program

Presenting the Tenantcover Policy of ERIE^®'s HomeProtector Program. Broad in coverage and solid in Xtra features, it is the latest example of the pioneering spirit that has made ERIE a top-rated company for over 80 years.

The Tenantcover Policy is a contemporary package of protection. The policy includes coverage for:

• Personal Property wherever it may be.



• Loss of Use which covers the additional living expenses you incur due to temporary relocation.



• Personal Liability for bodily injury claims brought against you anywhere in the world.



• Medical Payments to Others who are injured in an accident arising from your premises or personal activities.

Xtra Features (Superior Protection)

This innovative policy includes more than 50 extra protection features. Some of these include:

• Coverage up to $2,500 for loss due to theft, forgery or unauthorized use of a credit card and unknowingly accepting counterfeit money.



• Payment up to the Personal Property limit for loss to contents of a refrigerator or freezer from either power or mechanical failure.



• Coverage up to $3,000 for theft of jewelry, watches and furs.



• Reimbursement for fire extinguisher recharge after a fire loss.



• Payment for replacement of automatic garage door transmitters which have been stolen. Coverage is also provided for cost to reprogram the frequency on additional transmitters and/or the control unit box.



• Coverage up to $3,000 for theft of guns and related equipment.

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