How much would it cost to rebuild my home at today’s prices?

Your home is probably the single largest investment you’ll ever make. By insuring your home, you are helping to protect your investment and your equity. We use industry leading software to help you estimate the cost to rebuild.

The primary factors that will determine the cost to rebuild your home include:

  • Local construction costs and the square footage of the structure;
  • The type of exterior wall construction — frame, masonry (brick or stone) or veneer — and the type of roof;
  • The style of the house (ranch, colonial);
  • The number of bathrooms and other rooms;
  • Attached garages, fireplaces, exterior trim and other special features like arched windows.

What would it cost to replace the contents or personal belongings of my home?
If the unexpected happens, losing your home contents could be distressing as well as financially devastating. Your Farmers homeowners, Townhouse, Condo and Renters policies cover the loss of your personal belongings, subject to the policy limits and conditions. The amount of coverage needed will be affected by what type of coverage you choose.

Replacement cost coverage.

This coverage pays you the dollar amount needed to replace personal property without any deduction for depreciation, but is limited to a maximum dollar amount.

Actual cash value.

This coverage pays you an amount equal to the replacement value of damaged property minus depreciation. Unless a homeowners policy specifies that property is covered for its replacement value, the coverage is for actual cash value.

 

What kind of protection do I need against liability claims?

Nothing is worse than the feeling you get when you are responsible for damage to someone else’s property or for someone else’s injuries.

This coverage is part of your homeowners insurance policy. It protects you and your family against property damage or bodily injury claims for which you are legally responsible. Liability insurance covers you, for example, if someone slips and falls on your property or if your dog bites someone. Coverage is available up to one million dollars or more.
A neighbor slips on my sidewalk and threatens to take me to court for damages. Does my homeowner policy protect me?

Yes. Homeowners insurance will pay for damages, if the accident is the result of your negligence. It will also pay for the legal costs of defending you against a claim. Also, the medical payments part of your homeowners policy will cover medical expenses arising from an injury to a neighbor or guest.
How can I make sure that I have coverage for my valuables?
There is limited coverage available for your valuables included in the basic policy. In many cases, you may want to consider purchasing a Personal Articles Floater, which provides coverage for your personal articles, such as jewelry, furs or fine arts, when their value is higher than the limits stated in your policy.

 

Is my jewelry covered by my homeowners policy?

On a homeowners policy, there is limited, standard coverage available for your jewelry. In most cases, you may want to consider purchasing a Personal Articles Floater, which provides coverage for your jewelry when its value is higher than the limits stated in your homeowners policy.
Will I be reimbursed for additional living expenses if I cannot live in my home due to a covered loss?

If your home becomes uninhabitable due to a covered loss, we pay for those extra costs of housing, eating expenses, etc. up to the applicable limit.

A pipe bursts and water flows all over my floors. Am I covered?

Yes. Typically, homeowners insurance covers you for accidental discharge of water from a plumbing system. Check your plumbing and heating systems once a year. While you are covered for this type of damage, who needs the mess and hassle?
Am I covered for Flood damage?

No. Flood coverage is available as a separate policy. We can provide you with a Flood Policy, written through the National Flood Insurance Program. In flood prone areas, the cost of this insurance is relatively high. In other areas, it is relatively inexpensive.
Am I covered for earthquake damage?

Not on the basic policy. However Earthquake coverage is available to be added to your policy. In earthquake prone areas, the cost of this insurance is relatively high. In other areas, it is relatively inexpensive.