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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.
Estimating your home value will help you to make a determination of the amount of insurance you will want to purchase. The primary factors that will determine the cost to rebuild your home include:
Here are some tips to help you estimate your home's value:
Every year, take the time to check the value of your insurance policy against rising local building costs. Your Farmers agent is available to assist you with your review of your coverage.
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.
There are two distinct ways to insure your personal possessions:
Many people make the mistake of underestimating the value of their home contents. This mistake is easily made when you consider the amount of new items we purchase each year. Under-insurance can lead to heartache and inconvenience should the unexpected happen. Your local Farmers agent is available to assist you with insuring your home contents.
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. Your Farmers agent can assist you with your selection of coverage to help you alleviate this financial worry.
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.
Today, when multimillion-dollar lawsuits are common, your homeowners policy may provide substantial liability limits, but it may not be enough. Farmers Personal Liability Umbrella is available to supplement your present policies and provides additional coverage in increments of $1 million.
Lawsuits are common today. If you accidentally injure someone or damage their property, you could be sued. And more and more, juries are awarding very large verdicts. Your homeowners, property and auto policies may provide substantial liability limits, but juries can award sums that exceed those limits.
Farmers Personal Liability Umbrella insurance acts like an umbrella, providing additional coverage on top of your auto and homeowners liability policies. It supplements your existing policies to provide additional personal liability protection.
The Umbrella policy goes into effect after the underlying liability limits on your homeowners or auto policy is exhausted. Therefore, your policy must have certain limits in order to qualify for an Umbrella policy.
Auto Insurance Liability Limits:
Homeowners Insurance Liability Limits: $300,000
The policy provides:
For more information, please contact a Farmers agent.
Homeowners who guard against theft, accidents and other losses can often get lower insurance rates and policy discounts. Here are some things you can do to help qualify for lower premiums:
Please contact your Farmers agent to discuss these and other money savings options.
When it comes to insurance, we know you want quality coverage from a solid, dependable company. You want the peace of mind that comes with knowing, in the event you need us, we'll be there to help you get your life back to where it belongs quickly, compassionately and with as little hassle as possible. And you feel, rightfully so, that if you are a good risk, you should be rewarded with lower insurance costs. We understand that you want all of the above at the best price possible. At Farmers, we are always looking for new ways to keep the cost of insurance affordable. To do this, we use a tool called the Risk Assessment Indicator.
A Farmers Risk Assessment Indicator is a code developed from and based upon credit report information. Depending on the kind of policy, Farmers' underwriters may use this indicator along with motor vehicle records, loss reports and/or other information to rate auto and/or homeowner insurance policies. Risk Assessment Indicators are highly predictive of future claims activities, and the use of indicators allows Farmers to charge customers a rate that is appropriate to the risk insured.
Risk Assessment Indicators are based on information from consumer credit reports from one of three institutions: LexisNexis Consumer Services, Equifax or CSC Credit Services.
Information used may include:
What's not included in a Risk Assessment Indicator? (Risk Assessment Indicators do not use the following information...)
We believe in your right to privacy. Your agent and members of the agency staff do not have access to your credit file. You can, however, obtain a copy of your credit report from the consumer reporting agency that provided the information used to calculate your Risk Assessment Indicator.
Industry experts have proven that a strong correlation exists between credit history and insurance risk. Because credit history is generally accepted to be a fair and accurate way to predict probability of future loss, Farmers Risk Assessment Indicator uses credit data to determine discount availability for applicants and customers. Please keep in mind that this is only one of several factors used in determining your premium.
You can improve your indicator over time by using credit responsibly. A Risk Assessment Indicator is a snapshot of your insurance risk based on information in your credit report. It's a good idea to periodically obtain a copy of your credit report from the major credit bureaus to check for any inaccuracies.
Farmers recommends that if you need assistance with understanding your credit history or advice on using credit responsibly, you should contact a qualified credit counselor. Farmers Agents and employees are not qualified credit counselors.
The Federal Fair Credit Reporting Act (FCRA) requires that we tell you if we take adverse action based upon information contained in your credit report. We will give you the name of the credit bureau that provided the information and advise you of certain rights you have under the FCRA so you can address any errors that might appear on your credit report.
If you find an error in your credit history, you should report the error to the credit bureau. The credit bureau must investigate and respond to your request. Once you are certain that your report has been updated, please contact your Farmers agent. He/she will re-order a new Risk Assessment Indicator. Farmers will apply any changes to your premium retroactively to the original application or renewal date. Make sure the information in your credit report is correct by reviewing your credit report from each credit bureau at least once a year. Call these numbers to order a copy (a fee may be required):