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Home insurance includes Homeowners, Condominiums, Renters, Farm and Ranch, and Dwelling Policies. Homeowners insurance compensates you for losses to your home, your possessions inside it, and also protects you if you're legally liable due to negligence and for other situations outlined in your policy.

 How much Home Insurance should I purchase?

For most of us, our home is the single largest investment we will make. Insuring your home to its replacement value will mean that your damaged home will be rebuilt and your destroyed belongings will be replaced without potential coinsurance penalties. Personal reviews, using specialized replacement cost calculators, will determine the appropriate coverage’s for your needs and budget.

Home Insurance Coverage Terms

Actual Cash Value

Valuation which is equal to the replacement cost minus any depreciation (ACV = replacement cost - depreciation). It represents the dollar amount you could expect to receive for the item if you sold it in the marketplace.

Deductible

The amount a policyholder must pay out of pocket for a covered claim.  Generally, the higher the deductible, the lower the premium will be.

Depreciation

Valuation which is the amount of estimated decrease in property value due to wear and tear, aging and other related factors.

Endorsement

A provision or document added to a home insurance policy that changes the original coverage offered in the policy.

Exclusion

Certain property, persons or circumstances noted in a policy as not covered by a home insurance policy.

Liability Coverage

Coverage provided for losses that an insured person is legally liable for due to negligence or other situations outlined in a home insurance policy.

Peril

The exposure to or cause of a possible loss, such as an injury, destroyed or lost property, etc.

Personal Property

All tangible property (other than land) that is either temporary or movable in some way, such as furniture, jewelry, electronics, etc

Replacement Cost Coverage

Pays for the cost to replace damaged property or structures, personal property or items without factoring in deductions for depreciation, but payment is limited to a maximum dollar amount.

 
Jones Insurance Agency can make a difference for you! 
The solutions you expect with the service you deserve - call us today!
 

 
Jones Insurance Agency
357 N. Jefferson St., La Grange, TX 78945-2216
Office: 1.888.566.3790 or 979.968.5808 - Fax 979.968.5818
 

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