breakin down insurnace

We often get calls from homeowners asking about getting a more competitive premium on their homeowners insurance with a lower a deductible.

When we are able to review their current coverage,  we sometimes find they don’t even have a homeowners insurance policy.

We discover they have a rental dwelling policy endorsed to owner-occupied.

So what?

When you buy a dwelling policy instead of a homeowners policy,




1.  No coverage for Theft on your contents

The policy indicates no coverage for theft on your contents.  

Although your agent gave you contents coverage,  if there is a break in or something walks away,  you have no coverage.


2.  Actual Cash Value settlement on Contents Coverage

If you have to make a claim for damage to your contents in the house,  you will not receive Replacement Cost.

The company will take depreciation off of your property.

So if you have a 5 year old sofa you purchased for $2500, you are not going to receive $2500 or the cost to replace at today’s price to buy another one.


3.  Water Back Up Coverage

Water Back Up covers toilets, drains, discharges and sump pumps or any place where excess water can “backup” into your house.  (this is not rising water from the street…that is a flood claim)

A possible claim is after a hard rain for some unknown reason the water is being pushed out of the toilet onto your bathroom floor.

You make the claim and discover this is not covered under your Dwelling Policy.  

Most homeowners insurance policies don’t cover this either unless the policy is endorsed.


What’s this all about?

Take a look at your current homeowners insurance declarations page and see if you can find

HO-3 Special Form  (replacement cost homeowners policy)

DWG-1 or DWG-3 (rental dwelling policy that may be endorsed as owner-occupied)

You don’t want to be caught with a future claim denial because you thought you purchased a homeowners insurance policy

My name it Tim D’Angelo

I am the owner of FM Agency Group

I would love the opportunity to talk to you about homeowners insurance.

Give me a call now 504.348.3131

or complete this form now