Upstate South Carolina
- Your home is most likely your most valuable asset and the center of your daily life.
- When your home is destroyed or damaged, you have immediate needs. You need a claim settled by an insurance company that understands this simple fact.
- Select Source Insurance can help you find the right home insurance policy. A policy that will provide the most beneficial combination of suited coverage and reasonable pricing.
Insurance for Many Different Homes
Select Source Insurance Group is here to help you find the right insurance for your home. Are you a homeowner, condo owner, a renter, or a landlord? Select Source Insurance will work with you. We will help you find a home insurance policy that fits your needs. We make it easy to choose the insurance coverage that gives you the best value for the best price.
Your home insurance policy is most often made up of the specific options you choose. How much you’ll pay for your policy depends on:
- What you choose. Home insurance options are priced individually. How much you’ll pay for your policy depends on what coverages you buy.
- How much you want to cover. Higher deductibles usually make your premium price lower by shifting part of the loss payment to you. For example, if you had a $500 deductible, you would be responsible for paying the first $500 of the covered loss.
- Where you set your limits. You may decide to choose higher limits than the recommended amount if it applies to your needs and situation.
- Concerned you aren’t completely covered? Think about choosing an umbrella policy that extends your coverage.
The Right Policy. The Right Price. The Right Value
The amount you pay for your homeowners insurance depends on several factors. Think of your personal housing situation, and the home and personal assets you want to protect.
Protecting Your Home
Home insurance typically pays to repair or rebuild your home if it is destroyed or damaged by an insured event like a hurricane or kitchen fire.
Protecting You and Others
Personal Liability Coverage applies if others are injured or their property is destroyed or damaged and you are responsible. The coverage typically applies anywhere in the world.
When deciding your liability insurance limits, consider things like your annual income and the assets you own. Your personal liability insurance should be high enough to protect your assets if you are sued.
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This covers medical costs for guests if they are injured in your home or on your land. In certain cases it covers people who are injured away from your property. It does not cover health care expenses for you or others who reside in you home.
Extra Living Expenses
What happens if you can’t live in your home due to an insured loss? Your home insurance policy will pay for you to reside elsewhere. This is usually for up to 24 months while damage is estimated and your home is restrored.
Protection for Your Personal Items
Your home has many personal items like appliances, electronics, furniture, clothing and other items that are important to you. Personal Property coverage helps replace these items if they are destroyed, stolen or lost as a result of a loss covered by the policy.
Vauluable Items Coverage
If you have valuable personal possessions such as collectibles, jewelry, art or antiques you may want to inquire about this additional coverage. It provides broader coverage for specific items.
If Your Home is Rented to Others
Property owners who have rental property may have the option to buy optional liability coverage. If they have risks posed by tenant-occupied structures.
Protect the Things that Matter to You
Make an inventory of your home and personal belongings. Yes this can be a tedious task. Take photos or video – go through each room and open drawers and cupboards. Keep the media somewhere other than your home. Keep in mind that your policy doesn’t cover damages caused by poor maintenance.
Every home is unique. Talk to us today to find out how to get the best price and value on home insurance for you.
How Much Home Insurance is Enough?
The cost to rebuild your home is its replacement value. This can be very different from the estimated market value or actual purchase price. In most cases, it costs more to rebuild the home you own than to buy a new one.
South Carolina – How much home insurance is right for you?
Based in Spartanburg SC, Select Source Insurance understands the home insurance needs of our customers. We’ll work with you to estimate the replacement cost for your home and to adjust your policy limits from time to time as needed.
It is critical that you provide us with accurate, updated information about your home and contents. If your dwelling limit accurately reflects your home’s true replacement cost, some companies will pay more than the limit if a covered loss is greater than the limit on your policy.
Once a review of your home and possessions indicates you are properly insured, it’s a good idea to reexamine your coverages and limits from time to time, especially whenever you make additions or improvements. Select Source Insurance can help you re-evaluate your insurance needs, just give us a call at 864-585-8318 x222 to speak with one of our agents.
South Carolina – Be Sure You Have Enough Homeowners Insurance
Here are some steps you can take to reduce the danger of being seriously underinsured:
- Call Select Source Insurance. If you have questions or concerns about the limits in your policy, ask us to show you how those amounts were calculated. This will also give you an opportunity to make us aware of any overlooked information.
- Read your policy. Certain property, such as jewelry, and certain perils, such as earthquake or flood, is better insured separately. Knowing what is covered and for how much will help you insure properly. If there is anything in your policy you don’t understand, contact Select Source Insurance at 864-585-8318 x222 and ask for an explanation.
- Review. At each annual renewal of your policy, you receive a new Policy Declarations page showing limits of coverage and optional coverages. Review this information. If you do any significant remodeling or add a family room, extra bedroom or bathroom, etc., tell us about these changes so your coverage limits can be adjusted to cover the improvement.
- Consider carefully whether your policy provides all the protection you need. Does it provide coverage for extra costs resulting from building code changes? Does it automatically increase coverage limits annually to keep pace with inflation? Does it provide additional funds if the cost of rebuilding your home exceeds the policy limits?
Make sure you know:
- Will your insurance company stand behind agreed upon repairs after a claim? Some companies are willing to put this guarantee in writing.
- Does your policy include replacement cost coverage for contents (clothing, furniture, appliances, and other personal property inside your home)? If not, you can add it by endorsement. The cost is small, the protection valuable. Replacement Cost Coverage pays for losses to your possessions at the cost of brand new items. Without this option, a covered loss to your personal possessions would be depreciated by their age and condition, reducing the size of your claim settlement.
If you have an art collection, antique furniture, jewelry, or other valuable possessions, talk to your agent about supplemental coverages, such as fine arts or scheduled property endorsements, to adequately protect your investment in these items. The cost is modest for the extra protection, and often the deductible is waived.
Consider whether you should have more coverage for personal property (contents) than your policy provides. Personal property coverage is usually 70% of the coverage limit for the structure. Your limit may be lower than 70%. Supplemental protection is available for a small additional premium.
Inventory your home. Prepare an inventory of personal property items, update it periodically, and keep it in a safe place outside your home, such as a safe deposit box at your bank. It will save you hours of time trying to list everything damaged or destroyed if you need to make a claim. It will also help ensure you don’t forget some items. Select Source Insurance at 864-585-8318 x222 can advise you on ways to simplify the job of preparing a personal property inventory such as videotaping each room with descriptive information on the sound track.
Besides making sure you have enough protection to cover possible damage to your own home and contents, you should also evaluate your exposure to liability risks. These result from damage to the property of another, or injury to a person, not a member of your household, for which you can be responsible.
In recent years it’s become common for homeowners to be sued for injuries or damages to others, even when there is no evidence of negligence by the homeowner. The reality today is if you have any appreciable assets, you are exposed to the risk of being sued. Even if you ultimately prevail in court, your legal fees and the months or years of worry and uncertainty can be a terrible burden on you and your family.
The Personal Liability coverage provided by your Homeowners Policy usually provides a limit of $100,000 or $300,000. We recommend increasing this protection with a personal umbrella policy. Not only will it increase your personal liability, but also your auto liability. Limits are available from $1 million to $10 million and beyond. The cost of this coverage is usually very reasonable.
Keep in mind that South Carolina can require certain minimum levels of coverage. The right coverage for you is unique – Select Source Insurance today to find out how to get the best price and value on home insurance for you.
Select Source Insurance
481 S Pine St
Spartanburg SC 29302