Davis Insurance Group
Insurance for you, your family and your business.
|Davis Insurance Group is a trade name used by two different agencies. P&C Products offered through Davis Insurance P&C LLC. Life, Health, Long term Care and Medicare supplement products offered through S.J. Davis
& Associates. We are licensed to sell insurance in North Carolina and South Carolina. Do not cancel any insurance product until you have a replacement policy in place and paid for.
|Or call us today for your free insurance quote (910) 392-5173
5041 New Center Dr. Suite 207 - Wilmington, NC 28403
Copyright - 2006 Samuel J Davis
Homeowners insurance policies provide coverage for your home, personal belongings,
other buildings on your property, loss of use coverage, personal liability coverage and
medical payments to others injured on your property. These policies are only available to
you if the residence is you primary residence, a seasonal home or a secondary residence.
A standard (HO3) policy provides coverage for all perils (Unless excluded). The standard
list of exclusions are listed below.
In coastal areas of North Carolina, it is common to have a 1%, 2% or 5% wind and hail
deductible included on your insurance plan. This is a separate deductible from your
standard deductible and only applies to damage caused by wind or hail perils. This
deductible is a percentage of your dwelling amount (Example: 2% of $100,000 (Dwelling
amount) would make your wind and hail deductible $2,000.00 per loss). Some policies
exclude wind and hail coverage completely. In this case we would place your wind and hail
coverage with the North Carolina Joint Underwriters Association.
(HO3) insurance policies also provide replacement cost coverage for your home, other
structures on your property and personal belongings in your home as long as your dwelling
coverage amount is within 80% of the full replacement cost at the time of loss. The
replacement coverage is only to the policy limits unless you have purchased the additional
coverage rider available on most policies. There are four other types of North Carolina
homeowners insurance policies. The (HO2) and (HO8) policies are used when an HO3
policy does not fit your needs. There is also an HO6 policy for condo-owners and an HO4
for renters who just need coverage on their personal belongings.
Two perils not covered by your standard homeowners insurance policy are damage
caused by floods and earthquakes or earth movement. Some companies have
endorsements for earthquake coverage available. Most flood insurance coverage is
provided by the federal flood program. The maximum amount of insurance coverage you
can purchase from this program is $250,000.00 for your home and $100,000 for your
home's contents. If you need additional flood insurance coverage's, there are some
insurance companies that offer excess flood policies. If you are in a non-preferred flood
zone, you will be required to purchase flood insurance by your mortgage company. Call us
today and we will help you determine what flood zone you are in.
Dwelling Policies: North Carolina dwelling policies (DP1, DP2 and DP3) are used for
structures not occupied by the homeowner. An example is rental homes and on the coast,
mobile homes. These policies have similar coverage's to homeowners policies but
typically do not provide coverage for theft, liability, medical payments or loss of use. Please
give us a call for a complete list of coverages. This is only a brief description of North
Carolina homeowners and dwelling insurance policies. For a complete explanation or for a
quote to fit your needs, please give us a call.