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| Wilmington, North Carolina and the surrounding area Homeowners Insurance |
Homeowner' s Insurance:
Wilmington North Carolina 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 Wilmington NC homeowners insurance policy (HO3) provides coverage for all perils (Unless
excluded). The standard list of exclusions are listed below. In the 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 of 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.
North Carolina homeowners (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 is damage caused by floods and
earthquakes. 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.
Condo Owners Insurance:
A North Carolina condo owners insurance policy (HO6) provides coverage for the walls inward, personal
belongings, loss of use, personal liability converge and medical payment coverage.
Renters Insurance:
North Carolina renters insurance policies only provide coverage for personal belongings and if requested
personal liability insurance.
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.
Changes to the North Carolina Joint Underwriters Association wind & hail and Homeowners
policies:
The NCJUA has changed the coverages on wind & Hail policies in North Carolina. This will effect coastal
homeowners. If you have wind & hail or full homeowners coverage through the NCJUA your deductibles and
coverages for personal contents will be changing. For new coverages and when your policy comes up for renewal, the
coverage amounts for personal contents will be reduced and will now be covered at actual cash value instead of full
replacement cost coverage. Also the NCJUA is only covering homes up to $750,000 in dwelling coverage. If the
replacement cost is more then $750,000, you will have to purchase excess coverage from a privet insurer. For more
information, please give us a call.
Wilmington North Carolina 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 Wilmington NC homeowners insurance policy (HO3) provides coverage for all perils (Unless
excluded). The standard list of exclusions are listed below. In the 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 of 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.
North Carolina homeowners (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 is damage caused by floods and
earthquakes. 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.
Condo Owners Insurance:
A North Carolina condo owners insurance policy (HO6) provides coverage for the walls inward, personal
belongings, loss of use, personal liability converge and medical payment coverage.
Renters Insurance:
North Carolina renters insurance policies only provide coverage for personal belongings and if requested
personal liability insurance.
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.
Changes to the North Carolina Joint Underwriters Association wind & hail and Homeowners
policies:
The NCJUA has changed the coverages on wind & Hail policies in North Carolina. This will effect coastal
homeowners. If you have wind & hail or full homeowners coverage through the NCJUA your deductibles and
coverages for personal contents will be changing. For new coverages and when your policy comes up for renewal, the
coverage amounts for personal contents will be reduced and will now be covered at actual cash value instead of full
replacement cost coverage. Also the NCJUA is only covering homes up to $750,000 in dwelling coverage. If the
replacement cost is more then $750,000, you will have to purchase excess coverage from a privet insurer. For more
information, please give us a call.
| Choose one of the links below for your free insurance quote |
If you own a home that you
are renting, please give us a
call. We have a great
speciality dwelling program
available from Foremost
Insurance Company. This
program provides coverage
for the home plus loss of
income coverage. Call us
today for your free quote.
are renting, please give us a
call. We have a great
speciality dwelling program
available from Foremost
Insurance Company. This
program provides coverage
for the home plus loss of
income coverage. Call us
today for your free quote.
Rental Homes
2002 Eastwood Road - Suite 302
Wilmington, NC 28403
Wilmington, NC 28403
| Homeowners Insurance / Condo Owners Insurance / Renters Insurance / Rental Home Insurance / Flood Insurance / Mobile Home Insurance |
Davis Insurance Group
A North Carolina Insurance Agency
| Call Us Today For your Free Insurance Quote (910) 392-5173 or toll free (877) 753-2847 |
2002 Eastwood Road - Suite 302
Wilmington, NC 28403
Wilmington, NC 28403
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quote.