Davis, Clark, & Latham Insurance Agency

Homeowner’s Checklist

√  100% Replacement Cost on your home is required.

√  Replacement Cost Coverage on your personal property is strongly recommended and will eliminate depreciation in the event of a loss. Some items have restricted limits which may be increased as needed. Appraisals on scheduled items should be updated every three years in order to provide present value coverage. Maintaining an inventory of personal property, saving receipts of major purchases or keeping photographs is recommended.

√  A Personal Umbrella Liability Policy should be considered. This will provide a minimum of $1,000,000 liability coverage over existing policies in order to protect your assets and future earnings.

√  Resident Status Changes must be provided to us in a timely manner.

√  Mortgage Changes should be provided to us in a timely manner. If your premium is to be billed to the mortgagee please let us know.

√  A Higher Deductible should be considered in order to lower your premium.

√  Increased Windstorm Deductibles will likely be applied to homes located on Cape Cod, the Islands, and near the coast.

√  Identity Theft Coverage is now offered by most companies.

√  An Additional Credit is given when placing your auto policy with same company.

√  Major Policy Exclusions are earthquake or landslide and flood or surface water damage. Coverage is available for each of these at an additional cost. Some companies offer coverage for water damage resulting form sewerage backup or sump pump overflow. Keep in mind, this not a maintenance policy – it is an incident policy.

√  Other Exclusions include terrorism losses which are no longer covered and loss from mold, fungi and bacteria which is now limited.

√  NOT ALLOWED by Most Carriers: Electrical fuses, unfenced pools, diving boards, trampolines, some breeds of dogs and exotic animals.

√  Premium Payments should be made in a timely manner to avoid penalties. EFT, online and/or pay-by-phone payments are available with most companies.

√  Escape of Liquid Fuel Coverage is now available.

Homeowner Review

  • Do you have any pets? If yes, please provide the information to us at your earliest convenience as this information is now an underwriting requirement. Keep in mind if this information is not provided to the company it could result in a denial of a claim or a cancellation or non-renewal of your policy.
  • Do you have a trampoline? If yes, we may need to move your coverage in order to avoid a cancellation or non-renewal.
  • Do you work from home? If yes, please call our office to review your coverage and determine if any endorsements are necessary in order to provide proper coverage.
  • Do you have any pluming fixtures or appliances that are located below grade (below ground level)? If yes, please call our office so we can determine if an endorsement may provide better coverage.
  • Do you have a sump pump in your basement? If yes, please call us to see if you qualify for an endorsement for optional additional coverage.
  • Do you have valuable Jewelry or Fine Arts? If yes, scheduling items provides coverage based on the Appraisal or Bill of Sale value. The schedule provides All Risk coverage and responds to a mysterious disappearance with regard to jewelry.
  • Have you made any improvements to your home? If yes, please call us to discuss the improvements so that we can determine if an increase in your Dwelling Coverage is necessary.