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Grant Wm. Davis President	GDI Insurance Agency, Inc 801 Geer Rd, Turlock, CA 95380 888-991-2929

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GDI Insurance Agency offers homeowners insurance policies that have flexibility to meet your individual needs and above all, provide you with the security that comes only from the knowledge that your home is safe

Let an experienced GDI Homeowners Insurance
Specialist explain the coverage you need

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Or Call 1-888-991-2929 Today!

Insurance for your home is one of the most important forms of personal insurance and is often required by lenders to obtain a mortgage. Nearly everyone, whether you own or lease property, should have the protection of homeowners insurance.

The typical Homeowners Insurance Policy has two main sections:

- Section I -
Insurance coverage for your property

- Section II -
Personal liability coverage
To cover you in case of lawsuits arising from things
that happen on your property

•Replacement Cost or Actual Cash Value Option•

Covered losses under a homeowners insurance policy can be paid on either a replacement cost basis or on an actual cash value basis. When "actual cash value" is used, the policy owner is entitled to the depreciated value of the damaged property. Therefore, the older the item is, the less money you may receive for it. If you choose the "replacement cost" coverage, the homeowners insurance policy will reinburse the amount it costs to replace the property with something of a similar type and quality at current prices.

•All Risks or Named Perils•

An "All Risks" policy provides the broadest homeowners insurance protection because it will cover losses that are due to any peril except those specifically excluded in the policy. A "Named Perils" policy covers losses that are due to only those perils listed in the standard Homeowners Insurance policy and typically include fire, hail, windstorm, and other physical losses.

Insuring A Second Home

PROTECT YOUR HOME AWAY FROM HOMEIf you’re investing in a second home, we’ve gathered some insurance basics that will help you make the best buying decision when it comes to determining insurability and estimating your ongoing cost of ownership.

Coverage OptionsAt a minimum, your lender will require that you carry hazard insurance to protect your property against damage from theft, fire, flooding or windstorms. It is also a good idea to add Liability insurance, which covers you and members of your household for accidental injuries to your visitors. Opting for Property plus Liability insurance adds up to a standard Homeowners Insurance package. For an extra layer of protection, a Personal Umbrella Liability policy extends your liability coverage for properties named in the policy.

Dwelling Fire InsuranceSince most homeowner policies require occupancy as a condition of insurance, the fact that you visit infrequently may preclude you from obtaining full Homeowners coverage. Dwelling Fire Insurance is an alternate coverage option utilized in insuring residential rental or non-owner occupancy property, including vacant property. A Dwelling Fire policy continues to offer coverage for a home and other structures (detached sheds or garages, for example) for perils named in the policy. Named perils listed in a typical Fire Dwelling Policy protect against damage caused by fire, collapse, lightening strike, wind, hail, explosion and smoke. For more coverage, consider adding Personal Property Protection and Liability Insurance to a Dwelling Fire policy.

Renting Out Your Home to Others?Whether your second property is an apartment unit or a family home, if you are renting the property, you will have little control over the physical damage that can occur in or on it. To mitigate your risks, Tenant-Occupied Dwelling Insurance will cover the costs incurred by damage, including fire, storms, burglary and vandalism. It does not cover your tenant’s personal property.Renting your property furnished or unfurnished also has insurance coverage implications. If you are renting your property furnished, make sure to let us know. We can advise you on the best coverage options and whether you need to consider requiring longer-term tenants to carry additional Renter's Insurance.

As with all Homeowners Insurance, it is important to be sure that there is enough coverage to protect all of your property values and assets when purchasing coverage.

Cost ConsiderationsSometimes it costs more to insure a second home than it costs to insure your primary residence. Why? Because premiums are based on a variety of factors such the amount of time that your home will be unoccupied, its location and the liability from renting the property.

Often the qualities that attracted you to your second home — the spectacular mountain views or sunsets over the ocean — are the same ones that can make insuring it more costly.

It is important that you work with a broker that knows what they are doing. I have seen to many secondary homes insured wrong. If you rent out your cabin it has to be insured properly! Don't let your insurance agent give you a wink of an eye and tell you not to worry about it!

•Coinsurance Penalty•

If your policy limit is less than 80% of the replacement cost of your home, you will face a "coinsurance penalty," which means you'll have out-of-pocket expenses to cover costs beyond the policy deductible you chose. For example purposes we will assume your home's estimated replacement value (RCV) is $100,000. The co-insurance clause requires you carry at least $80,000 (80% of your RCV). If you chose to purchase only a $40,000 Homeowners Insurance policy you would be underinsured by half. Therefore, in the example the insurance company would pay one-half of a loss less the policy deductible, so if you suffered a $10,000 covered loss to your house, condominium or townhouse and had a $500 deductible, your policy would only pay $4,500.

•Personal Liability•

Personal liability in a homeowners insurance policy is also an important part of having security from accidents that may occur on your property. We suggest you choose coverage limits that are not less than those on other liability insurance you own, such as Car Insurance.

For a quick quote from 34 companies in 1 business day or less! Fill out this form. You can save up to 37% or more on your auto and home insurance!

1-888-991-2929

GDI Insurance Agency, Inc 801 Geer Rd, Turlock, CA 95380 888-991-2929

GDI Does More For Its Clients!

GDI Insurance Agency, Inc
801 Geer Rd, Turlock, CA 95380
888-991-2929