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Homeowner Insurance

from Foley Palenscar Schortmann

Homeowner Insurance

At Foley Palenscar Schortmann, we understand the importance of protecting your largest investment.  Call one of our professionals to experience the responsive and courteous customer service our clients have learned to expect.

Coverages Available

  • Dwelling - Provided you are adequately insured, this coverage may pay to repair or rebuild your home if it is damaged or destroyed by fire, lightning or other perils listed in your policy, less deductible. This does not include damage caused by a flood, earthquake, insect or routine wear and tear. Other structures detached from your home (e.g. garage, shed) may be covered for up to 10% of the amount of insurance you have on your home.
  • Contents - This coverage may pay in the event your furniture, clothes and other personal items are stolen or destroyed by fire, lightning or other perils listed in your policy, less deductible. These contents may be covered anywhere in the world up to a percentage of the amount of insurance you have on your home. Expensive contents such as computers, fine art and jewelry are typically covered with a dollar limit. To insure beyond the policy’s imit, a special personal property endorsement must be added which includes the item’s appraised value.
  • Loss of Use - This coverage may pay the cost of additional living expenses beyond normal amounts if you cannot live in your home due to damage from fire, lightning or other covered perils, up to 30% of your dwelling coverage. This includes lodging, meals and other reasonable living expenses incurred while your home is being rebuilt. If part of your home is rented to others, this coverage will reimburse you for rent you would have collected from your tenant if your home had not been damaged.
  • Liability - Liability coverage protects you in the event of lawsuits and associated legal fees for bodily injury or property damage that you may cause to other people. Excess liability or an umbrella policy can be obtained for higher liability limits and/or broader coverage. Included in your policy is no-fault medical coverage. This is paid in the event an individual (excluding you, a resident of your home or a pet) is injured in your home. This coverage is available for limits of $1,000 to $5,000.

Replacement Cost

As a homeowner, it is useful to understand the concept of replacement cost. Replacement cost means like kind and quality at today’s prices excluding depreciation. If this coverage is selected, an insurance company may replace the damage to your home using materials of like kind and quality at today’s prices. In most instances, this amount is different than the purchase price of your home or the current market value.


An umbrella policy is an important consideration. It can protect you against lawsuits for amounts beyond your underlying homeowners and/or auto limits of liability. For a reasonable cost, an umbrella policy works to keep your real estate and financial assets secure.


Are you aware that flood loss is not covered by your homeowners policy? A separate flood policy must be obtained to protect against flood loss. In addition, earthquake, law/ordinance and sewer/drain backup are not covered unless added by endorsement.


As an insured, your property is subject to periodic inspection by your insurance company. Inspection recommendations are designed to help you protect your property against losses and accidents. Be sure to keep your property well maintained.


Proper maintenance of your home is crucial to safeguarding against potential damage or liability.