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Homeowners Insurance

BECAUSE WE ARE BROKERS, WE CAN HELP YOU GET THE BEST RATE FOR YOUR PERSONAL INSURANCE NEEDS.IF YOU NEED TWO OR MORE PERSONAL POLICIES, WE CAN HELP YOU SAVE MONEY BY BUNDLING YOUR POLICIES TOGETHER WITH A SINGLE COMPANY.

YOUR HOME IS THE CENTER OF YOUR DAILY LIFE, AND LIKELY YOUR MOST VALUABLE ASSET.

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Looking for Homeowners Insurance in Nashville, Middle Tennessee or Kentucky?

Whether you are insuring a single-family home, mobile home, townhouse or condo, we will work with you to find a home insurance policy that fits your needs. If you are a renter or a landlord, we have you covered, too.

 

When you are buying a home, lenders will require you to carry homeowners insurance to protect your greatest investment. Our Licensed Insurance Ninjas work to provide you with tailored coverage, quality service and fair pricing to protect your investment because we know that the unexpected happens and we are here to help you protect it.

 

You choose which policy coverage is best for you, whether it’s a comprehensive policy that cover losses such as fire, hail, smoke, falling objects, vandalism and theft of personal property, or whether it’s a policy that covers only specified losses.​ Worried you aren’t completely covered? Consider an umbrella insurance policy that extends your coverage. We specialize in making it easy to choose the insurance coverage that gives you the best value for the best price.

WHAT YOU NEED TO KNOW ABOUT HOMEOWNERS INSURANCE

Property or Dwelling Coverage typically pays to repair or rebuild your home if it’s damaged or destroyed by an insured event like a kitchen fire or windstorm.

 

Your home is filled with furniture, clothes, electronics and other items that mean a lot to you. Personal Property or Contents Coverage helps replace these items if they are lost, stolen or destroyed as a result of a covered loss. Personal property (except property that is specifically excluded) is covered anywhere in the world. For example, suppose that while traveling, you purchase a dresser and you want to ship it home. Your homeowners policy would provide coverage for the “named perils” while the dresser is in transit — even though the dresser has never been in your home before.

 

  • Covered losses under a homeowners policy can be paid on either an actual cash value basis or on a replacement cost basis. When "actual cash value" is used, the policy owner is entitled to the depreciated value of the damaged property. Under the "replacement cost" coverage, the policy owner is reimbursed on an amount necessary to replace the article with one of similar type and quality at current prices.

 

Personal Liability Coverage applies if someone is injured or their property is damaged and you are to blame. The coverage generally applies anywhere in the world. When choosing your liability coverage limits, consider things like how much money you make and the assets you own. Your personal liability coverage should be high enough to protect your assets if you are sued.

 

Medical coverage covers medical expenses for guests if they are injured on your property, and in certain cases covers people who are injured off of your property. It does not cover health care costs for you or other members of your household.

 

If you can’t live in your home because of a covered loss, your home insurance policy will pay Additional Living Expenses or Loss of Use — commonly for up to 24 months — while damage is assessed and your home is repaired or rebuilt.

 

 

There are additional coverages you may want/need on your homeowners insurance policy that are not automatically included. Talk to your Insurance Ninja to see if any of these coverages are needed to protect your home.

 

The standard insurance policy does NOT pay for direct damages caused by earthquake, floods or sinkhole collapse. This coverage may be available by endorsement for an additional charge. If you live in an area of Middle Tennessee or Kentucky that is susceptible to any of these natural disasters, you’ll pay more on flood or sinkhole coverage than if you live somewhere unlikely to have an earthquake, flood or sinkhole.

ENDORSEMENTS & ADDITIONAL COVERAGES

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HOMEOWNERS INSURANCE FAQ

What are some practical things I can do to lower the cost of my home insurance?

  • The easiest thing to do is request a comprehensive review of your policy and your needs from Cordell Insurance Agency.
  • It’s not surprising to find quotes on homeowner’s insurance that vary by hundreds of dollars for the same coverage on the same home. When you shop, be careful to make sure each insurer is offering the same coverage.
  • Look for any discounts that you may qualify for. For example, many insurers will offer a discount when you place both your car and homeowner’s insurance with them. Other times, insurers offer discounts if there are deadbolt exterior locks on all your doors, or if your home has a security system. Be sure to ask your Insurance Ninja about any discounts that you may qualify for.
  • Raise your deductible. Increasing your deductible from $250 to $500 will lower your premium, sometimes by as much as five or ten percent.

 

What does homeowner’s insurance cover in Tennessee?

  • The typical homeowner’s policy has two main sections :
    • Section I covers the property of the insured
    • Section II provides personal liability coverage for the insured
  • Almost anyone who owns or leases property has a need for this type of insurance. Usually, homeowner’s insurance is required by the lender to obtain a mortgage.

 

What factors should I consider when purchasing homeowner’s insurance?

  • Determine the amount and type of insurance you will need. The coverage limit of your house should equal 100% of its replacement cost. If your policy limit is less than 80% of the replacement cost of your home, any payment from Cordell Insurance Agency will be less than the full cost to replace your home — you’ll have to pay the rest out of your own pocket. Also, decide if the personal property and personal liability limits are adequate for your needs.
  • Decide which, if any, additional endorsements you want to add to your policy. For example, do you want the personal property replacement cost endorsement, an earthquake endorsement or a jewelry endorsement?
  • Once you have decided on the coverage you want in your homeowner’s insurance policy, please consult us at Cordell Insurance Agency. Our Insurance Ninjas will be able to help you determine if there are any gaps in coverage that you might not have been aware of, explain the details of the policy’s exclusions and limitations, as well as recommend an insurance company that will live up to your expectations.

 

What are the policy limits (i.e., coverage limits) in the standard homeowner’s policy?

  • Note: this answer is based on the Insurance Services Office’s HO-3 policy.
  • The home and other structures on the premises are protected on an "all risks" basis up to the policy limits. "All risks" means that unless the policy specifically excludes the manner in which your home is damaged or destroyed, there is coverage. The policy limit for the home is set by the policy owner at the time the insurance is purchased. The policy limit for the other structure is usually equal to 10% of the policy limit for the home.
  • Losses to your personal property are covered on a "named perils" basis. "Named perils" means that you have coverage only when your property is damaged or destroyed in the manner specifically described in the policy. The policy limit on the coverage is equal to 50% of the policy limit on the home. Limits for the coverage of additional expenses that the policy owner may incur, when the residence cannot be used because of an insured loss, is equal to 20% of the policy limit on the home.
  • The coverage limit on personal liability is determined by the policy owner at the time the policy is issued. The coverage limit on medical payments to others is usually set at $1000 per injured person.

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*We provide coverage on an individual basis. Client has the right to waive coverage he/she does not want without placing liability on the agent or agency.

 

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OFFICE: (615) 847-3669       FAX: (615) 847-3984

4331 Old Hickory Blvd, Ste D. Old Hickory, TN 37138

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