Discounts & Policy Options

When shopping for homeowners insurance, it is often difficult to do an apples-to-apples comparison of policies since there are so many different options available. TGI offers a wide array of options, features, and discounts to custom build a homeowners policy to fit your needs and budget. Our agents can also guide you in selecting the best options for your needs as well as help you compare different quotes.

Homeowners Insurance Coverage Options

Replacement Cost vs. Actual Cash Value: Replacement Cost coverage will pay you the amount needed to replace or repair a damaged home or contents. Actual cash value will pay you a depreciated, market value which may not be enough to replace the damaged item. Most of the time, there is a minor price difference between replacement cost coverage and actual cash value coverage. Most property insurance policies offered by TGI automatically include replacement cost coverage for both the building coverage and contents coverage. When shopping for insurance, it is important to ask your agent if replacement cost coverage applies to both your home and contents.

Guaranteed Replacement Cost Coverage: This takes the replacement cost coverage one step further. If your policy includes guaranteed replacement cost coverage, your insurance company agrees to pay whatever amount necessary to replace your home, even if it exceeds the amount of coverage listed on the policy. This will prevent you from finding yourself in the unfortunate position of being underinsured in the event of a total loss. Many TGI Insurance policies contain this valuable coverage.

Jewelry, Art, Antiques, Computers & Electronics, Firearms, and Other High Value Items: Most homeowners policies have a per item cap and a maximum per policy limit for certain items like jewelry, silverware, furs, or art work. If an item is not automatically covered or coverage is very restricted, it is a good idea to specifically schedule that item on your policy. This will guarantee that you have enough coverage for the expensive items you own. Be sure to tell your agent about any of these items you may own.

Sewer Backup: Not all policies will cover you if you have a sewer backup. On many policies this is considered optional. TGI recommends you carry this coverage.

Animal, Trampoline, & Water Slide Liability: Did you know that many home insurers may decline to write your homeowners insurance if you have a certain breed of dog, dog with a bite history, or a trampoline. Make sure you tell your agent about any animals you own, dogs with a bite history, or if you have a trampoline. This will ensure that the proper endorsements are attached to your policy.

Loss Assessment Coverage: If you live in a condo or a neighborhood with an association, this is a very important coverage. Home Owners associations can bill home owners for losses that may occur that are the responsibility of the association. Loss Assessment Coverage will pay your portion, up to your coverage limit, of these losses in certain instances.

Dirt Bikes, ATV's, Golf Carts, Boats, Etc: Coverage may not be automatic for these items so it is a good idea to inquire about covering these vehicles if you own any.

Home Business Coverage: Homeowners insurance may not automatically cover business property located at your residence. TGI can add coverage for business property such as computers and furniture as well as liability coverage for home based businesses.

Discounts

Claims Free Discount: Homeowners with no claims will usually receive lower rates than those with a history of filing claims. If you aren't sure if it is worth it to file a small claim or not, contact your agent for advice.

High Deductible Credit: If you opt for a higher deductible, such as $1,000, you can receive lower rates than the standard $500 deductible may receive.

Good Credit Discount: Homeowners with a good credit history will generally pay lower insurance premiums than those with lower scores.

Multi-Policy Discounts: You can generally lower rates by combining multiple lines of business with one insurance company, such as auto and home.

New Home Discounts: Homes less than 10 years old will typically receive a discounted rate.

Security Alarm Discounts: If you have a security system installed, whether it be just a local alarm or a central station monitored alarm, you can usually receive a discount for its use.

Roof Shape Discounts: Some policies may offer discounted rates to homeowners who have a certain roof shape, such as a "hip" roof shape.

Mature Homeowner Discount: Some policies contain discounts for homeowners who are 55 years of age or older.

Sprinkler System Discounts: If you live in a home with fire sprinklers, you may qualify for a discount.

Masonry/Brick Home Discount: Because masonry homes are more resistive to fire, they will typically have lower premiums than their wood frame counterparts.