Protect Your Walls

As your largest investment, it's important to make sure your home has the proper insurance coverage. We'll protect your home and everything in it for the lowest possible price.

What is Home Insurance?

Home insurance is a type of property insurance that protects the place you live, commonly referred to as a dwelling or condo. Typically, purchasing a private residence or condo ends up being the largest investment a person makes in their lifetime, making protecting that investment one of the most important decisions they can make.

There are also renters insurance policies that offer similar benefits to those who do not own the place they call home. Renter’s insurance policies can be purchased by people who “rent” in the traditional sense, where there is a lease and a monthly payment or the policy can even be purchased by an adult who is living in a friend or family’s extra bedroom for free.

Either way, home, condo, or renter policies combine various personal insurance protections, which include losses that can occur to your place, the contents inside the place, loss of use / additional living expenses, as well as liability insurance for accidents that may happen at the home or at the hands of the policy owner.

Typical Home Insurance Coverages

Dwelling

Covers the value to repair or replace of the dwelling itself (not including the land). Your insurance agent will collect information about your home and enter it into a reconstruction cost estimator tool which will help calculate this amount using today’s building material costs and today’s labor costs.

Other Structures

Covers other structures around the property that are not attached to the dwelling. An example is a detached garage or pole barn.

Personal Property

This is your “stuff”. The amount of coverage in this category is going to be the maximum amount the insurance contract will pay out for all of the things that you would need repaired / replaced in a covered claim. Insurance contracts have some exclusions and dollar amount limits on certain types of property (ie. Jewelry, art) which would require you to add on additional coverage and/or submit appraisals/documentation if this applies to you. more insurance than necessary. This has led to some calls for more choice.

Loss of Use/Additional Living Expenses

Covers expenses associated with additional living expenses (i.e. rental expenses) if you are displaced due to a covered claim.

Personal Liability

Covers damages which the insured is legally liable for and provides a legal defense at the insurer's own expense. About a third of the losses for this coverage are from dog bites.

Building Codes

Some insurance companies automatically include this in policies and some require it to be added as an option; however, building codes / ordinance or law coverage protects you from the extra expense that comes from having to bring your home up to the new building codes when you are fixing/replacing parts of your home due to a claim.

Service Line

Service line coverage is often offered as an optional coverage, but it is a favorite at Sage Insurance Group. Service line coverage covers underground piping or wiring that provides services such as waste/sewage, water, gas/heat, electricity, internet, cable, etc. This is the only coverage that will allow damages due to wear and tear.

Water Backup

Water backup coverage is another optional coverage that is a favorite recommendation at Sage Insurance Group. Standard homeowners insurance typically does not cover water damage from sewer backups or sump pump failures. In many cases, you can select from a few options of limits of how much the insurance company would pay out in a maximum-type situation that damaged your walls, floors, personal items, etc. only coverage that will allow damages due to wear and tear.

Flood

Flood damage is typically excluded under standard homeowners and renters insurance policies. Flood coverage, however, is available in the form of a separate policy both from the National Flood Insurance Program (NFIP) and from a few private insurers.

What is Condo Insurance?

Condo Insurance is designed for individuals who live in a unit structure owned and insured by a condo association, townhouse association cooperative, homeowner's association, planned community or other similar type of organization.

The biggest difference between home insurance and condo insurance is that as a condo owner, you do not need to purchase insurance on the building that you occupy.

However, where the unit occupant starts owning / being responsible for the repairs/replacement (ie. Needing to insure) is a question you will want to know.

Your condo association will provide you with your bylaws which usually give you the information you need. You also should be able to access a copy of your condo association’s master insurance policy.

You will want this information when chatting with your insurance agent about your condo insurance policy.

Typical Benefits of a Condo Insurance Policy:

Coverage for damage to personal property such as furniture, computer equipment and clothing.
Fill in the gaps of the master insurance policy (condo association’s)- ie. Your insurance policy could be used to pay your share of the association’s deductible if there is a large loss
Personal liability coverage
Interior walls and floor coverings coverage

What is Renters' Insurance?

Renters' insurance is an insurance policy which provides most of the benefits of homeowners' insurance.

This includes liability insurance. The tenant's personal property is also covered against named perils such as fire, theft and vandalism.

Renters' insurance does not include coverage for the dwelling, or structure, with the exception of small alterations that a tenant makes to the structure. The owner of the building is responsible for insuring it, but bears no responsibility for the tenant's belonging.

(262) 737-5080
N27 W23960 Paul Rd
Suite 5
Pewaukee, WI 53072
Click Here to Email Us