Homeowners Insurance

As a homeowner, safeguarding your home and belongings is crucial. Home insurance can help protect these significant assets if something unfortunate happens. 

What Is Home Insurance? 

A home insurance policy can protect your home and belongings in the event of a covered loss or damage such as a fire. Homeowners insurance is often considered a package policy because it includes home protection and liability coverage for any injuries and property damage caused by you, your family members and sometimes your pets.  

Many home insurance policies also provide additional living expenses (ALE) coverage if you must live elsewhere because of damage from an insured loss. Our team at the Schaffner Insurance Agency can help you review your coverage needs to ensure your home insurance policy protects your home and possessions. 

How Much Home Insurance Do I Need? 

Standard homeowners insurance can offer protection from damage to your home’s structure, including fixtures, plumbing and heating. Homeowners with high-risk items (e.g., swimming pool) or luxury belongings may need additional coverage.  

Many home insurance policies cover common losses or damages, but there may be exclusions, such as flooding or earthquakes. We can discuss whether you need additional insurance to ensure you’re appropriately protected. In addition, sometimes home insurance doesn’t cover maintenance issues such as termite and insect damage, rodents or mold.
  

What Does Home Insurance Cost? 

Your home insurance policy depends on various factors, including: 

• Where you live.
• Your home’s price and the cost to rebuild it.
• The amount of coverage you want.
• Your home’s age and condition.
• Your home’s security and safety features.
• Your credit history.
• Additional coverage you add.
• Your deductible. 

The Schaffner Insurance Agency can help you with your specific home insurance needs. Call us at 978-851-2727 to get started on your policy. 

 

Renters Insurance Information

With renters insurance, you will be able to replace what is damaged or stolen.

Renters insurance covers your possessions against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage from plumbing.

However, renters insurance does not cover floods, earthquakes or routine wear and tear. You can, however, buy separate policies for flood and earthquake damage.

If you are forced out of your home because of a disaster your additional living expenses will be covered.

Renters insurance pays the reasonable additional costs of temporarily living away from your home if you can't live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, temporary rentals, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company.

Renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court.

Decide How Much Insurance You Need.

Add up the cost of everything you would want to replace if it were damaged or stolen. This could also serve as the basis for an inventory that will make filing a claim easier. For an inventory, also record model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in safe place away form your home.

If you rent an apartment or house you need insurance to protect your belongings. While your landlord might have insurance, it only protects the building. Your belongings are not covered under those policies.

Thank you for your interest in Schaffner Insurance. We work with multiple A+ carriers to shop for the best coverage and best rates for your specific needs. Feel free to call us at 978-851-2727 or email your questions and an insurance professional will reply promptly.

Insuring: Tewksbury, Wilmington, Billerica, Chelmsford, Lowell, Andover and Throughout Massachusetts and New Hampshire (Pelham, Windham, Derry, Londonderry and Salem) .