Frequently Asked Questions

There is a lot to know when buying insurance, and it can seem like a daunting task. Call your IronPoint Insurance agent and let us help. If you are attempting to understanding things for yourself, take a look at the FAQ's and look through the coverage glossary, you should be able to find some answers.

Q: Will I get a comparison quote?

A: Yes. Whether you are shopping on-line or with an agent, you need to make sure you get several quotes. IronPoint Insurance
represents several of the best A-Rated companies in the business, so you can get your comparison quotes done with one phone call. You also want to make sure that you aren't provided only a quote, that isn't enough! To provide you the proper service for your home insurance needs an agent should be able to give you a review of your entire insurance portfolio. If you're on-line, make sure you understand the contract you are agreeing to, and the terms and conditions, and that a proper home replacement cost valuation is done. Give us a call if you need assistance, we can help.

Q: What is the right amount of coverage for my home insurance?

A: This is one of the more important questions you need to be asking when you are purchasing your home insurance policy. In order to determine your proper home insurance coverage amount you need to understand your home's replacement cost value. The replacement cost is not the current market cost, nor is it the amount that you currently owe on your mortgage. It is the amount that it would cost to rebuild your home, and does not include the cost of the land. Once you have established your replacement cost, you need to annually review the amount of insurance you have purchased as there are influences that may change the amount required (e.g. inflation, costs of  materials in your area, home improvements).

Q: What kind of coverage do I get for my personal belongings?

A: Your homeowner's insurance policy, as well as you condominium, townhome or renters policies will provide coverage for your personal belongings subject to the policy limits. There are two ways in which your personal belongings can be covered, Replacement Cost or Actual Cash Value. Replacement Cost pays you the actual amount to replace your property subject to a limit, and Actual Cash Value pays for the amount equal to replace your property less depreciation. You should consult your IronPoint Insurance Agent to evaluate which is best for you. Unless your policy expressly states that it is Replacement Cost, it is likely an Actual Cash Value policy.

Q: Does my home insurance policy protect me if a neighbour slips and falls on my property?

A: If an accident is the result of your negligence your home insurance policy will pay for damages you are liable. This does includes slip-and-fall accidents. It will also pay for legal costs necessary to defend your claim. Also, your Medical Payments coverage will cover medical expenses for your neighbor arising from a slip-and-fall accident regardless of fault. You should consult your IronPoint agent about the limits and the amount of coverage that is appropriate for you.

Q: Is my jewelry covered by my home insurance policy?

A: You home insurance policy will have coverage for your jewelry, but it is on a limited basis. You will want to investigate a Personal Article Floater or Scheduled Personal Property endorsement, both of which provide coverage for your jewelry if its value exceeds the limits of the standard home insurance policy. You can also schedule other personal property (e.g. firearms) as they are also subject to limits of coverage in the standard home insurance policy. Consult your IronPoint agent for a full review of your insurance.

Q: Should I take an inventory or photos of my personal property?

A: Yes. It is a good idea to document the inventory of your personal property. You can also take photographs or video to better assist in your record keeping. The better you inventory your property the better prepared your insurance adjuster will be to provide payment for covered items. Also, as you acquire new items or assets, make sure to update your inventory. You can consult your IronPoint agent for assistance, or you can download an inventory sheet for assistance.
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Q: If I cannot live in my house do to a covered loss, will I be reimbursed for expenses?

A: If your home becomes uninhabitable due to a covered loss, you should be compensated for the extra cost of housing, meals, and other expenses above your normal living expense. This coverage is subject to limits. Please contact your IronPoint Insurance agent for a review of your coverage.

Q: Does my home insurance policy cover Earthquake or Flood?

A:  No. Earthquake insurance is a separate policy or coverage depending on the insurance company. If you are interested in discussing Earthquake Insurance, please contact your IronPoint Insurance agent and we can review your coverage needs. If you cannot get insurance due to the area you live, your IronPoint Insurance agent can assist you getting insurance through the California Earthquake Authority (CEA).