Farmers of Salem

Homeowners Insurance

Homeowners insurance is a type of property insurance that provides financial protection for a person's home and its contents. It is designed to cover the costs of repairing or replacing your home and belongings in the event of damage or loss due to covered perils such as fire, wind, theft, vandalism, etc.

Key Components

Dwelling coverage: This part of the policy helps pay for the repair or rebuilding of your home's structure if it is damaged or destroyed by a covered peril.
Personal property coverage: This coverage helps protect your personal belongings such as furniture, clothing, electronics, and other items inside your home. It can help repair or replace these items if they are damaged, destroyed, or stolen.
Liability coverage: Homeowners insurance provides liability protection in case someone is injured on your property and you are found legally responsible. It can help cover medical expenses and legal fees if you are sued.
Loss of Use: If your home becomes uninhabitable due to a covered loss, Loss of Use coverage can help pay for temporary living expenses such as hotel bills, food, and other costs until your home is repaired or rebuilt.

It's important to note that homeowners insurance policies typically have limits on coverage amounts and may exclude certain types of damage, such as floods or earthquakes. To protect against these exclusions, homeowners may need to purchase additional coverage, such as flood insurance or earthquake insurance.

Coverage Enhancements

Service Line

This enhancement option provides coverage for damage to underground piping, wiring, valves, or attached devices that connect your home to a public utility service provider or a private system.

Inland Flood

This enhancement option provides coverage for when inland waters, such as streams or rivers, overflow and partially or completely inundate normally dry land. Also, when rapid rain accumulation, runoff, or snowmelt that doesn’t drain away or soak into the ground.

Home Cyber

This enhancement extends homeowners insurance to cover losses that stem from corrupted data on personal computers, mobile devices and other connected home technology, as well as damage to software and operating systems.

Equipment Breakdown

We all rely on equipment from heating and air conditioning to computers and telephones. Equipment Breakdown Coverage protects you against the unexpected repair or replacement of these items as a result of mechanical, electrical or pressurized systems breakdown.