The homeowner’s multi-risk contents package includes all the coverage of a standard fire insurance policy, as well as, personal/general and fire legal liability up to $100,000. The multi-risk package also covers Employers liability (domestic employees) up to $20,000, Liability for Independent contractors and subcontractors up to $20,000 and Medical payments for third parties up to $5,000 per person /maximum of $25,000 in case of an accident in the premises.
This contents package includes coverage for break in with “forced entry” up to insured amount, assault inside and outside the residence; damages caused to the structure in case of break-in with forced entry; $250.00 reimbursement in case your credit card gets stolen; locksmith service in case of a domestic emergency; plumbing and electrical services, as well as many other coverages.
High ticket items such as paintings, sculptures , collectibles, art work and rugs must be listed separately. The inventory should include the make/model/year or description and the $$$ value of the item. Electronic equipment coverage is part of the package up to a specific limit. More expensive electronics should be listed separately.
Here is a tool to help you determine how much “stuff” you own:
In order to obtain a TENTATIVE quote for Muli-risk Homeowners contents coverage (including Liability), we will need:
1. $$$ value of the contents? Furniture, appliances, electronic equipment, artwork, jewelry?
2. Exact address of the residence (name of Condo and apt. #)? Name of the insured…should be issued in your name or name of renter.
3. What security measures does the building/property have? For example…..24 hours security guard, gate at the entrance, intercom, anti-theft alarm, steel doors or bars on windows?
4. Are you planning to rent the property to third parties? A special “renters” endorsement is available.