Homeowners Insurance Quote Forms
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Homeowners Insurance Information
Providing Homeowners Insurance to Grafton, Westboro, Shrewsbury, Whitinsville, Southborough, Northbridge, Uxbridge, and Millbury
Why should you do business with Gaudette Insurance?
Owning a home is a big responsibility. Home insurance can help protect your investment against theft, fire and various types of weather and damages. Homeowners insurance is a package policy. This means that it provides property and liability protection.
Be sure to discuss your coverage needs with your agent at Gaudette Insurance Agency.
What Are the Three Types of Home Insurance?
You have three options when it comes to home insurance protection:
Actual Cash Value (ACV)
Actual cash value (ACV) is based on the initial cost of your home and personal property with depreciation considered. This policy is usually the least expensive type to purchase because of depreciation. Depreciation is calculated differently, so be sure to discuss your coverage options with your agent.
Replacement Cost Value (RCV)
Replacement cost value (RCV) is the amount of money it would take to replace your home if it were destroyed or damaged. Some policies may cover the replacement of personal property as well. This is just the value of the home or items, not the land it sits on. If you choose to go with this option, you should get your home appraised to evaluate the house’s replacement cost adequately.
Extended Replacement Cost
Extended replacement cost is the most extensive and expensive coverage option. Essentially this policy is an expanded version of RCV coverage. With extended replacement cost, you are able to rebuild your home as it was before, even if the costs exceed the value of your home. If you live in a region prone to natural disasters, this could be a good coverage option for you to consider.
What Does Home Insurance Cost?
The cost of your home insurance policy will vary depending on a variety of factors, including the following:
Amount of coverage
Discuss your needs with an agent so you can secure a policy that fits your needs and budget.
Learn More About Home Insurance
At Gaudette Insurance Agency, we are ready to assist you with your home insurance needs. Contact us today to get started.
Frequently Asked Questions
Why does the dwelling amount on my homeowner's policy increase every year?
Most homeowner's policies have an inflation guard endorsement. The dwelling amount on the policy will increase by a certain percentage to keep up with inflation.
Does my homeowner's policy cover a flood?
No, a homeowner's policy does not provide flood coverage. This coverage needs to be covered under a separate flood policy.
How do I know what amount of insurance to carry on my home?
The amount of insurance coverage is based on the replacement cost of your home, not tax value or market value (which each include the value of your land). We can work with you and have you complete a questionnaire that will help determine the correct replacement value of your home.
Are there exclusions I should know about?
Exclusions listed and defined in your policy might include neglect, intentional loss, "earth movement," general power failure, and even damage caused by war. If you fail to take care of your property (e.g., a leaky roof), you might not be covered. Obviously, if you intend to lose an object or damage your property, there's no coverage. Damages resulting from Flood or Earthquake are not covered.
As a renter, does my landlord's insurance protect me?
Generally, no. The property owner's insurance covers the building itself and seldom a tenant's possessions or liability. Clarify this with your landlord before signing a lease.