Choosing your home insurance policy based solely on the premium could mean you won’t have the coverage you want when it comes time to file a claim.
With all that’s important about the home you love - the fixtures, the landscaping, the relaxing atmosphere - to choose an insurance policy because of premium alone is not ideal. A policy might have the right price tag, but will it cover the present value of your home and contents? Will you be bound by restrictions that make returning to life as you know it after a loss more difficult?
A Prestige® Home Premier policy from Fireman’s Fund has a variety of flexible options that won’t compromise your lifestyle if replacing or rebuilding.
Prestige Home Premier stands out from other home insurance policies because you:
Receive the full replacement value*, not actual cash value.
Most homeowners policies cover actual cash value. This is the dollar amount you paid for a certain item or home feature. The problem is things may go up in value over time. If you need to replace that dining room table you had shipped from France 20 years ago, chances are you’ll almost certainly need to spend more. But under a normal policy you’ll only be reimbursed for that 20-year-old price. So, you’ll need to cover the gap if you want the same kind of table.
Fireman’s Fund pays full replacement value. This means you will be reimbursed for the amount it costs to replace your home and its contents with materials and items of similar quality at current prices, regardless of the original purchase price. Even if the price tag on that table is now double what you originally paid for it, or new building codes lead to increased construction costs, your Prestige Home Premier policy has you fully covered.
Our representatives are well-versed in interior design, materials, collections, building trends and prices. They know that replacing imported-Italian marble with tile from the local store is not the same thing. We believe that if an insurance company says they will cover your home and what’s in it, it should do just that.
Get the right coverage with onsite evaluations.
Every home, family and lifestyle is unique, and a homeowners policy should mirror that. Fireman’s Fund representatives visit your home to see for themselves what you have and work with you to create a detailed home profile to determine the best way to protect it.
“Through our years in the business, we’ve learned that personalized advice is the best way to effectively protect property and family,” says Mark McCormick, technical director of Personal Risk Services at Fireman’s Fund. “That one-on-one is really the only way to learn a family’s needs.”
On-site evaluations place a strong emphasis on preventative measures such as family safety and home security recommendations, wildfire planning, and disaster preparedness to minimize specific risks and hazards.
Our staff also has experience with the National Trust for Historic Preservation.
“We understand historic homes, as well as sophisticated, ultra-modern ones,” McCormick added. “We know how to work with contractors and are familiar with products and materials from all over the world.”
Stay in temporary housing similar to the home you lost.
If a fire destroyed your home, would you be satisfied if your insurance carrier moved you to a one-bedroom apartment while rebuilding? You might have to live there for a year or more during the extensive planning and rebuilding process. With a Prestige Home Premier policy, we will look for a similar home in a similar neighborhood with the goal of trying to maintain your current lifestyle.
Decide whether to buy or rebuild with a cash settlement.
With Prestige Home Premier coverage, you can take a cash settlement on the value of your loss. This gives you the option of moving to another area rather than waiting to rebuild. If the replacement costs of the new home (whether you rebuild or buy) and contents are less than your settlement, you keep the difference.
Rebuild the way you want.
Fireman’s Fund gives you the freedom of choice when you face a complete rebuild. You can use your preferred contractors — not ours. Plus, you are not bound to rebuild on the same spot as your old house. With this freedom, returning to the standard of living you have established is under your control.
Our first priority is protecting your home and contents. Our second priority is making sure if you need to rebuild, your life can get back to the same level as quickly as possible. The flexibility we’ve built into Prestige Home Premier means you can have a policy tailored to the way you live — something policies that offer cut-rate premiums just can’t match.
*Limitations apply in CA, FL, LA, TX