TW Covers Your Home and Belongings

home1Just about everyone has a home to pay for, and TW recognizes that you need to protect this major asset and personal belongings contained therein. 

There are some 71 million people in this country who own their own homes, according to 2010 Census data and insurance protection is a necessity, if not a requirement. Roughly 70 percent of those homeowners are still making a monthly mortgage payment, at the same time paying for loss and liability protection.

And what about almost 41 million housing units occupied by renters? They, too, are paying for their living space, and, at the same time, need their prized possessions covered along with personal liability protection.  TW provides coverage for people who rent their homes, whether they are houses, apartment or mobile homes, and protections provided renters include loss of personal property, medical coverage and personal liability.

Homes historically increase in value, making them a critical investment, and those prized possessions they contain accumulate over the years. TW covers your home by offering varied choices in homeowners’ insurance.

The elemental equation for homeowners’ insurance is coverage at an affordable price plus knowing you’ll receive at least the financial equivalent of its value in the wake of a devastating loss. You can ease the emotional hardship with coverage options like defraying living expenses and transitional housing for you and your family. Not all homeowners require the same level of coverage, and TW understands that there are special considerations. For instance, rural homeowners in older homes have been traditionally underserved by insurers because of perceived risk, and that provides insight into TW’s long-held commitment to “serving the underserved.”

Licensed independent insurance agents with intimate knowledge of their communities and neighbors are instrumental in working with TW and its team of senior underwriters. Together they’ll come up with a policy you can afford, at the same time allowing you to withstand loss, damage, theft or legal action. The key protections in a TW homeowners’ policy are:

• damage to your home

• damage to other structures on your property

• damage to personal property

• additional living expenses

But it is more than the wording and numbers on the policy. It is also about the familiar face of the independent agent, working with an assigned TW underwriter or claims adjuster, to resolve claims fairly and efficiently. This proven formula, as well as TW’s superior financial rating and reinsurance resources in the event of catastrophic loss, resonate in both the head and the heart.

“You’re vying for the affection of the consumer, and you need the pricing to get their attention,” explains Todd E. Salsman, Vice President/Chief Operating Officer, “but the service and personal contact we provide could very well make the difference.”

Aside from property coverage, homeowners need liability protection in the event of damages to other parties as a result of occurrences on the premises or from their actions. These covered causes of loss are known as perils and are listed for evaluation on the perils chart to help you ascertain expenses related to your home, non-farm structures and personal property. The chart offers side-by-side comparisons of the three basic forms. Select agent locator to help you get more detailed answers to coverage questions from a local independent agent.


If Your Dwelling Doesn’t Fit, Try This

Domiciles that fall outside the requirements of TW’s standard homeowners’ policy may qualify instead for Dwelling Fire Insurance. Types of dwelling coverage typically written under this type of policy are:

• owner-occupied units that don’t otherwise qualify

• tenant-occupied homes and mobile homes

• homes under construction

• seasonal residences

• vacant and unoccupied dwellings

 As is the case with homeowners’ insurance, the basic types of coverage result from damage to any of the following: the home, other structures on the property and to the personal property of the insured. The fourth type, in the event the dwelling is rendered unfit for use due to a covered peril, is for additional living costs or fair rental value.

Most Dwelling Fire Insurance coverage pertains to property loss and damage only, but personal liability may be added at additional cost to cover injury to individuals and damage to premises. This is supplemental coverage offered without regard for occupancy.

Check out the basic coverage comparisons on the perils chart, and if you require more information or service, contact your local agent through our agent locator.


mobilehomesTW Protects Mobile Homeowners

Mobile homes comprise a rather small slice of the total housing units in the United States at 6.6 percent, according to Census stats, but they are nonetheless a significant market that TW does not ignore.

TW looks for pride of ownership in insuring quality mobile homes, and most policies offered include property and liability coverage regardless of the age of the home or the estimated cost of replacement. The types and amounts of coverage under TW’s mobile homeowners’ insurance are varied with multiple points of comparison.

The perils chart for mobile home coverage highlights those points of comparison, and, as is the case with homeowners insurance, the damages protected are to the mobile home itself, other structures on the premises and personal possessions. The policy also pays for additional living expenses. This chart allows for speedy comparison of covered causes of loss, but an agent near you (see our agent locator) will provide more details.

Liability coverage provided by a mobile homeowners’ policy helps pay for damages incurred by incidents on the covered property and the personal activities of the policyholder.


umbrellaLet TW Be Your Umbrella

TW’s Personal Umbrella Insurance is there to help pay for net losses resulting from personal injury and property damage. The activities that caused the damage must be personal in nature, not business related. This umbrella liability coverage is supplemental to primary liability under homeowners’ insurance, with the probable policyholders being professional businesspersons and executives.

This is above and beyond the retained limit stated in the primary policy, specifically the ultimate net loss the policyholder is required to pay as damages to completely satisfy a settlement. It supplements in cases where primary coverage is not required, typically the so-called deductible that must be paid for the policy to take effect.

This is when you need to call on the expertise of your local agent to decide whether you want TW to be your umbrella.

Did You Know?

Insurance companies paid out more than $40 billion to the victims of Hurricane Katrina of August 2005, according to the Insurance Institute of America.