Property Insurance
We provide comprehensive Personal and Commercial Property Insurance solutions designed to protect your home, belongings, business assets, and construction projects. Below is a complete overview of all coverage options, including what they are, why they matter, and typical premium ranges.
Homeowners & Residential Policies
Homeowners Insurance (HO Series)
What it is: Protects your home’s structure and personal belongings from fire, theft, vandalism, storms, and other covered perils.
Why it’s needed: Safeguards your largest personal investment; typically required by mortgage lenders.
Typical premium: $1,200–$2,500/year (~0.4%–0.8% of home value).
Example: $350,000 home with $500 deductible → ~$1,800/year (0.51%).
Includes forms:
HO-1 Basic Form
HO-2 Broad Form
HO-3 Special Form
HO-5 Comprehensive Form
HO-7 Mobile Home
HO-8 Older Homes
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What it is: Covers personal belongings and liability in a rented home or apartment.
Why it’s needed: Protects against theft, fire, water damage; includes liability if someone is injured in your rental.
Typical premium: $150–$300/year (~0.3%–0.6% of property coverage).
Example: $50,000 personal property → ~$180/year (0.36%). -
What it is: Covers interior improvements, personal belongings, and liability inside a condo unit.
Why it’s needed: Condo association policies only cover the building shell.
Typical premium: $300–$800/year (~0.2%–0.5% of improvements).
Example: $150,000 interior coverage → ~$450/year (0.3%). -
What it is: Coverage for rental properties against fire, theft, vandalism, and liability.
Why it’s needed: Protects rental income and property investments.
Typical premium: $900–$2,500/year (~0.4%–1% of property value).
Example: $250,000 rental home → ~$1,400/year (0.56%). -
What it is: Covers mobile/manufactured home structure, belongings, and liability.
Why it’s needed: Standard HO policies often exclude mobile homes.
Typical premium: $500–$1,500/year (~0.5%–1.5% of value).
Example: $100,000 home → ~$800/year (0.8%).
Specialty & Valuable Item Coverage
Personal Articles Insurance / Floaters
What it is: Insurance for high-value items like jewelry, fine art, collectibles, cameras, or instruments.
Why it’s needed: Standard policies limit coverage for valuable items.
Typical premium: 1–2% of item value annually.
Example: $50,000 jewelry collection → $500–$1,000/year.
Covers:
Jewelry
Cameras
Fine Art
Musical Instruments
Collectibles
Sports Equipment
Catastrophic & Natural Disaster Coverage
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What it is: Covers damage from rising water or flooding.
Why it’s needed: Standard HO policies exclude flood damage; required in some flood zones.
Typical premium: $700–$2,000/year (~0.3%–0.8% of building value).
Example: $250,000 building + $100,000 contents → ~$1,200/year (0.48%). -
What it is: Protects your home and belongings from earthquake damage.
Why it’s needed: Standard homeowners policies do not cover earthquakes.
Typical premium: 0.5–1% of insured value annually.
Example: $400,000 home → $2,000–$4,000/year. -
What it is: Covers wind and hurricane-related damage.
Why it’s needed: Excluded or limited in many coastal regions.
Typical premium: $500–$3,000/year (~0.2%–1% of home value).
Example: $350,000 coastal home → ~$1,500/year (0.43%). -
What it is: Covers fire damage caused by wildfires.
Why it’s needed: Essential in high-risk areas such as California.
Typical premium: $1,000–$5,000/year (~0.25%–1.25% of home value).
Example: $400,000 home → ~$3,000/year (0.75%).
Construction Coverage (Residential)
Builder’s Risk (Residential)
What it is: Covers homes under construction or renovation.
Why it’s needed: Protects against damage to the project before completion.
Typical premium: 1–4% of construction cost annually.
Example: $300,000 build → $4,500–$12,000/year.
Commercial Property Insurance
Comprehensive coverage for businesses, facilities, and commercial operations.
Commercial Property Policies
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What it is: Covers business buildings, contents, inventory, and equipment.
Why it’s needed: Protects physical assets and ensures recovery after damage.
Typical premium: $500–$3,000/year (~0.1%–0.5% of property value).
Example: $500,000 building + $250,000 contents → ~$2,000/year (0.27%).Covers:
Buildings
Business Personal Property
Tenant Improvements & Betterments
Outdoor Property
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Business Interruption Insurance
What it is: Replaces lost income and covers extra expenses when business operations are halted due to insured damage.
Why it’s needed: Protects cash flow during downtime.
Typical premium: 5–15% of property policy premium.
Example: Property insurance $50,000/year → $2,500–$7,500/year. -
Inland Marine Insurance
What it is: Covers movable property, goods in transit, tools, or specialized equipment.
Why it’s needed: Standard property policies often exclude off-premises items.
Typical premium: $250–$2,000/year (~0.25%–2% of insured value).
Example: $100,000 equipment → ~$800/year (0.8%).Covers:
Contractors’ Equipment
Installation Floaters
Bailee’s Customer Goods
Motor Truck Cargo
Commercial Output Policies (COP)
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Equipment Breakdown / Boiler & Machinery
What it is: Covers mechanical or electrical breakdown of essential business systems.
Why it’s needed: Reduces downtime and repair/replacement costs.
Typical premium: $500–$5,000/year (~0.2%–2% of equipment value).
Example: $250,000 equipment → ~$1,500/year (0.6%). -
Builder’s Risk (Commercial)
What it is: Covers buildings, materials, and equipment during commercial construction.
Why it’s needed: Protects contractors, developers, and owners before completion.
Typical premium: 1–4% of project cost annually.
Example: $2,000,000 office build → $30,000–$80,000/year. -
Warehouse Legal Liability
What it is: Covers loss or damage to third-party property stored in your warehouse.
Why it’s needed: Essential for logistics, warehousing, and distribution operations.
Typical premium: $1,000–$5,000/year (~0.2%–1% of inventory value).
Example: $500,000 stored goods → ~$2,500/year (0.5%).
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