Focusing on Homeowners, Condos and Renters Insurance
Homeowner, Condo, and Renters insurance policies are contracts between an insurance company and their policyholders. The MEEMIC Homeowner Policy is an excellent policy. We think that it is the best value in the market! Notice some of its features:

• Guaranteed replacement cost without a cap on a home that is totally destroyed by perils such as a tornado or fire (See Coverage A "Dwelling" on your MEEMIC Declaration Page).
• Coverage up to 10% of Dwelling A value for other approved structures (shed, garage, pole barn) that are not attached to your home (Coverage B "Other Structures").
• Will replace your covered personal property at replacement cost value all the way up to a total of 70% of your Dwelling A amount (Coverage C "Personal Property").
• Will pay for your living expenses at another home or apartment while you wait for your home to be rebuilt (Coverage D "Loss of Use").
• Provides liability coverage and attorney fees in case you get sued by someone who claims to have been hurt on your property (Coverage E "Personal Liability").
• Provides medical expenses for someone who is hurt on your property (Coverage F "Medical Payments to Others").
• Will replace personal property off the premises all the way up to 10% of your Coverage B value. This coverage even extends to the property of a dependent son or daughter who is a student and living in college approved housing such as a dorm room.
• Provides credit card fraud coverage up to $1,000.
• Provides up to $500 if the Fire Department charges you for servicing your property.
• Provides up to $500 if a member of your family damages or breaks the property of another.
• Provides up to $500 for tree removal if the tree has fallen on and damaged your house.

However, as good as it is, even a standard MEEMIC Homeowner policy does not cover everything. Any homeowner policy that would cover "everything for anything" would be very expensive and many homeowners would be paying for coverages that they didn't really need. Therefore, a homeowner's policy is written to provide protection that most homeowners need, but not unlimited coverages for everything. This fact, along with deductibles, helps to keep homeowner policies affordable. Home, Condo, and Renter's policyholders with special coverage needs beyond that of the standard policy therefore may need to customize their policies by adding endorsements and/or scheduling certain property. Most customers understand that a standard Michigan homeowner policy does not cover flooding or earthquakes (see Section 1 of the homeowner policy under "Losses we do not cover"). Customers who need protection from flooding risks, or who desire earthquake coverage, need specialized policies for such risks. In addition, there are limitations on the coverages of some personal property (see Section 1 of the homeowner policy under "Special Limitations on certain Property under Coverage C). Please read your policy and additional information that come to you from MEEMIC in the mail with your renewal and call us if you have any questions or concerns.

The MEEMIC Homeowner policy still provides guaranteed replacement cost without a cap in coverage. Replacement cost value is a better policy than actual cost value (ACV) because replacement cost offers new for old while actual cost factors in depreciation. Replacement cost without a cap is an excellent feature of the MEEMIC policy as most insurance companies that do offer replacement cost "cap" their coverage at 20 or 25% above the Dwelling A value listed on the Declaration Page. A "capped" policy can end up costing a homeowner a lot of money if their home costs significantly more to replace than their Dwelling A value indicates. MEEMIC and our agency calculates your Dwelling A value using building cost software by Marshall, Swift & Boeck. If you added an addition to your home or done some major remodeling since applying for your policy, then you should call us so that we can document these additions to your property. While a higher Dwelling A value does raise your premium, it also provides higher coverages on other features and accurately assesses the cost to rebuild your home new for old.

Remember that "replacement cost" is not the same as "market value." If your home burns down, MEEMIC will replace it new for old. Therefore, the replacement cost represents the cost to remove the debris of the old home and then build a new home. If a lot is particularly expensive and / or if your home is quite new, then the replacement cost value may be less than the market value. However, if you have an older home, then it is likely that the replacement cost value will be higher than the market value. Give us a call if you have any questions about your Dwelling A Value or any other aspects of your homeowner policy.

MEEMIC has optional coverages that will increase limits on specific items. For a minimal fee, customers can add increased limits to specific items on their standard home or renter's policy, including the following:

• Increased coverage on jewelry, watches, or furs: Choose from the following aggregates: $1,500 per item / $1,500 total; $1,500 per item/ $2,500 total; $1,500 per item / $3,500 total; for $1,500 per item / $5,000 total.
• Increased coverage on silverware and goldware: Choose from the following limits: $5,000, $6,000, $7,000, $8,000, $9,000, $10,000.
• Increased coverage on business property: Choose from $5,000 in coverage to $20,000 in coverage.
• Extended computer coverage: Value up to $10,000.
• Increased coverage on credit card, fund transfer card, forgery, and counterfeit money fraud: $10,000 in coverage.
• Private structures rented to others (on the described premises). Liability coverage available for $100,000, $300,000, $500,000, and $1,000,000.
• Incidental office liability coverage for home offices. Coverage available for $100,000, $300,000, $500,000 and $1,000,000. (MEEMIC must be informed of the amount of traffic, type of business, and number of visitors per week. Daycare liability is not eligible for coverage.)
• Glass breakage without a deductible.
• Sump pump failure and sewer backup coverage. $10,000 in coverage is available.
• Ordinance Coverage. Coverage amounting to 10% of the Coverage A limit of liability. This coverage helps protect you if the cost of repairing or replacing your property is higher than normal replacement cost due to the need to conform with laws and / or ordinances that have been put in place.
• Increased fire department service charge coverage. $1500 in coverage is available.
• Coverage for specific structures off the residence premises (such as a pole barn located across the street from house.)
• Earthquake coverage is not covered by a standard home or renter's policy. Policyholders who desire earthquake coverage can purchase an earthquake coverage endorsement.
• Flooding is not covered by a homeowner policy. Flood policies may be purchased through FEMA, and our office can help you apply for a flood policy.
• Home under construction coverage may be provided to cover a dwelling under construction.
• MEEMIC policyholders have their personal property covered at 70% of their stated Coverage A dwelling value. (A home valued at $100,000 would have $70,000 in personal property coverage; a home valued at $200,000 would have $140,000 in personal property coverage.) Additional personal property coverage can be purchased.
• $100,000 in homeowner personal liability coverage comes standard on the MEEMIC policy. Increased personal liability limits of $300,000, $500,000 and $1,000,000 are also available. Most of our policyholders have $300,000 in coverage. We recommend that you consider raising your liability coverage to provide more protection, should you be sued.
• Medical payments to others (who get hurt on your property). $1,000 in coverage comes standard on the MEEMIC policy. Increased medical payments to others of $2,000, $3,000, $4,000 and $5,000 are also available.

In addition to these endorsement options, you may also "schedule" personal property. When you "schedule" a piece of property you give the insurance company a bill of sale or appraisal of the property and pay a fee to individually insure the property. Scheduled personal property is usually covered for normal perils and also accidental direct physical loss or damage. In addition, personal property that is scheduled is covered without a deductible. Perhaps the most popular item to schedule is jewelry- -especially diamond engagement rings- -because jewelry is at risk of being lost, misplaced, or having the stones accidently fall out of the setting (and jewelry items often exceed one thousand dollars if stolen). You will be very glad that you have "scheduled" your engagement ring if the diamond accidently falls out of its setting and is lost because such an accidental loss would not be covered under the homeowner's policy unless it has been scheduled. The following is a list of items that you might consider scheduling:

• Cameras
• Fine Arts - Breakage
• Fine Arts - Non breakage
• Furs
• Golfer's Equipment
• Guns
• Jewelry
• Musical Instruments
• Postage Stamp Collections
• Rare and Current Coins
• Silverware, Goldware
• Not otherwise classified

One popular and recommended endorsement is the "Advantage Endorsement." This optional endorsement is very affordable and provides several different additional coverages including:

1. Refrigerated content: No deductible up to $500 for contents of a freezer or refrigerator lost during a power or mechanical failure.
2. Removal of trees: The standard policy provides $500 for the removal of a tree if the tree damages your house. This endorsement also provides up to $1,000 for the removal of a fallen tree even if there is no damage to your home.
3. Glass coverage: No deductible
4. Locksmith coverage: Coverage provided up to $100 for the cost of locksmith services. Deductible is $25.
5. Sump pump and sewer back up coverage: Coverage up to $2,000 for physical loss caused by water which backs up through sewers or drains or for water which enters into and overflows from a sump pump.

Have you done a household inventory? If your home burned down, was hit by a tornado, or was ransacked, would you be able to remember all of your personal property so that it could be replaced? In the event of such named perils, MEEMIC's Homeowner policy covers your personal property for up to 70% of the Dwelling Value of your home. (If you believe that you need even more coverage for your personal property, please call us.) Most of us would have a hard time remembering all of the stuff we own! Taking an inventory of your possessions, or at least taking a video tape of all the rooms of your home, can really help the claims process. Call or stop by our office if you would like a home inventory brochure and schedule.

While flooding from rain, creeks, lakes, or rivers is not covered in a standard homeowner's policy, you do have coverage if a water pipe breaks or your roof is damaged by lightning or a falling tree resulting in water damage inside your house. However, unless you add the sump pump failure / sewer back - up endorsement, you do not have coverage from water damage that results from sump pump failure or sewer back-up. The MEEMIC sump pump failure / sewer backup endorsement offers $10,000 in coverage. Homeowners with finished basements are especially advised to add this coverage! Please call us if you would like to add this highly recommended endorsement to your policy. Note that this endorsement must be added at least five days before a sump pump failure or sewer back up claim occurs.