When comparing coverage, it’s easy to see that the Monomoy product is equal to or superior to the MA FAIR Plan in all categories and saved this homeowner over $500!
This is a 2nd home in Orleans, MA that was built in 1959 and is within 2 miles from the coast. The Monomoy homeowners insurance coverage is a favorable option for the homeowner and the savings is significant.
|Coverage||MA FAIR Plan||Monomoy|
|Dwelling Coverage||Provides coverage for the structure including the walls, floors, ceilings, etc.||$350,000||$350,000|
|Other Structures||Provides coverage for detached structures on your property including; shed, fence, garage, pool etc.||$35,000||$35,000|
|Personal Property||Provides coverage for your personal property including furniture, clothing, etc. This coverage provides coverage not only at your home but away from your home and anywhere in the world!||$262,500||*$262,500|
|Loss of Use||Provides coverage when you home can no longer be occupied due to a covered loss i.e. fire. This coverage provides necessary increased living expenses incurred by you while your home is being repaired.||$105,000||$105,000|
|Personal Liability||Provides coverage for bodily injury and property damage for damages that you are legally liable for.||$500,000/$5,000||$500,000/$5,000|
|Medical Payments||Provides coverage for medical expenses to those injured at your insured location.||$500,000/$5,000||$500,000/$5,000|
|All Peril Deductible||Applies to any loss to your structure or belongings except when damage is caused by a Hurricane.||$2,500||$2,500|
|Windstorm/Hurricane Deductible||Applies to any loss to your property caused by a named storm or hurricane named by the National Weather Service.||Named Storm||Hurricane|
|Inflation Guard||Increases your dwelling amount each year by a specified percentage to keep up with the rising cost of construction.||$38||Included|
|Water Back Up & Sump Discharge||The Monomoy enhancement endorsement provides $10,000 of coverage for water or waterborne material which backs up thru sewers or drains. It also covers if water overflows from sump pumps and related equipment.||$5K limit; $102||$10K limit; Included|
*Endorsements included if available. This list is subject to exclusions, limitations and changes.
- Increased Limits on Loss Assessment & Special Limits of Liability
- Increased Personal Property
- Credit Card, Forgery & Counterfeit Money
- Refrigerated Property
- Identity Fraud
- Lock Replacement (not available with MPIUA)
- Loss by Theft, misplacing or losing of Jewelry
- Loss by Theft of silver, gold, platinum or pewterware
- Increased Limits on Debris Removal, Fire Department Surcharge & Watercraft (including trailers & engines; not available with MPIUA)