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 |
| Total Premium | $2049 | $1490 |
*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)