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Franklin Insurance Agency

2345 Southern Blvd SE Ste C4,
Rio Rancho, NM 87124, United States

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Category: Home Insurance

Adjusting Home Insurance for Renovations

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It’s exciting to plan a home remodeling project and to do renovations. In your enthusiasm to get started, you may overlook the prudent idea of conducting a home insurance review to adjust your insurance coverage for the construction work and upgrades you are planning. 

Insurance Reviews

Every year you will want to talk with your agent at Franklin Insurance Agency in Rio Rancho, NM, about your home insurance. Your agent will conduct a review and make recommendations where adjustments are needed. In addition to the standard recommendation of having an annual home insurance review, you will want to have a special insurance review when planning a home remodel.

It is not the best strategy to wait until after the work is done, because there is risk that you need to consider while the project is ongoing. For example, building materials can be stolen from the job site, or a worker may be injured while the work is in progress or a fire could happen even if the job is unfinished. 

Here are the things you want to consider:

Home Value — A remodel will increase the value of your home.

Increased Risk— Workers onsite, tools, wiring, open walls, and other work in progress, adds to the risk.

Contractor’s Insurance—Verify your contractor carries adequate general liability insurance and workers comp insurance.

Vacancy Endorsement—If you leave your home vacant for more than 30 days, you need to have special insurance to cover a vacant home.

You will want to discuss with your agent the scope of the planned construction work, the timeline to complete the project, the details about the contractor(s) you hire and whether you will occupy the home while the work is in progress.

Consult with your agent at Franklin Insurance Agency in Rio Rancho, NM, for all your home insurance needs.

 

Will Home Insurance Cover My She Shed?

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A she-shed is more than just another structure; it’s your personal retreat. Unfortunately, natural disasters or vandalism can destroy your cozy shed in a matter of minutes. While your home insurance policy in Rio Rancho, NM, may provide some protection, there are a few important things to know.

Other Structures Coverage

Many home insurance policies include “other structures” coverage as part of their standard offerings. This coverage applies to detached structures, such as garages and sheds. However, not all insurance companies automatically include this coverage. It’s essential to speak with an agent at Franklin Insurance Agency to confirm whether your policy includes protection for other structures.

Coverage Limits

Coverage limits for other structures are typically lower than those for your primary home. Often, a percentage of your total homeowners policy is allocated to other structures coverage, typically around 10%. For example, if your homeowner’s policy provides $100,000 in coverage, you may only have $10,000 for all other structures. Some companies set this limit as low as 1% or 2%.

To ensure your she-shed is adequately protected, speak with an agent to determine the dollar amount of coverage you have. If the coverage isn’t sufficient, you may be able to purchase additional protection for other structures.

Covered Perils

Each insurance policy specifies which events, or perils, are covered. Most policies include coverage for theft, vandalism, fire, and certain natural disasters. However, some policies exclude specific disasters, such as floods or tornadoes, requiring homeowners to purchase additional coverage. If the damage to your she-shed isn’t caused by a covered peril, your claim will likely be denied.

Agents at Franklin Insurance Agency can help you understand your coverage and ensure your she-shed is protected. Contact us today to discuss your policy. We proudly serve the Rio Rancho, NM, area.

Why Certain Dog Breeds Necessitate Additional Liability Insurance

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If you own a dog that belongs to a breed considered mean or dangerous, you may face higher homeowners’ insurance premiums in Rio Rancho, NM. Some carriers may even refuse to issue a policy to owners of restricted or dangerous breeds. However, you can still protect yourself from excessive liability and court costs if you have a so-called dangerous dog. The professionals at Franklin Insurance Agency can provide advice on how to navigate this situation.

Dog Breeds That Insurance Companies Deem Dangerous

Insurance companies rely on statistics about documented bites and attacks that cause severe injuries, leading to higher claims. These breeds are often larger or have powerful jaws and other anatomical features that can inflict serious harm. The following dog breeds are frequently excluded from homeowners’ policies:

  • Pit Bull
  • German Shepherd
  • Great Dane
  • Siberian Husky
  • Staffordshire Terrier
  • Rottweiler
  • Doberman Pinscher
  • Chow Chow
  • Wolf Hybrid
  • Bull Terrier

Although individual temperament and training play a significant role, most insurance companies do not take these factors into account. As a result, you may need to explore additional measures to protect yourself.

Liability Options for Pet Owners

Many insurance carriers will charge a higher premium if you own a dangerous dog breed. You can also opt for a rider on your insurance policy to cover the cost of any damage or medical expenses caused by your pet. However, injuries caused by dangerous dogs can lead to extensive medical bills or lawsuits. While increasing your homeowners’ liability insurance limits is one option, a better solution may involve purchasing an umbrella insurance policy to cover high medical bills and legal expenses.

Learn more about how you can protect yourself from medical payments and lawsuits by contacting Franklin Insurance Agency, serving Rio Rancho, NM, for a consultation.

What Types of Roof Damage May Be Covered by Home Insurance?

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Your roof is a crucial home component—it shields you from the elements, ensuring your safety and comfort. However, it can be one of the costliest parts to repair or replace when issues arise. This is where home insurance steps in. At Franklin Insurance Agency in Rio Rancho, NM, we frequently field questions about the types of roof damage covered by insurance. Let’s simplify this topic for better understanding.

Is Storm Damage Covered? Usually, Yes.

If your roof suffers damage from a windstorm, hail, or even a fallen tree during a thunderstorm, there’s a high probability your homeowner’s insurance will help cover the cost of repairs. These are deemed "sudden and accidental" events, which most policies are designed to protect against.

What About Wear and Tear?

Regrettably, home insurance doesn’t cover damage that occurs gradually over time. So, if your roof leaks due to aged shingles or prolonged sun exposure, that’s considered maintenance and the homeowner’s responsibility. Regular inspections and maintenance can help prevent this type of damage from worsening.

Is Damage from Fire or Vandalism Covered? Yes.

If your roof is damaged due to a fire or intentional property damage, your policy likely has you covered. These are also considered sudden events, and your insurance is designed to help you recover from unexpected situations like these.

Understanding New Mexico Home Insurance Coverage

Every policy has unique aspects, and it’s crucial to understand exactly what yours covers. At Franklin Insurance Agency in Rio Rancho, NM, we’re here to help you navigate the complexities. Contact us today, and let’s ensure your roof—and your home—are adequately protected.

Inclusions That Your Home Insurance Policy Offers

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Insurance inclusions specify the circumstances in which your home insurance policy would pay out. It’s vital to review your home insurance policy to understand what inclusions it comprises.

Dwelling Coverage

A typical home insurance policy provides coverage for the dwelling you inhabit. It offers protection for the structural materials your home is made of, such as walls, floors, and insulation.

Possession Coverage

Possession coverage safeguards the household goods, furnishings, clothing, and other items inside your home. You can select the items you want to insure when you acquire your home insurance policy. Any valuable items or those that would be challenging to replace should be added to your home insurance policy.

Additional Buildings

A home insurance policy may also cover other structures on your property. If you have a garage, a shed, or another freestanding structure, obtaining an inclusion that will cover it might be beneficial. This coverage will safeguard against theft and damage.

Additional Living Expenses

If your home becomes uninhabitable in the future, additional living expenses coverage will reimburse you for the extra out-of-pocket costs. This type of inclusion can be utilized to cover the costs of a hotel, food, and any other expenses you incur while your home is uninhabitable.

Insurance Agent Guidance

Feel free to contact our representatives at Franklin Insurance Agency if you want to learn more about insurance inclusions. If you’re unsure about the type of coverage your home insurance policy offers, our agents serving Rio Rancho, NM, can assist you.

They will also recommend insurance coverage that will augment your home insurance policy’s level of protection.

Inclusions That Your Home Insurance Policy Offers

Posted on by admin

Insurance inclusions specify the circumstances in which your home insurance policy would pay out. It’s vital to review your home insurance policy to understand what inclusions it comprises.

Dwelling Coverage

A typical home insurance policy provides coverage for the dwelling you inhabit. It offers protection for the structural materials your home is made of, such as walls, floors, and insulation.

Possession Coverage

Possession coverage safeguards the household goods, furnishings, clothing, and other items inside your home. You can select the items you want to insure when you acquire your home insurance policy. Any valuable items or those that would be challenging to replace should be added to your home insurance policy.

Additional Buildings

A home insurance policy may also cover other structures on your property. If you have a garage, a shed, or another freestanding structure, obtaining an inclusion that will cover it might be beneficial. This coverage will safeguard against theft and damage.

Additional Living Expenses

If your home becomes uninhabitable in the future, additional living expenses coverage will reimburse you for the extra out-of-pocket costs. This type of inclusion can be utilized to cover the costs of a hotel, food, and any other expenses you incur while your home is uninhabitable.

Insurance Agent Guidance

Feel free to contact our representatives at Franklin Insurance Agency if you want to learn more about insurance inclusions. If you’re unsure about the type of coverage your home insurance policy offers, our agents serving Rio Rancho, NM, can assist you.

They will also recommend insurance coverage that will augment your home insurance policy’s level of protection.

Understanding Which Valuable Items Are Covered by Your Home Policy

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Many who purchase a home insurance policy may believe it automatically covers its structure and contents should something happen to it. However, the reality is far more nuanced than that. Knowing what’s covered and what’s not when it comes to your personal belongings will make all the difference should you find yourself facing a natural disaster or another emergency that impacts your home and its contents. If you’re shopping for home insurance in Albuquerque or Rio Rancho, NM, we’re here to give you the rundown on how much coverage you can expect to receive. 

Does My Home Insurance cover My Valuables?

You’ll be pleased to know that most of your home’s contents are covered by your home insurance, including things like furniture, clothing, electronics, and similar items around the house that you’re likely worried about losing in various scenarios. That being said, some items have sub-limits, meaning only a small amount of your total coverage will cover some of your belongings. These limits are typically placed on higher-end items like jewelry (including gold and precious stones), firearms, and even larger items like watercraft. Making sure to schedule your items is crucial to getting the proper coverage. It’s also worth mentioning that your insurance might not cover certain types of damage. For example, if your home isn’t covered by flooding, damage to your items caused by flooding won’t be covered either. 

Cover Your Home’s Contents With the Help of Franklin Insurance Agency

Here at Franklin Insurance Agency in Rio Rancho, NM, we understand the importance of having the right amount of coverage to ensure your home and your belongings are protected. We’re here to make sure that happens. Compare quotes today or contact us if you need additional support as you look for the right home insurance policy!

Is Outdoor Property Covered by Home Insurance?

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A homeowner’s insurance policy provides coverage for various risks that may impact your real estate investment and its occupants. If you live in and around Rio Rancho, NM, the insurance professionals at Franklin Insurance Agency can help you determine how best to protect your home, family, and assets.  

Does Homeowner’s Insurance Cover Outdoor Property?

Yes, a policyholder’s outdoor property will be covered; however, the scope of insurance will be contingent on the terms of the policy you hold. The outdoor items that are generally covered by a home insurance policy include –

Outside Property Structures

Standard home insurance policies often cover structures on your property, such as an outdoor shed, a fence, or a detached garage. Coverage is usually a percentage of the main dwelling coverage limit.

Outdoor Personal Belongings

Homeowners’ insurance typically covers Outdoor personal belongings, including outdoor grills, patio furniture, or lawn equipment. Note that policy limits may exist, so high-value items might best be covered by a special endorsement.

Landscaping

Landscaping, including plants, flowers, and trees, is not typically covered by a homeowner’s insurance policy; however, driveways and retaining walls might be covered if damaged by a covered event.

Liability Coverage

A homeowner’s policy will often include liability coverage should an accident happen (for which the insured is found to be legally responsible) in the property’s backyard or driveway.  

Contact a Leading Rio Rancho, NM Homeowners Insurance Firm

If your home has unique or valuable outdoor features, discussing available coverage options is a smart idea to ensure your home and family are sufficiently protected. To speak with an insurance professional at Franklin Insurance Agency about homeowners’ insurance coverage to meet your needs, contact a Franklin Insurance Agency staff member at 505-891-8733 or online.

Tips to make your home more energy efficient

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Energy efficiency is good for the environment and can help you save money on your energy bills here in the Rio Rancho, NM area. Here are some tips from us at Franklin Insurance Agency to make your home more energy efficient:

  1. Change your lightbulbs to LED bulbs. LED bulbs are much more energy efficient than traditional incandescent or halogen bulbs and last much longer.
  2. Make sure your windows and doors are properly sealed. Even small gaps around window and door frames can lead to air leaks that cause your heating and cooling systems to work harder than necessary.
  3. Install a programmable thermostat. Programmable thermostats allow you to set specific temperatures for different times of day, so you don’t have to waste energy by keeping the temperature too high or too low when no one is home. 
  4. Unplug unused appliances and electronics. Many electronics draw power even when they’re not turned on, so be sure to unplug any items that aren’t in use. 
  5. Use fans instead of air conditioning whenever possible. Fans use less energy than air conditioners, so using them instead of AC will help lower energy costs. 

Simple changes like these can help reduce your carbon footprint and save money on monthly energy costs in the long run!

For more energy-saving tips or to explore a policy that will cover your home in case of the unexpected, call us at Franklin Insurance Agency today. We are proud to serve the Rio Rancho, NM area and would be happy to help you find a policy that meets your needs and budget.

Tips for making your home safer

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Your home is the place you feel safest. Home safety includes many things, including protection from dangers outside and inside your home. At Franklin Insurance Agency in Rio Rancho, NM, we know that one way to protect your home is with the right home insurance, and we will work with you to ensure your coverage is right for your home and you. 

Make sure your smoke detectors work.

Fire is an ever-present danger to any home, and the early warning that a smoke detector provides gives you and your family the best chance of getting out safely. The batteries need to be changed every six months like clockwork. 

Get your chimney cleaned.

If you use your fireplace at all, even if it is a gas one, you must get your chimney cleaned regularly. Many fires start from the chimney and can go undetected on the roof for quite some time. 

Keep chemicals and cleaners under lock and key.

Many things that are used regularly around the house are poisonous if ingested. Kids and pets can get into something that can make them very sick or even kill them. Why take a chance? Place anything dangerous in a cabinet with a lock. 

Add an exterior home camera.

It is straightforward these days to add a camera to the exterior of your home. This way, no matter where you are, you can use an app on your phone to see what is happening at home. You can install one of these yourself for a very reasonable price. 

Lock your windows

While most people lock their doors, they often forget to ensure the windows are locked. 

Contact Franklin Insurance Agency in Rio Rancho, NM when you are ready to discuss your home insurance needs.