Premier Choice Homeowners Coverage

Your home is an excellent target for the slings and arrows (and sticks and stones, but we'll get to those later) of life's outrageous fortunes.

Our Premier Choice homeowners policy is a robust package of key coverages and extended limits that help you prepare for a wide array of unpleasant (and expensive) surprises. 

Unless you've been living a media-free existence, you're aware that widespread serious weather events are an established trend. And so are issues caused by a tough economy. There are major implications for you as a homeowner. 

Here are five things you should think about:

  1. Costs to repair and rebuild extensively damaged homes are climbing. Building materials and labor are frequently in heavy demand across the country, driving up costs for everyone.
  2. Costs for consumer goods are rising quickly; it would likely cost you much more to replace your current belongings than it did to buy them.
  3. States are establishing stricter building codes, which usually require more expensive materials and construction methods.
  4. All kinds of theft, including ID fraud, are steadily increasing.
  5. Lawsuits are expanding beyond traditional areas to injuries caused by social medial exposures.

Here's how Premier Choice lets you plan for them:

  1. Guaranteed Replacement Cost Coverage pays to replace the cost of your house if it is a total loss (not repairable) even if the cost to do so exceeds the Coverage A limit of your policy. Guaranteed replacement cost coverage is one of the hardest-to-find coverages in the insurance industry.
  2. Enhanced Personal Property/Contents Coverage pays up to 75% of your Coverage A limit for losses to your personal property and includes Replacement Cost Loss Settlement – that means that no depreciation applies to your claims settlement.
  3. Coverage for Ordinances or Laws that force you to incur increased repair costs when you are subject to the enforcement of any ordinance or law that regulates construction, demolition, renovation, or repair.
  4. Disaster Identity Recovery Services are included in the 12 specialty restoration and recovery services in our Identity Fraud Expense Recovery & Restoration Services program. Specialists quickly recapture destroyed documentation you'd need to rebuild your life, help ensure uninterrupted access to your financial institutions, and facilitate communication with your family, friends, and providers.1
  5. Personal Injury Protection (This is where "sticks and stones" comes in.) is simply something everyone should have. In fact, insurers generally require you to have this coverage before you can purchase an umbrella (excess liability policy). It covers your liability to others for costs related to a liability suit arising from libel, slander, invasion of privacy, etc.

Thorough. Flexible. Smart.

Premier Choice covers a great deal more than just the five coverages listed above. In fact, it has 18 more coverages and 18 higher coverage limits than our basic homeowners policy. Those give it excellent range and serious depth of coverage.

This coverage overview illustrates Premier Choice's coverages, services, and limits in a simple, easy-to-scan format. We think people want to make educated choices, so we provide real information about what coverage options include.

  1. Actual Value Coverage endorsements allow you to schedule individual items for a value based on a third-party appraisal of the property.
  2. Agreed-Value Coverage endorsements insure property for an amount based on an appraisal of the property that is then mutually agreed upon by you and Electric Insurance; this coverage is very useful for excluding individual items from a Blanket endorsement in order to provide a higher rate of coverage.
  3. Blanket Coverage endorsements cover classes of personal property – for example, collections – rather than individual pieces, and claims are settled on an actual cash value (ACV) basis.

The View from 30,000 Feet

Go here for a close-up view of these coverages and see how they could apply to your situation.

18 Additional Coverages

  1. Enhanced Coverage for Personal Property Replacement (The Replacement Cost Loss Settlement provision means that no depreciation applies to your claims settlement.)
  2. Water Backup & Sump Discharge or Overflow
  3. Personal Injury
  4. Identity Fraud Expense Recovery & Restoration Services
  5. Volunteer Wrongful Acts
  6. Business Data
  7. Lock Replacement
  8. Food Spoilage
  9. Incidental Business
  10. Loss Assessment Association Deductible
  11. Electronic Apparatus & Accessories (primarily used for business) In/Upon a Vehicle
  12. Electronic Apparatus & Accessories In/Upon a Vehicle
  13. Land Restoration
  14. Jewelry, Silver & Securities in Bank Vault
  15. Mortgagee Extra Expense
  16. Personal Computer Data Re-creation
  17. Police Department Service Charge
  18. Reward Coverage

19 Higher Coverage Limits:

  1. Contents Coverage
  2. Damage to Property of Others
  3. Medical Payments to Others
  4. Theft of Jewelry, Watches & Furs (Unscheduled)
  5. Theft of Silverware
  6. Theft of Firearms
  7. Business Property at Home
  8. Credit Cards, Electronic Funds Transfer Card, or Access Device; Forgery & Counterfeit Money
  9. Debris Removal
  10. Fire Department Service Charge
  11. Incidental Business
  12. Loss Assessment
  13. Money (Unscheduled )
  14. Ordinance or Law
  15. Trees, Shrubs & Other Plants
  16. Valuable Papers & Securities
  17. Watercraft – Outboard Boats – Liability
  18. Boats & Trailers Used with Watercraft
  19. Trailers Not Used with Watercraft

*This page offers a brief description of insurance coverage and/or related services offered by Electric Insurance Company and is provided for informational purposes only. Guaranteed replacement cost coverage is available with endorsement packages; exceptions may apply to certain features of the structure; applicants must meet underwriting requirements in order to qualify. For exact coverage provisions, availability, terms, limitations, and exclusions, please contact Electric Insurance Company at 800.227.2757.In the event there are discrepancies between this information and the policy, the terms of policy apply. 

1 Identity Management Services are powered by CyberScout™.



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