VACANT & FLIPS
Vacant policies are most commonly used for investment properties, or flips, and covers the structure only. Your premium is calculated based on reconstruction cost – how much it would cost to rebuild your home. We use information like your zip code, square footage, number of bedrooms and bathrooms, flooring, and updates or renovations to find the value.
All Paine Insurance Group policies are based on replacement costs, not actual cash value. Replacement cost doesn’t include depreciation, which means we will replace your loss with the newer version.
Your policy will state a 1% deductible per occurrence, or claim, for Wind & Hail/Tornado.
ASK YOUR AGENT ABOUT THE FOLLOWING COVERAGES
Roof coverage replaces or repairs your roof after hail and wind damage, up to 100% replacement value for homes newer than 7 years old.
Premises liability insures you against lawsuits for damages or injuries you or your family may cause on or off your property. So if a builder or construction worker gets hurt, premises liability will cover the damages.
Medical payments cover any medical expenses incurred by other people on your property. If your water hose is laying on the sidewalk and your neighbor trips, falls, and breaks his leg, then your medical payments coverage will cover his medical expenses.
You don’t have to be purchasing a new home, refinancing, or buying a new car to get an insurance quote.