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Fida Insurance Group

244 Monroe Turnpike (Route 111)
Monroe, CT 06468

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When are you legally required to carry home insurance?

While Connecticut doesn’t require you to purchase homeowners’ insurance, your bank can, and that remains perfectly legal. It goes back to the federal deposit insurance that each bank carries.

As long as you maintain a mortgage on your Monroe, CT home, you’ll need to maintain a homeowners’ insurance policy from Fida Insurance Group. That’s because the bank must require the insurance to protect itself from the risk of loaning out the funds it insures through the Federal Deposit Insurance Corporation (FDIC).

The FDIC protects all of the money in the bank. That means it protects the money you deposited, that your next-door neighbor deposited, and that the dry cleaning business you use deposited.

It may sound like that double insures things, and it does. The FDIC insures the deposits to the bank, but when the bank loans the money, it no longer sits in its vault. The FDIC insurance covers the money in the bank. That means the bank needs to make sure that you can pay your mortgage if something happens to your home to damage it.

Repairs to homes cost a lot, which could negate your mortgage payments. By requiring you to carry home insurance, the bank alleviates its risk of loaning you the money.

This may seem like passing the buck, but the federal government alleviates bank risk by offering insurance, and the bank alleviates its risk by requiring insurance. The upshot of the insurance requirements results in loans, so more people can buy homes and experience the security of homeownership.

When you visit Fida Insurance Group serving Monroe, CT for insurance for your home insurance, we’ll help you choose the right type because home insurance comes in eight different types. Call us today for coverage.

Why do people in Monroe need home insurance?

The Monroe, CT area can be a great place to invest and purchase a home. If you want to buy a home when you are in this region, you will want to know that your investment is protected for years to come. A great way that this can be done is by getting a home insurance plan. There are various reasons why people in this area will need to carry home insurance. 

Coverage Will Offer Protection

A reason that many in this area of the state will get home coverage is for the protection that it provides. Your home insurance plan offers coverage that will cover your dwelling and personal assets, up to the limits of your policy. It will also offer a provision for liability insurance protection. Ultimately, this can help to provide great financial support if an accident or other form of loss occurs.

Owners Need Insurance to Comply with Requirements  

It is also very common for property owners in this area to get home insurance as it will be a requirement set by their home loan provider. If you have taken out a loan to buy a home, you undoubtedly will need to get insurance for it. Further, any home association that you are a part of will require you to get coverage. 

People that are in the Monroe, CT area will find that owning a home can be a great long-term decision. When you are evaluating your home purchase needs, spending time assessing your insurance needs as well is important. When choosing a new plan, calling the Fida Insurance Group is important. The team with the Fida Insurance Group can give you the support that you need to build a plan that will protect your home and keep you in full compliance. 

Three Riders to Consider Adding to Your Home Insurance

Homeowners insurance is designed to protect your home and personal belongings from damage and theft due to natural disasters, fire, and a variety of other unforeseen circumstances that may arise. Although home insurance is indeed beneficial, the majority of policies will limit coverage. The good news is that there are insurance riders that can offer Monroe, CT residents supplemental protection for when their standard home insurance policy won’t cover a situation. Contact us at Fida Insurance Group to add any of the below riders to your home insurance policy.

Personal Property Rider

Although you can be reimbursed by your insurance company when your personal property is damaged or stolen, there are exceptions to the rule. For instance, you are likely only to receive reimbursement up to a certain amount for firearms, jewelry, collectibles, and other valuables. Depending on the value of your personal belongings, the amount you receive could be considerably less than the true actual value of these items. With a personal property rider, you will have additional coverage, allowing you to be compensated for their full value.

Home Business Rider

It is not uncommon for people to run a business out of their home. This is extremely convenient, but it can also create a number of complications for your home insurance. More than likely, your insurance will not cover any equipment or inventory that is damaged or lost if your home is broken into. The same is true if a customer suffers an injury on your property. To ensure you are fully protected, a home business rider is a wise investment.

Water Damage Rider

Your home insurance will cover certain types of water damage, such as overflowing appliances and burst plumbing pipes. However, if there is water damage that occurs inside of your home from an outside source, such as a sewer backup or flooding, it is unlikely that your homeowners insurance will cover the damage—and these costs can be exorbitant. Therefore, with a water damage or flooding rider, you can ensure that you have the proper coverage in the event of external water damage.

If you aren’t sure what riders you need for your Monroe, CT home, connect with us at Fida Insurance Group and we will help determine the best coverage for your home and situation.

What are the Most Common Home Insurance Claims?

Homeowner’s insurance protects your home and your personal belongings inside. In the event of damage, disaster, or theft, homeowner’s coverage can be a lifesaver. Here at the Fida Insurance Group, serving Monroe, CT, we can help you find the right homeowner’s policy for you. But did you know that you can lower your premiums if you take steps to mitigate your risk against common claims?

Wind and Hail

The damage caused by wind and hail is the most common home insurance claim. Tornadoes, thunderstorms, hurricanes, and other natural phenomena are encompassed under this type of claim. And while there may be no steps for you to mitigate your risk, Fida Insurance Group is here to keep you safe and protect your home.

Fire and Lightning

One of the most expensive and damaging claims is that of a fire. These fires can be caused internally or by lightning strikes, but they can destroy a lot of property quickly. However, you can lower your risk by having a fire extinguisher or blanket, a working smoke alarm, and having a carbon monoxide detector. While these cannot protect you against a fire from ever happening, it can reduce what is lost.

Water and Freezing Damage

A burst pipe in the winter or an appliance leak in the summer, water damage is an often-occurring home insurance claim. The best way to mitigate this risk is to check and maintain your plumbing, water lines, and sprinkler systems frequently, and steps to protect against freezing.

By speaking with one of our agents here at Fida Insurance Group, serving Monroe, CT, you can learn about the variety of coverage options, and what you can do to mitigate your risk. We are happy to help answer any questions regarding homeowner’s insurance and help you find the right policy.

How Often Should You Update Your Home Insurance Policy?

Updating a home insurance policy isn’t something most people think about. They get their insurance, and then they keep it active so they can protect their home the right way. But there’s more to the story than just having a policy. When life changes, you make updates to your home, or there are other factors that come into play, updating the policy can be very important. If you’re in the Monroe, CT area and are concerned about updating your homeowner’s coverage, Fida Insurance Group can help you get the support you need and get your questions answered.

In most cases, it’s good to review your home coverage at least once per year. Of course, you may need to review it more often if you have substantial changes in your home. Adding onto your structure, for example, or doing a large remodel, could mean needing an update. You may also need to update if you have more people in the home, get a dog or an exotic pet, or purchase an unattached structure for the property or an item that might not typically be covered, such as a grand piano. If you’re in doubt at all, asking your agent can put your mind at ease. 

By reaching out to Fida Insurance Group today, you can get any questions answered and updates made to your home insurance policy. Anyone in or around the Monroe, CT area can get in touch with us and our agents will be happy to address their policy concerns. Because a house is such a large and important asset, it’s very important to make sure it has the right type and level of protection. Then you won’t have to worry about it and can get back to living your life and enjoying your home to the fullest.

3 Ways to Protect Your Home from a Fire if You Have a Fireplace

When the temperature drops, there is nothing cozier than a warm fire in the fireplace. Residents in Monroe, CT can turn to the agents of Fida Insurance Group to help them choose a homeowners’ policy that provides them with the coverage they need. It’s important to have the right type of coverage in place to ensure that you have sufficient coverage, especially if you have a fireplace or woodburning stove. 

Use a Fireplace Screen

A firescreen sets in front of your fireplace and works to prevent embers and sparks from finding their way onto the floor or other flammable surfaces. Fireplace screens do not block the heat, only the sparks and hot embers. Fireplace screens can be found that are very basic or extremely decorative. 

Keep Flammables Away From the Fireplace

Most resources advise homeowners to keep any flammable materials at least six feet away from your fireplace when a fire is burning. This includes rugs, furniture, curtains, clothing, home decor, or kindling. 

Keep a Fire Extinguisher Handy

Having a fire extinguisher handy is also a good idea. This will allow you to take control of a situation that does occur. Being able to put a fire out quickly is the best way to prevent extensive damage to your home. It only takes a few seconds for a fire to get out of control.

The agents of Fida Insurance Group offer Monroe, CT residents the best possible service when it comes to quality homeowners’ insurance policies. Each agent has the experience that residents can rely on. If you are looking for the best possible insurance coverage, call the office of Fida Insurance Group. The agents can provide you with the information you are looking for.

How Does Home Insurance Cover Carpeting?

When you install new carpeting in your Monroe, CT home, you’ll want to put in a call to your insurer and let them know.

As a general rule of thumb, if it’s attached to the home, it’s part of the home. If it’s not, it’s filed under possessions. This means that new carpeting, or any flooring, is included with the value of the home. And, it means that a throw rug is a possession. Even a room-sized rug is a possession. These will be included in your inventory alongside your TV, jewelry, and so on.

This extends to furniture and appliances and such, as well. A sofa is a possession. But if you convert a window into a sitting window, that’s part of the home. The throw pillows you use to cushion the seat are possessions, but what you sit on is part of your home.

There are a few exceptions to the "if it’s attached" rule, of course. A poster you’ve hung up on your bedroom door isn’t part of the house, as far as your home insurance provider is concerned. Shelves can be part of the house, but because shelves are generally cheap and easy to replace, most people don’t bother getting them covered on their policy either way. Cabinets, on the other hand, are very much a part of the structure.

If you’re ever unsure as to whether something is a personal possession or part of the home, give your insurer a call. It’s not always set-in-stone or uniform from one insurance company to the next, and your insurance agent is here to answer your questions, that’s a big part of what you pay them for.

If you’re still shopping around for home insurance in Monroe, CT, get in touch with Fida Insurance Group. At Fida Insurance Group we can compare quotes and get you protected with a policy that works for you.

5 Ways to Prepare Your Home for the Holidays

If you’re hosting festivities this holiday season, now’s a good time to prepare your home to avoid holiday stress. The following tips from Fida Insurance Group offer some good advice on prepping your Monroe, CT home for the holidays.

De-clutter

Get rid of stuff that’s cluttering up your living space and making it appear disorderly. This could include magazines, books, piles of clothing, toys, sports gear or anything else lying around where it doesn’t belong. Store useful items out of sight and give or throw away what you don’t need to spruce up your home.

Deep Clean Key Areas and Structures  

Deep clean your living room, bathrooms and kitchen to prepare for visitors to your home. Wash windows and curtains, professionally clean carpets, clean light fixtures and put a fresh coat of paint on walls. By starting early, you can get these major projects done with time to spare for holiday fun.     

Decorate Your Home

Decorations add a special touch to holiday fun. You can put up fall décor several weeks before Thanksgiving to get into the spirit of the holiday and then start decorating for Christmas shortly after Thanksgiving is done. This gives you plenty of time to create an attractive holiday atmosphere throughout your whole home.

Prepare for Guests

Tidy your guest room and organize guest towels, linens and pillows to ensure you have what you need to make guests feel at home. Don’t forget to stock up on bathroom essentials and toiletries for when visitors come.   

Review Home Insurance

Review your home insurance to ensure you have ample dwelling, liability, and property coverage to protect you against accidents. With adequate insurance protection, you can be prepared for any eventuality during the holidays.

For quality home insurance coverage at affordable costs, contact Fida Insurance Group in Monroe, CT.

What winter weather events are covered by basic homeowners insurance

Winter weather is a part of life in Monroe, CT. Wind, freezing rain, snow, hail, and arctic-like temperatures are all part of living in New England. New Englanders are a hearty bunch and have learned how to deal with the extremes of weather that must be dealt with. Part of dealing with winter weather is knowing that if a catastrophic event happens to your home, you have the coverage necessary to repair or replace the things that have been damaged or lost. A visit to the office of the Fida Insurance Group can help you to be sure you have the necessary coverage. 

Covered damage

Your roof is particularly vulnerable to weather-related damage. Wet snow can be very heavy and it can cause some roofs to collapse, This includes the roof on your shed or garage. Gutters can fill with rain and then freeze which causes an ice dam that allows water to force its way under your roof and into your home. Freezing rain can coat the trees in your yard and when trees get ice covered the branches can fall, sometimes they fall onto structures like your deck, your home or your gazebo. HIgh winds can come with some winter storms and they can cause lots of damage to the exterior of your home. 

When your driveway or sidewalk gets icy, someone may fall and get injured. Your home liability insurance will protect you in this case. 

Winter storms can knock out the electricity and this can lead to frozen pipes that burst and can cause a lot of damage. While fixing the pipe might not be covered the water damage will be. 

Winter in Monroe, CT can throw a lot of hazards your way. Why not call or stop by the office of Fida Insurance Group and let then give you a no-obligation quote so that you can relax and enjoy your home no matter what the season. 

 

 

Is it Time to Upgrade your Home Insurance?

If you haven’t reviewed or updated your home insurance in a while, now is a good time to do so. You don’t want to be caught off guard in the event of a disaster. By reviewing your coverage with a Fida Insurance Group agent, you can see if adjustments need to be made in your policy to compensate for changes in your structure, contents or lifestyle. The beginning of a new year is a good time to update home insurance to ensure you’re protected throughout the coming year.

Is It Time to Upgrade Your Insurance?

If you renovated your home over the last year, you’ll need to include these renovations in your coverage. Major renovations like a new roof,  new bathroom or deluxe kitchen remodel could increase your home’s value, making your current coverage insufficient to fully protect your property. Upgrading your dwelling insurance will help compensate for this increased value. By having your home in Monroe, CT reappraised, you can get a better idea of the new value of your property so you can adjust your coverage accordingly.

In like manner, you may have received pricey gifts or made costly purchases over the holidays that need to be added to your coverage. If the limits of your contents insurance are too low to protect these goods, you’ll need to raise them or get additional insurance (an endorsement) to fully protect your valuables.

Liability coverage is yet another area to review on your policy. If you’re entertaining more or having people stay over for extended periods of time, you may need more liability coverage to protect you against accidents.

Benefits of Upgrading Insurance Coverage

Upgrading your coverage gives you greater protection against unforeseen accidents and disasters. To upgrade your home insurance policy, contact an agent from Fida Insurance Group, Monroe, CT.