The National Association of Mutual Insurance Companies (NAMIC) estimates that over 60 percent of properties in the United States are underinsured, with many having less than 50 percent of the insurance coverage they need. To ensure that your property is adequately protected, it is essential that homeowners and farm owners understand what coverage options are available.
Homeowners insurance is designed to cover a wide array of losses and damages. This includes both interior and exterior damage of the property itself, theft or other loss of your assets, and more. These policies cover common issues like fire or break-ins.
Several types of homeowners policies are available, including programs for owner-occupied single family homes and mobile homes, renter occupied properties, and other private structures.
Individuals who own small farms can also receive insurance coverage to protect their property. Farm owner insurance typically covers principal farm residences or owner-occupied mobile homes, personal property, additional farm structures, and personal liabilities. We primarily provide coverage for tenant and hobby farms.
The Importance of Tailored Policies
While such insurance policies can be helpful, they are most effective when tailored to the specific needs of the property owner. Pike Mutual is unique in this way by offering greater levels of customization to better fit your needs and preferences. For example, you don’t need to bundle products to insure your property. Pike Mutual will insure your home while your agent can help you shop around for other insurance products you might need.
Customization also applies to specific items on your policy. For example, you don’t have to insure your barn for the full replacement cost if you wouldn’t be interested in rebuilding it. This can lower the cost of your policy.
At Pike Mutual, we take a hands-on approach, spending much of our time each year talking with agents to continually improve product offerings. Contact one of our agents today so we can help you find a customized policy that meets your needs.