Home Insurance Portland, OR
Home insurance is designed to protect your home and personal property in Portland, OR, and enable you to rebuild your home from the ground up if the unthinkable happens. Schmidt Insurance Group can customize a policy just for you.
About Us
Schmidt Insurance Group opened its doors in Lake Oswego in 2019 with a goal of making insurance easy while providing exceptional customer service. We proudly serve the local Portland area, and the entire states of Oregon and Washington. Our team is specially trained in high-net-worth households and can help you find the exact amount of coverage you need.
The Four Essential Protections of Homeowners Insurance
Dwelling Coverage
Your home insurance policy, also called a homeowners insurance policy, pays to repair, rebuild, or replace your home and detached structures on your property, such as a garage, gazebo, or tool shed, in the event of a destructive event, such as fire, wind, hail, theft, vandalism, water damage from burst pipes, and other perils that are listed in your policy.
A standard policy will not cover damage from flood, earthquake, or routine wear and tear. However, you can add specific coverages for an additional cost.
TIP: While this may sound obvious, make sure you have enough home insurance coverage to completely rebuild your home in the event of a disaster.
Personal Property Coverage
Personal property insurance covers the furniture, clothes, sports equipment, appliances, computers, and other personal belongings you keep both on and off the premises if they are stolen or destroyed by fire, hurricane, or other insured disasters.
Expensive items like jewelry, art, antiques, and collectibles are covered, but there will typically be dollar limits. To insure these items to their full value, you will need to purchase a special personal property endorsement
Again, you will want enough insurance to cover the value of all of your personal property. The best way to determine this is to conduct a home inventory.
TIP: Take advantage of home inventory apps for smartphones, such as Nest Egg, Sortly, or MyStuff, that will help you log, price, upload photos of, and track all of your items.
Liability Coverage
Homeowners can be found liable for injuries that occur in their homes, on their property, or when they’re away from home. It will also help cover your liability for any injuries or property damage to others that are caused by you or members of your family (including your household pets).
Liability limits typically come in set amounts such as $100,000, $300,000 and $1,000,000. If you have significant assets and need more coverage than your home insurance policy can provide, consider buying an umbrella policy which provides broader coverage and higher liability limits.
TIP: Ask us to prepare quotes for different levels of liability limits; the difference in yearly premiums is often minimal!
Additional Living Expenses (ALE)
This coverage pays to reimburse you if you are unable to live in your home because of damage caused by an insured disaster. It covers hotel bills, restaurant meals, and other costs over and above your usual living expenses that you incur while your home is being rebuilt.
TIP: If you rent out part of your home, your Additional Living Expenses coverage will also cover the rent you would have collected from your tenant had you home not been destroyed.
Home insurance protects your home and personal property in Portland, OR — that’s a no-brainer. At Schmidt Insurance Group in Lake Oswego, we can also help prepare you for other unexpected things! Contact us today at (503) 206-0881 for a free quote, and find out how we can help.
