homeowners insurance



In short, the function of homeowners insurance is to provide financial protection in the case of insured disasters as well as legal responsibilities for injuries and property damage you or members of your family cause to other people, including damage caused by household pets. It covers the structure of your home and the personal belongings you keep in it.

Most damage from disasters are covered with homeowners insurance, with the exceptions of floods, earthquakes, and substandard maintenance. Separate policies may be available for flood and earthquake, depending on your property’s location.

standard homeowners coverages include:

 additional coverages may include:

  • the physical structure of your home
  • personal possessions
  • additional living expense (in the event of a covered loss)
  • liability
  • Valuable Articles/Floater insurance policies (i.e. Jewelry Insurance)
  • Pet Liability (additional liability for¬† household pets)
  • Earthquake Insurance
  • Flood Insurance
  • Umbrella Policies (additional liability)


There are several different types of homeowners policies. If you own your home, the most popular policy is the HO-3. HO-8 policies are designated for older homes. If you rent your home, you’ll need an HO4 Renters policy which is different than a standard homeowners policy in that it only covers your personal belongings (since there is no need to cover the house or apartment itself). Lastly, the HO-6 condo/co-op is specific to condo owners.


Regardless of whether you rent or own, you’ll have three options regarding your level of coverage.

  1. Actual Cash Value accounts for the current cost of an item, minus depreciation
  2. Replacement Cost Value is what it costs to replace or repair the property at the present time, at the current worth.
  3. Guaranteed or Extended Replacement Cost (Fixed Value) is similar to Replacement Cost Value, but it can cover up to 20% more than standard policy limits, depending on the insurance company. This coverage comes in handy when there has been an area-wide natural disaster such as a tornado or hurricane, which can drive the cost of building materials up to a point that could leave the homeowner financially responsible for excess repairs.

If you live in California, Oregon, or Washington State, we’d be happy to help you determine the proper amount of insurance coverage for your home. We have many top notch insurance companies to choose from to make sure you are getting the value and quality that you need from your homeowners insurance policy. Be sure to ask us if bundling (combining your home and auto insurance with the same company) is right for you. In most cases, whether you bundle or not, we can save you money.

Give us a call (888) 310-1027 or send us a message with any questions or contact us below.

Contact Salmon Bay Insurance

We welcome your questions, inquiries, and business. Please send us a note.

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Salmon Bay Insurance Agency, Inc. is an independent insurance agency headquartered in Seattle that provides personal and business insurance services to those residing in California, Oregon, and Washington state.


2442 NW Market Street
# 201
Seattle, WA 98107

Monday – Friday
9 AM – 5 PM PST


(206) 707-9200

(888) 310-1027

(206) 230-7799