Residential & Home Insurance
Fire and Extended Coverage
Fire and Extended Coverage (FEC) policies can be written and adapted to a wide range of situations to fit a variety of policy needs. FEC policies can be written on older homes, lower value homes, homes under construction, homes under renovation, rental houses, or for those that may want or need personal liability coverage. FEC policies are written on an actual cash value basis, meaning claims made on the property will be paid based on the value of the property at the time of the loss. These policies can be written with either basic or broad form coverage, which are explained below:
- Basic form coverage: Our most basic level of coverage that protects your property against the basic perils. This coverage is often written on homes that have a lower value or are in poor condition, homes that are unoccupied, unoccupied homes undergoing renovations, homes that are not owner occupied (such as a rental house), and mobile homes on piers. Basic coverage policies do not automatically include coverage for other structures and additional living expenses (Coverage B and Coverage D), but they can be added on to the policy. Liability protection is also not automatically included on the policy, but it can be added on.
- Broad form coverage: The next step up in coverage that protects against the broad perils. Broad coverage is usually written on older homes in good conditions, homes that are occupied and undergoing renovations, homes that are not owner occupied such as rental houses, and mobile homes on permanent foundations. Unlike basic coverage, broad coverage automatically include Coverage B and D in the policy. An endorsement can be added to broad form coverage to add replacement cost settlement terms to certain areas of the structure, such as the roof. Liability protection is not automatically included on broad form policies, but it can be added on.
Homeowners Coverage
Homeowners coverage provides a more comprehensive range of coverage than FEC policies. This coverage is reserved for newer homes that are owner-occupied and in very good to excellent condition. Homeowners coverage can be written with either broad form coverage or special form coverage.
- Homeowners broad form coverage: The main difference between broad form homeowners policy and a broad form FEC policy is the added protections for a homeowners policy. Homeowners broad form policies still protect against the same broad perils as an FEC broad form policy, but your dwelling structure is covered under replacement cost terms instead of actual cash value terms. This is typically due to homes on a homeowners broad form policy being newer and in better condition than those on an FEC broad form policy. The homeowners broad form also includes personal liability coverage in the policy.
- Homeowners special form coverage: The homeowners special form coverage is the highest level of coverage that we offer for home insurance. This coverage is for newer homes that are in excellent condition. Like the homeowners broad form coverage, the dwelling structure is insured replacement cost terms instead of actual cash value terms like other policies. Special form coverage is also written under an “open perils” basis. This means that a loss to your home is covered as long as the peril that caused the loss is not specifically excluded under the policy. Like the homeowners broad form, policies written on the special form coverage have personal liability protection included in the policy.
Condominium Coverage
Condominium coverage provides protection for both condos that are occupied year-round, as well as condos that are only occupied seasonally. Our condo coverage includes protection for the interior structure and additional living expenses (Coverage A and Coverage D), while personal contents coverage (Coverage C) can be added on to the policy. Condos that are occupied year-round can be covered under replacement cost terms and can include personal liability coverage.
Seasonally occupied condos have the same coverage types as condos that are occupied year-round. Where they differ is the settlement terms of the policy. Seasonally occupied condos will have the interior structure itself covered under actual cash value, while personal contents that are added to the policy are covered under replacement cost terms. Both seasonally and year-round occupied condos are covered by the following perils:
- Fire & lightning
- Wind & hail
- Explosion
- Freezing
- Water & sewer backup
- Theft
- Riot or civil commotion
- Aircraft
- Vehicle
- Smoke
- Collapse
- Volcanic eruption
- Vandalism
- Falling objects
- Weight of ice, sleet, or snow
- Artificially generated electric currents
- Refrigerated food spoilage
- Sudden tearing, cracking, burning, or bulging of water, air conditioning, or heating systems.
Dwelling Packages
Package policies are written for homes that fall in between the standard basic or broad form coverage and homeowners coverage. They offer some flexibility and better protection than a standard basic or broad form coverage policy by offering different settlement terms for claims. With basic or broad form coverage, claims are typically settled on actual cash value terms for both the dwelling and personal contents. With package policies the claim settlement terms are as follows:
- Dwelling roof: Replacement cost (by wind or hail damage only)
- Dwelling structure: Actual cash value
- Personal contents: Replacement cost
- Fire & lightning
- Wind & hail
- Theft
- Smoke
- Vandalism
- Burglary damage
- Explosion
- Vehicle
- Collapse
- Sinkhole
- Falling objects
- Aircraft
- Volcanic action
- Water & sewer backup
- Weight of ice, sleet, or snow
- Refrigerated food spoilage
- Riot or civil commotion
- Artificially generated electrical currents
- Minimum Coverage: $50,000
- Maximum Coverage: $170,000
- Dwelling must be in “good” condition
- The Coverage C limit starts at 30% of the Coverage A (dwelling) limit.
- Must be owner-occupied.
- Minimum Coverage: $50,000
- Maximum Coverage: $175,000
- Dwelling must be in “very good” condition
- The Coverage C limit starts at 30% of the Coverage A (dwelling) limit.
- Must be owner-occupied.
- Not available for customers in Southeast Missouri.
- Minimum Coverage: $50,000
- Maximum Coverage: $200,000
- Dwelling must be in “excellent” condition
- The Coverage C limit starts at 40% of the Coverage A (dwelling) limit.
- Must be owner-occupied.
- Not available for customers in Southeast Missouri.
- Minimum Coverage: $80,000
- Maximum Coverage: $350,000
- Dwelling must be in “excellent” condition
- The Coverage C limit starts at 50% of the Coverage A (dwelling) limit.
- Must be owner-occupied.
- Minimum Coverage: $80,000
- Maximum Coverage: $350,000
- Dwelling must be in “excellent” condition and meet homeowners requirements.
- The Coverage C not included.
- Dwelling is not owner-occupied.
The policy information given on this page is a summary containing basic information of home insurance policies offered by Farmers Mutual Insurance Company of Nodaway County. These details are not exhaustive or comprehensive. Please consult your individual policy documents for a complete description of your coverage types, levels, and policy conditions.