MRW Insurance Services

Home FAQ's

Q:

What is homeowners insurance?

A:

Homeowners insurance is a form of personal lines insurance. The typical homeowners policy has two main sections:
1) covers the property of the insured and
2) provides personal liability coverage to the insured.

Q:

What do I need to know when purchasing homeowners insurance?

A:

  • Get the amount and type of insurance that you need.
  • Determine the amount of personal property insurance and personal liability coverage that you need.
  • Select any additional endorsements you want to add to your policy. For example, do you want the personal property replacement cost endorsement?

Q:

What is "actual cash value"?

A:

When "actual cash value" is used in a policy, a policy owner is entitled to the depreciated value of the damaged property.

Q:

What is replacement cost"?

A:

When "replacement cost" coverage is used in a policy, a policy owner is reimbursed an amount necessary to replace the article with one of similar type and quality at current prices.

Q:

Where and when is my personal property covered?

A:

Coverage C of a homeowners policy provides named perils coverage. This applies to all your personal property (except property that is specifically excluded).

Q:

Should I purchase earthquake coverage?

A:

Direct damages due to earthquakes are not covered under the standard homeowners insurance policy. If you live in an area that is prone to earthquakes, you may want to consider adding an earthquake endorsement to your homeowners insurance policy. This endorsement will cover damages due to earthquakes, landslides, volcanic eruptions and other earth movements.

Q:

Should I purchase flood coverage?

A:

If your property lies in a flood plain as determined by US Government Flood Maps. Ask your independent agent about a flood quote.


Visit or contact us at our headquarters at the
Matrix Corporate Park in Hauppauge, 
New York:

1373 Veterans Memorial Highway
Suite 8
Hauppauge, NY 11788

Phone: (631) 271-6600 
Fax: (631) 271-6618 

MRW Insurance Services is a full-service independent insurance agency offering a multitude of insurance products from top-rated companies to fulfill all your insurance needs. Our objective is to provide superior customer service and quality insurance solutions to all our customers. MRW is dedicated to getting you the best insurance products and services available today to protect you, your family and your business.

We have access to rates with more than 45 insurance companies to get you the best coverage at the lowest cost.

Our dedicated, professional staff members are ready to give you the personal attention you deserve.

Click here for a free quote on your insurance!

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