Senior Living Guide

Buyingpeaceofmind Three-quartersofSantaRosafirevictimswereunderinsured A fterthe2017SantaRosafires I had many phone calls to my office asking "How would my coverage pay out?" and "Do I have enough coverage?" Good questions. For this article we'll be talking about anHO-3HomeownersPolicy for a single-family dwelling used as a primary residence. These policies have three features to help you rebuild the main structure after a fire and the first coverage is your Coverage A: Dwelling. This dollar amount will apply to the structur e as it stands with whatever building permits and other documentation for improvements since its construction. For minor fires the dwelling amount is enough to take care of repairs to the building, but if you have a major fire which requires a complete rebuild the policy has an Extension Coverage that kicks in an additional 20 percent, 25 percent, or 50 percent of the dwelling amount depending on your policy and endorsements. Because building codes are constantly updated, The HO-3 Homeowners Policy has building ordinance or law coverage to bring your building up to code. Many homes in Marin are over 50 years old and the building ordinance or law coverage is where many homes are grossly underinsured. Most policies start with an additional 10 per cent of the dwelling amount for building ordinance or law which is not enough for those older homes, see if it can be increased. Those three features will apply to rebuild your home, but while you are waiting for your home to be rebuilt you still have to pay your mortgage and now you have additional living expenses in having to live somewhere else. Here is where your Coverage D: Loss of Use coverage saves you. It may be represented as a dollar amount or a number of months or both. n David Stompe has lived in Novato since 1970. He is a licensed insurance agent since 1999, started his Farmers Insurance agency in 2006 and has been an active Rotarian since 2007. He served as club president for the 2013-14 Rotary year. By David Stompe Special to the Marin IJ Parent-SorenSen Mortuary & CreMatory (FD12CR91) Proudlyofferingkind,professionalcremationandburialarrangements to all we are privileged to serve. As an independently owned funeral home, we are able to provide you with personal attention and no pushy sales tactics. It is ourgoal to make a difficult process as easy as possible, foryou and yourloved ones. 850 Keokuk Street, Petaluma, California 94952 Ph: (707) 763-4131 Fax: (707) 763-4765 www.ParentSorensen.com JAMESM.SMITH (FDR1708) ANDREA L. RODGERS (FDR2369) JAMES R. GOTELLI (FDR2000) Honoringpatientwishes • Empowering families Covered by Medicare/private insurance Serving the counties of Marin, San Francisco, San Mateo, Sonoma, and the cities of American Canyon, Napa and Vallejo (415) 927.2273 • www.hospicebythebay.org PatientandFamilyCenteredCare Contactus: JaneRichmond 415-531-4091 Lic#00709300 Peter Richmond 415.279.6466 Lic #01191042 Dorinne Low 415.261.8899 Lic #00776295 www.mbbre.com | email: rlteam@mbbre.com I I n n t t r r o o du du cin cin g g T T h h e e R R ich ich mo mo n n d-L d-L o o w w T T e e a a m m Three experienced Marin realtors have joined together to serve the real estate needs of Boomers and Beyond – a new division of our ongoing real estate practices Areyouatacrossroads?What'snext? Empty nest – Retirement Easier home upkeep – Closer to family Physical needs – Lifestyle choice Parent care – Active adult community Is it time to sell your home? We can help. 12 June 10, 2018 Senior Living A Marketing Supplement of the Marin Independent Journal | marinij.com

• Cover