Home Insurance

Home & Condo Insurance

We understand that your home is likely your most valuable investment and that’s why we take particular pride in calling ourselves the Arkansas Home Insurance experts. We live and work in the beautiful Natural State. This is our home too! If a storm lands in our back yard, we will be right here in the trenches with you, ready to assist you in filing your claims and helping get your home made whole again. But it all starts with hiring us as your home insurance agent, so we can be sure you have the right coverage before the storm. The Alan Springer Agency is dedicated to providing the highest quality home insurance in Hot Springs and surrounding area.
Home Insurance Coverages
When shopping for Home Insurance in Hot Springs you should become familiar with six basic types of coverages:

1. Coverage A | Dwelling

Protects against the damage and possible loss of your home in the event of a covered claim such as a hurricane, hail, lightening or fire. (Separate policies are needed for flood and earthquake insurance.) It’s important to have enough dwelling coverage, but not too much. Our agency does a complete dwelling replacement evaluation of your property to make sure we have just the right amount of dwelling coverage on your Arkansas home.

2. Coverage B | Other Structures on your Property

In Arkansas, this is typically a detached garage and other structures on your property not connected to your home.

3. Coverage C | Personal Property (aka contents)

Take your home, flip it upside down, and shake it. Everything that falls out is likely Personal Property. This is your STUFF. Computer, TV, furniture, clothing, guns, jewelry, etc.

4. Coverage D | Loss of Use

Provides for your living expenses in the event that you cannot live in your home due to a covered loss. This type of coverage typically covers hotel and restaurant bills and other living expenses you may incur while your home is being repaired.

5. Coverage E | Personal Liability

In the event that you or anyone in your household is accused of accidentally causing injury or damage to property, your Arkansas home insurance liability coverage can help by providing for legal defense fees and, in the event of a settlement or judgment, can pay damages (up to your policy limit).

6. Coverage F | Medical Payments

Guest medical coverage, included in most residential insurance policies, provides protection for your guests, should they be injured in or around your home accidentally. Typically, policyholders with guest medical coverage can feel confident in their ability to help pay for reasonable and necessary medical expenses (up to policy limits) caused by accidents at your home that are not covered by liability protection.

Additionally, you’ll want to also become familiar with...

1. Deductibles

All Peril Deductible
  • Normally $1000. A higher deductible can yield a lower annual premium, but more out of pocket expense in a loss. A lower deductible will mean less out of pocket if you file a claim, but a higher rate on your homeowner’s policy.

2. Exclusions

Some companies exclude items that are normally included (i.e. Pool Cage/Screen Enclosure, mold coverage, rain driven rain coverage, etc.).

3. Home Insurance Hot Springs Discounts & Savings

  • Multi-Line (Home + Auto) – Save up to 25% on your Arkansas Home Insurance for having home and auto with the Alan Springer Agency.
  • Protective Devices – Save depending on the combination of installed protective devices such as Fire and Burglar alarms.
  • Renovated Home
  • 55 or older and retired

Condo Insurance

Arkansas Condo Insurance

In Arkansas, Condo insurance isn’t a luxury . . . it’s a necessity! While your Condo Association may cover the outside of your unit, if you don’t have your own insurance, you are at risk. Your condo association insurance doesn’t cover all property inside the walls (e.g., all floor, wall & window coverings; appliances & fixtures; air conditioning & heating equipment & water heaters; cabinets & countertops; personal property and all belongings).

Most Arkansas Condo Insurance Policies includes:

  • Unit Building Items floor, wall & window coverings, appliances, fixtures, cabinets, countertops, etc.
  • Personal Property your belongings such as furniture, clothing, electronics, etc.
  • Additional Living Expense normal expenses in the event you forced to leave your unit due to damage
  • Loss Assessment reimbursement for funds that your Condo association may require from you due to damage or loss
  • Liability Coverage protection in the event that someone gets hurt on your property and files a lawsuit against you

If you rent your unit to others . . .  Arkansas Condo Insurance should also provide Rental-property Protection:

  • Fair Rental Value coverage for the loss of rental income if your unit becomes damaged to the point it cannot be lived in
  • On Premises Liability protection against lawsuits if your tenant is negligent or in the event that someone is injured while on your property.

Landlords/Investment Property

Complete Investment Property Coverage

The Alan Springer Agency understands that many investors choose to buy real estate in Arkansas, and rent these properties to others as permanent residences or as long term rentals. We can help you by customizing a policy to match your investment property needs and the coverage limits that make sense for your particular requirements.

Our Arkansas Investment Property Insurance Coverage includes:

  • Dwelling (your home)
  • Contents (your personal belongings, yes, even in investment properties you will need to cover the appliances and any other personal belongings)
  • Other Structures (sheds, detached garages, etc.)
  • Loss of Rents (if you cannot rent your property due to a covered loss)
  • Personal Liability (for accident/injury or property damage to others)
  • Medical Payments (expenses for non-family members injured while visiting)

Flood Insurance

According to the Federal Emergency Management Association, flooding is the number ONE natural disaster in the United States. Floods and flash floods occur in every state in the US and with Florida being surrounded almost completely by water, a flood could happen at any time. A common misperception residents of Arkansas have is that they are not in a primary flood zone. Although, you are not in a primary flood zone, ALL of Arkansas is in a flood zone! No home in Arkansas is guaranteed safety from hours of rain. It is our job as your agent to make sure you are aware of the risks and hazards that can damage your home and/or belongings and to help you breathe easier when you see the waters rise.
What is considered a flood?

A flood is an excess of water on land that is normally dry. Here is the official definition provided by the National Flood Insurance Program: “A general and temporary condition of partial or complete inundation of two or more acres of normally dry land area or of two or more properties (at least one of which is your property) from:
  • Overflow of inland or tidal waters
  • Unusual and rapid accumulation or runoff of surface waters from any source
  • Mudflow (a river of liquid and flowing mud on the surfaces of normally dry land areas)
  • Collapse or subsidence of land along the shore of a lake or similar body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood as defined above.

Flood Facts

  • Just an inch of water can cause damage to your property.
  • Your Homeowner’s Insurance does NOT protect your property against a flood or rising waters
  • If you live in a low to moderate flood risk area, your premium could be as low as $206/year!
  • Approximately, 25% of all claims paid out are in a low to moderate risk area
  • Flooding causes more than $2 billion of property damage annually
General Guidance on Flood Insurance Coverage

Generally, physical damage to your building or personal property that is directly caused by a flood is covered by your flood insurance policy. As an example, damages caused by sewer backup are covered if the backup is a direct result of flooding. What is insured under Building Property Coverage?

  • The insured building and its foundation
  • The electrical and plumbing systems
  • Central air conditioning equipment, furnaces, and water heaters
  • Refrigerators, cooking stoves, and built-in appliances such as dishwashers
  • Permanently installed carpeting over an unfinished floor
  • Permanently installed paneling, wallboard, bookcases, and cabinets
  • Detached garages (up to 10% of the Building Coverage). Detached buildings other than garages require a separate building property policy.
  • Debris removal
What is insured under Personal Property Coverage?
  • Personal belonging such as clothing, furniture, and electronic equipment
  • Curtains
  • Portable and window air conditioners
  • Portable microwave ovens and portable dishwashers
  • Carpets not included in building coverage
  • Clothes washers and dryers
  • Food freezers and food in them
  • Certain valuable items such as original artwork and furs (up to $2,500).
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