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YES! A Perpetual Homeowners Policy can duplicate the
coverage of your present policy. You may even find it is more
flexible in meeting your wants and needs since it has been specifically
tailor-made for you.
It means that there is no expiration
date. The policy you purchase remains in effect until it is
cancelled.
YES! All homeowners
policies are basically the same, and our Perpetual Homeowners
policy will be tailored to your specific needs.
Your initial payment purchases a specific amount of homeowners
coverage forever. You will never again have to pay for that
original amount of coverage you purchased.
This means that the money
you give us will be returned to you in full any time
you want it back. The benefit to you is a low effective cost
of Homeowners coverage.
If you need to increase the amount
of insurance you have, the additional payment is determined
using the same rate per thousand that was written in your policy
when it was first issued.
NO! There are
no time requirements. Just let us know in writing that you wish
to terminate your policy and we will do so immediately.
If you leave a surviving spouse
or there is another owner who is named on the policy and on
the deed to the house, the policy and its deposit will be transferred
to them when we received the appropriate documents. If you are
the last survivor and there are no other owners listed on the
policy, it will all be refunded to your estate. You can consider
this part of the inheritance you leave.
As the cost to rebuild your home increases, it is prudent
to increase the dwelling coverage. When you do this, there
is additional deposit due. This payment is computed using the
original rate per thousand, is added to your deposit on hand
and is also fully refundable.
Call us. Our adjuster will work with you to settle
the claim promptly and fairly.
YES! As we said earlier, there are no restrictions
on getting your money back, even if you have a claim.
To find out if the Perpetual Homeowners Policy is right
for you, the best course of action is to call our office with
your policy close at hand. Using your present policy as a guide,
we can work up a sample quotation and see what the deposit would
be. With that information in hand you can objectively evaluate
what advantages the perpetual concept offers you for your specific
situation.
The Baltimore Equitable Society is one of only a few
Perpetual companies in the country and although we have been
in business since 1794, we have only recently made a concerted
effort to expand our operations. Most of our customers hear
about us through referrals from other pleased customers.
Not any longer. However, there were such limitations
in the past. As a result of the Great Baltimore Fire of 1904,
the company did restrict itself to masonry homes. And because
of the incredible number of claims Baltimore Equitable incurred
as a result of that fire, only one home on a block was permitted
to be insured by our company. These restrictions were lifted
in the mid-1970’s. Prior to the late 1980’s a fire
hydrant within 1000 feet of the residence was required. This
restriction was also lifted.
I think you'll find that we are able to write just about anything
that any other homeowners insurance company presently does--only
at less cost and with better service.
We are currently writing Perpetual Homeowners Policies everywhere
in the States of Maryland and Pennsylvania -- not only in the
highly populated areas, but in the rural areas as well.
The Perpetual approach to insurance is available to not only
Homeowners, but also Condominium Owners and Apartment Dwellers.
No matter what type of residence you have, we can cover
you with a Perpetual Policy. As an example, suppose
your first residence was an apartment, then you moved to a home,
then to another home as your needs changed, then to a condominium
and finally back to an apartment; we could have provided Homeowner's
protection for you at all of those residences.
The savings with Perpetual Homeowner's policy will continue,
year after year after year, no matter where you live. It's an
investment for a lifetime.
Baltimore Equitable Insurance is a non-assessable mutual insurance
company. A mutual insurance company works for the best interests
of its policyholder/members.
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