Premier Choice Home

The "Coverage A" amount you select for your policy is usually the limit of payment you would receive to rebuild your house after a total loss.* However, that limit can quickly become obsolete, especially in times of high inflation.

To help counter rising costs, Premier Choice takes potential inflation into account and includes an Additional Rebuilding Expense Coverage provision. 

This is how it works. For example, a house that cost $350,000 to build a few years ago and is insured for that amount is destroyed by a fire. Today’s steep inflation would likely drive up the rebuilding cost to $475,000.

The Additional Rebuilding Expense Coverage provision would extend the Coverage A amount to meet the $125,000 difference.

If your home incurs extensive damage, such as from a house fire, a tornado, hurricane winds, etc., you’ll have to remove the destroyed structure and contents before you can repair or rebuild your home.

This can be very, very expensive, as an actual invoice for debris removal shows below.

Premier Choice will pay up to 10% of your policy’s Coverage A limit toward the cost of debris removal and cleanup. No claim payment deductible applies to this coverage.

It will also pay up to $500 to remove a tree that has fallen across a driveway or walkway or that otherwise blocks access to your property. It even pays up to $1,000 to remove multiple trees that have fallen and block access to your property

Standard homeowners insurance pays personal property claims based on the item’s age and condition – and usually only up to 50% of your policy’s Coverage A amount in total.

So even if a 15-year-old kitchen set you paid $1,500 for is in great shape, you’d likely only get a claim check for $1,050. And given inflation, it may cost a lot more than the $1,500 you originally paid to buy a new set.

Premier Choice provides much better coverage. It pays to replace your belongings with new items of like kind and quality – up to 75% of your policy’s coverage amount for your personal property (Coverage C) in total. So you’d be able to replace your kitchen set with a brand-new version.

Most homeowners policies don’t pay toward repair or cleanup expenses when water/sewer pipes back up into a home or when a sump pump fails and floods a basement. Premier Choice will pay up to $5,000

Three big wins for Premier Choice customers:

1. “Coverage E – Personal Liability” on a standard policy protects you only from claims/lawsuits related to physical injury or property damage. Premier Choice adds coverage for personal injury claims/lawsuits for accidental libel or slander (think social media!).


2. “Coverage F – Medical Payments to Others” on a standard policy pays toward medical costs that other people accidentally incur both on and off your residence premises because of your actions. Premier Choice includes $10,000 of coverage.


3. Coverage for volunteer “wrongful acts.” Believe it or not, you can be sued for actions you do while volunteering. For example, if you set up a sound system for a charitable event and an attendee trips over an extension cord and is injured, that person can sue you. This coverage provides up to $10,000 for damages for which you are found legally liable.)

Unless your home is only a few years old, the residential building requirements in your area have likely changed since its initial construction. If you must rebuild your home after a major loss or make substantial repairs to it, you’ll be responsible for ensuring the new construction meets code. That can add tens of thousands of dollars to rebuilding costs. Premier Choice will pay up to 20% of the policy’s Coverage A amount to help ensure you can meet the new rebuilding ordinance or law’s requirements.)

Premier Choice increases the maximum amount of coverage from $200 in a standard policy to $1,000 for loss by theft of money, bank notes, bullion, gold other than gold ware, silver other than silverware, platinum, coins and medals.

Premier Choice increases the coverage amount to $10,000 (from $500 in a standard policy) and adds coverage for losses arising from bank cards, home banking, forgery, and counterfeit money. No deductible applies to this coverage if you make a claim!)

Premier Choice raises the standard coverage amount from $3,000 to $10,000 for loss by theft. It also adds coverage for “mysterious disappearance” – such as if you take off a ring to wash your hands in a public restroom and accidentally leave it there. Plus, there’s no per-item coverage maximum!

Premier Choice increases a basic policy’s $2,500 coverage to $10,000 for loss of silverware, silver-plated ware, gold ware, gold-plated ware, pewter ware, platinum ware, and platinum-plated ware. This includes flatware, hollowware, tea sets, trays, and trophies made of or including silver, gold, or pewter.

It also adds coverage for “mysterious disappearance” – such as when a sterling silver serving spoon accidentally falls into the garbage during a holiday cleanup and is never seen again.

If you’re a DIYer, you may borrow the occasional power tool or other expensive item. What happens if you or someone in your household drops it and it’s damaged or destroyed? Premier Choice doubles the standard coverage from $1,000 to $2,000 so that you can reimburse your friend or neighbor – and help keep your relationship intact

Premier Choice raises the coverage for valuable documents (such as securities, accounts, deeds, passports, tickets, manuscripts, etc.) kept in your home from $1,500 in a standard policy to $5,000. It pays toward the cost to research, replace, or restore the information from the lost or damaged material

Premier Choice doubles the coverage amount from a standard policy’s $2,500 to $5,000 for loss by theft. It also adds coverage for “mysterious disappearance” – such as if your firearm goes missing from your checked luggage at an airport.

Ornamental trees and other plantings can be a significant investment. Magnolia saplings can cost $150 each, a flowering crabapple sapling about $120, and a single heritage rose plant as much as $36. Beautiful landscaping plants can be the target of theft and vandalism, so Premier Choice increases the coverage amount for trees, shrubs, and other plants from a standard policy’s 5% of the Coverage A amount to 10% of the amount. A $1,000 per-tree/shrub/plant maximum applies.

Premier Choice doubles the coverage amount of a standard policy and extends up to $3,000 in coverage to utility trailers and semi-trailers you own.

Small “incidental” businesses (usually run from home) are very popular but can be hard to insure. Premier Choice Home will extend coverage to businesses with an annual revenue of $5,000 or less.

Your data is your business’s lifeblood, so damage due to a covered cause of loss to your books of accounts, drawings, or other paper records and to your business computer and related equipment are covered up to $1,000.

Premier Choice covers several types of business property, both while it’s on and while it’s off your residence premises. Amounts vary:

• Up to $10,000 while it’s on the residence premises


• Up to $5,000 while it’s away from the residence premises


• Up to $3,000 for electronic apparatus/accessories (including antennas, tapes, wires, records, discs, or other media) in/upon a motor vehicle. The items must be powerable by a vehicle’s electrical system while still capable of being operated by other power sources

ID theft and fraud is a fact of life – 25% of Americans were affected in 2021. This coverage pays up to $25,000 for expenses associated with identity recovery and includes sophisticated restoration services at no charge. The coverage reimburses you for many of the associated expenses – such as wages lost while you work to resolve the issue. The identity restoration service guides you through the steps to identity recovery while doing much of the work on your behalf.

If the keys to your home are lost or stolen, Premier Choice will pay up to $500 for expenses you incur to replace the related locks. No deductible applies to this coverage!

Municipalities are increasingly likely to charge homeowners for police services when they respond to home burglar alarms or other theft deterrent devices. This coverage pays up to $50 per response and up to $250 per policy period. No deductible applies to this coverage.

If a fire department outside of your residence’s area responds to a call to save your property or prevent damage to it, Premier Choice will pay up to $1,000 for related service charges you incur. No deductible applies to this coverage!

HOA fees can include member charges (assessments) related to repair or replacement of damage done to common areas of the association. If your HOA assesses you a fee related to a loss, such as repairs for damage to a tennis court that was damaged when a tree fell on it, this coverage will pay for your portion, up to $25,000.

If your association’s master insurance policy covers a loss, you may be assessed (charged) a portion of the policy deductible. If that happens, this coverage will pay up to $5,000.

If your mobile phone, tablet, gaming device, or other electronic device or accessory (antennas, wires, discs, etc.) is stolen or damaged while in your vehicle, this coverage will pay up to $3,000 for replacement or repair

If your home or detached structures (e.g., garage, shed, workshop) sustain covered damages (such as from a fire or windstorm), this coverage would pay up to 10% of your policy’s Coverage A amount toward the necessary replacement, excavation, stabilization, filling, or restoration of the land so that the damaged structure can be repaired.

Valuable items you keep in a bank vault or safety deposit box for safekeeping are still subject to theft, fire, tornadoes, explosions, etc. Premier Choice will pay up to $50,000 for loss of those items.

 If your home is destroyed while you still have a mortgage, this coverage will pay toward reimbursing you for any increased monthly mortgage expenses, up to $250 per month. Plus, it will reimburse you for “mortgage acquisition costs” and any legal fees you incur as a direct result of building a new home at the same location.

Premier Choice covers the cost of replacing or re-creating personal data stored on a computer you own, or on its accessories, for up to $5,000 if the data is damaged or destroyed by a covered cause of loss.

Premier Choice will pay a reward of up to $5,000 to any person who provides information resulting in the arrest and conviction of any other person who committed arson at a location insured by the policy or who robbed, stole, or burglarized the covered property of any “insured.”

In addition, if a person assists in the successful recovery of stolen property that’s covered by the policy, Premier Choice will pay that person 10% of the actual cash value of the recovered property, up to a maximum of $5,000.

* The policy’s co-insurance clause requires the dwelling to be insured for at least 80% of the cost it would take to rebuild it in order for Additional Rebuilding Expense Coverage to apply.

Product, service, program, credit, and discount availability and limits vary by state. The information provided on this site is provided for informational purposes only and is not a full explanation of products, services, or coverage. Coverage limits apply to covered causes of loss. Policy provisions, exclusions, conditions, and terms apply. For more information, please contact Electric Insurance Company at 800.342.5342. If there are discrepancies between the information on this site and the policy, the terms in the policy apply.

Electric Insurance Company Risk Coach™ professionals help you assess your current coverages and exposure to risk based on the information you provide during your discussion. The services provided are for informational purposes only and do not create a professional or fiduciary relationship. Incomplete information or a change in your circumstances after your meeting may affect coverage requirements or recommendations.

If a type of loss covered by the policy (such as a fire or hurricane wind, damages your home so badly that you cannot live in it, Premier Choice will cover additional expenses – up to 50% of your policy’s Coverage C amount – that you incur as a result. Examples of covered expenses include:

• Hotel/motel expenses
• Expenses such as application fees that are related to renting living quarters
• Food/restaurant expenses if you must reside in a place without kitchen facilities. (Example: Your weekly grocery budget is $300 – about $42/day. Your policy would pay meal costs over that amount.)
• Additional miles you must drive to reach work, school, etc. as a result of being out of your home
• Boarding pets if your temporary housing will not allow pets
• Additional utility expenses such as electricity, landline, heat, cable, trash removal, etc.