When you find your dream home, you look around at the neighborhood to see what’s nearby. Maybe you’re after a great school, a nearby park or just a short drive to work. But in Billings, Montana, homeowners who live just north of Rimrock Road often have to consider some rather ominous neighbors above their homes — giant boulders along the city’s notable Rims.
In the past few months, there have been several large rockslides below the Rims, where large rocks and debris came down suddenly on homes and property. Luckily, no one was harmed in these rockslides, but it did send homeowners nearby scrambling to wonder how they could get insurance coverage, should a rockslide impact their homes.
In fact, such an event is rarely, if ever, covered by insurance — until now. With limited options for insuring major events that could damage a home, in the form of floods or earthquakes, homeowners impacted by landslides were out of luck.
This new endorsement, however, removes the exclusion for “earth movement” from your homeowner’s insurance policy — a unique option that could protect any homeowner, not just those who live below Billings’ Rims.
The new landslide insurance endorsement HR700 provides coverage with a 5% deductible for a dwelling and contents — and it won’t cost you an arm and a leg, either.
“It’s pretty inexpensive and affordable,” notes Troy Stowe, AINS, AAI, CPRIA, account executive private client group at PayneWest. “It also covers more than just landslide coverage. It includes limited water damage, sudden intrusion, and other coverages. You still have to pay your deductible, but it’s coverage that includes dwelling and contents.”
If you have already added flood coverage to your existing homeowner’s policy, you might also consider adding this new landslide coverage HR700 Endorsement as well. The benefit to homeowners is a provision that doesn’t require the minimum two acres of normally dry land to be inundated with water in order for coverage to be used.
Instead, with the landslide endorsement, even if water causes rocks to damage your home or property, but doesn’t meet the two acre requirement through flood insurance, you’d be able to use the landslide insurance to submit a claim.
If you’re shopping for coverage to protect your Billings home, you can look no further than our new landslide coverage offered exclusively through PayneWest Insurance, as an agent for The Cincinnati Insurance Company. This completely unique and rarely insured event offers peace of mind to Billings residents who live below the beautiful (but often unpredictable) Rimrocks.
Want to learn more? Call Troy Stowe in Billings at 406-238-1939 or call 406-238-1900 and ask for information on Billings-area landslide coverage, only available through PayneWest Insurance.