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An Overview of Home Insurance: An Interview with Pat Mangan of George Mangan Insurance

By Pat Mangan

Tell us a little bit about your company and its foundation.

George Mangan Insurance business was established as the G.S. Scott and Son Agency in 1894. My father George Mangan began working for the Scott family in 1948, he became manager and co-owner in the early 50's and eventually purchased the agency in 1958. In 1977 my father made the decision to change the name to George Mangan Insurance. In 2014 we are proud to celebrate our 120th year of serving the insurance needs for our clients throughout Marion County.

In general, what is homeowner's insurance supposed to provide for homeowner?

The standard homeowner's insurance policy is designed to protect the owners home, personal property within the home and any unattached structures on the property. It also provides liability and medical payments protection should a guest be injured on the property.

What are a few of the different types of policies available? Are these policies mostly based on income level?

There are several options available for people who own and live in a free standing home. Depending on the situation we normally suggest an HO-3 form which offers broad coverage for the owner. There are also homeowner policies available for condo unit owners and for people renting a home or apartment long term. All homeowner policies are based on the cost to replace the home and the personal property within it. Policies do not vary by income level.

Do most insurance companies require home inspections? What different types of home inspections are there?

Home inspections are usually required for older homes, on average those that are over 30 years old. The required inspection age limit does vary among insurance companies. A standard 4-point inspection is generally accepted by all companies for older homes. This report gives the company proof that the homes roof, electrical wiring, plumbing, and heating/air-conditioning units have been updated.

What are some factors that influence the rate on my home insurance policy?

Several different factors go into establishing a rate for your home insurance. Among the most common are type of construction, age, distance to the closest fire station and fire hydrant, monitored alarm system and prior losses.

What are my options if I want to cancel my home insurance policy?

If you pay the annual premium and then choose to cancel your home insurance policy before the end of its term, your company will charge a pro-rated premium based on the number of days the policy was in effect and refund the difference. If you choose to cancel the policy at the end of it's annual term there will be no additional premium obligation. A release form signed by the owner is required in either event.

What are some common claim concerns that may arise with my policy?

In Florida, hurricanes and windstorms are always a cause of concern regarding your home. In recent years claims related to sinkhole loss have been on the rise. Water damage within the home and theft of personal property are other common claims that we see quite often.

What is the best way for people to get in contact with you or your company?

Our office is open 9:00AM to 5:00PM Monday through Friday. We enjoy meeting with customers in person but if that's not possible we are always available by phone or email. More information about our agency can be found on our website at www.manganinsurance.com.

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About The Author

Pat joined the company in 1977 and is a Licensed Property & Casualty and Life and...

Phone: 866-842-8750

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