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Assessing Your Home Insurance Coverage: An Interview with Kristin Guglielmo of Penny Hanley & Howley Insurance

By Kristin Guglielmo

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

Penny Hanley & Howley Insurance is located in Stafford Springs, CT and is your local Connecticut and Mass agency providing you a variety of insurance needs from Auto, Home, Life, Small Business and Commercial. Providing over 30 carriers for your Insurance needs.

Penny Hanley and Howley Insurance agency has been in business in Connecticut since 1865 and family owned since 1968 by Tony Guglielmo and now his daughter Kristin Guglielmo. We are an independent insurance agency which means we provide our customers with a variety of choices for your insurance needs. We have a strong commitment to the community and we are actively involved in supporting our businesses and residents of our community. With 7 employees and 120 years of combined experience our knowledgeable staff is ready to help you.

What are some of the services your company provides?

We provide a variety of insurance needs from Auto, Home, recreational , personal umbrella , Life, Small Business and Commercial insurance . Providing over 30 carriers for your Insurance needs in Connecticut and Mass.

Please briefly explain the idea of home insurance to our readers, what it is, why it was created, etc.

Before the creation of the homeowner's policy, the owner of the dwelling had to buy property insurance on the building and contents, burglary Insurance and liability coverage. In other words, they had to purchase at least three separate policies to protect their home. After the homeowners contract was developed, many years ago, instead of having three separate policies they were rolled into a single policy and they called it the homeowner's policy.

Since it cost the insurer less to produce one policy rather than three policies, there is a discount applied to this type of contract. The homeowners policy is available to only owner occupied one family and two family dwellings.

What are the advantages of working with a local agent, rather than a popular online insurance source?

The advantage of working with an insurance agent rather than an online insurance company is that you have a person to talk with you . It is possible to have a question-and-answer discussion with a person that is knowledgeable in the area of insurance. In addition that person is an independent insurance agent that is not contractually tied to anyone company. They are able to choose from many different insurance companies and find the one that best meets the customer's needs.

What is the deductible and how does the insurer decide on the amount?

The deductible is the amount of money that the insured is going to pay if there is a claim. If the insured decides on a $1000 deductible for their homeowners when first taking out the policy, they are agreeing to retain responsibility for the first $1000 of a covered claim. Deciding on the amount of a deductible depends on what the insured can afford to retain in case of a covered claim. The higher the deducible you retain, the lower the annual premium.

Do most property protection policies include dwelling, other structures, and personal property?

Homeowner's policy will cover your dwelling, other structures and personal property up to the limit on the policy. Other property policies such as a dwelling fire policy which is for a rented dwelling will only cover the building and the other structures up to the limit of the policy; the personal property would be added by endorsement.

What does the personal liability part of my policy cover? Will the insurer pay for medical expenses as well?

The personal liability coverage protects your financial assets if an insured is legally liable for an accident, injury or property damage. You can choose your limit of personal liability on the homeowner's policy from $100,000 to $500,000. Sometimes higher depending on the carrier. The cost difference between the $100,000 and $500,000 is generally minimal so we always recommend the $500,000 to our clients.

Insurers will also pay medical expenses to people who are not members of your household who are injured. This coverage is not dependent on whether you are legally liable like the personal liability coverage. Generally the range for coverage is from $1000 to $5000 on a homeowner's policy.

Do you have any more tips for someone who is out their home insurance policy?

The best advice I can give anyone purchasing homeowners insurance is to contact an independent insurance agent. These agents have access to many different insurance companies and can provide competitive choices for their customers.

What's the best way for people to get in contact with you and your company?

People can contact Penny Hanley and Howley Insurance agency by phone at 860-684-2721, by email at kristin@pennyhanley.necoxmail.com, or by going to our web site at www.pennyhanleyhowley.com. They can also download our mobile app from the iTunes store or google play store, just search Phh Insurance or Penny Hanley.

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About The Author

Kristin is the second generation of the Guglielmo family active in the agency. She is...

Phone: 860-684-2721

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