Author Archives: Amy Spencer

About Amy Spencer

Amy Spencer started her career in the insurance industry in March 2006 as a customer service representative for Insurance & Financial Services, Inc. She learned the business from the ground up and in September 2006 she decided to move forward with obtaining her Property & Casualty license. Amy has 11 years of experience starting in commercial truck and freight broker insurance. While she continues to serve her clients she also offers personal auto, home, renters, and small business insurance. Amy prides herself with customer service and making sure her clients have the coverage they need.

Amy was born and raised in Chesterfield County. In her free time, she enjoys spending time on the softball field watching and coaching her daughter as well as vacations at the family home at Lake Gaston, NC with her husband, Curtis, and their children Curtis Jr. (wife Breanda), Cameron, Ciara, Andrew, and Theresa.

Here are my most recent posts

Home Insurance Midlothian VA


Easy To Understand Homeowners Insurance

Home Insurance Midlothian VA | Insurance and Financial Services | IFS | (804) 739-9121

If you have been searching the internet for ” Home Insurance Midlothian VA ” your search is over!  Insurance & Financial Services understands the various needs of Virginia homeowners when purchasing and owning a home.  A home  is generally one of the largest investments of our lifetime. It provides stability and value to our lives.  It is important for homeowners to understand the various components of a homeowners insurance policy and our licensed agents are here to help!

Our Insurance & Financial Services agents conduct free reviews of homeowners’ insurance policies to determine if 1) the right protection is in place so not to lose stability of owning a home, 2) ensure the home is insured for the complete value and 3) create a custom homeowner insurance package that specifically protects the individual and/or family with dwelling, personal property, other structures, liability, medical, and specialized insurance coverages.

| Home Insurance Midlothian VA |

Most Chesterfield Virginia homeowners know that homeowners insurance covers the house they live in, maybe their shed and personal items. But how many of them actually know what their house is worth, if the personal items replaced with “actual cash value”, do they have a complete inventory of their personal belongings?

There are many items to consider, which is why it is important to consult with a licensed agent with Insurance & Financial Services.  Our licensed insurance agents will walk you through each step of buying homeowners insurance, so that you make the right decision for you and your family.


Definitions – Home Insurance Midlothian VA

Home Insurance Midlothian VA | Insurance and Financial Services | IFS | (804) 739-9121Dwelling
Dwelling coverage protects the physical structure of your home, all structures attached, such as an attached garage, building equipment, fixtures and outdoor equipment used for the service of and located on the dwelling premises.

Other Structures
This type of insurance can help protect the physical structure of buildings on your property that are separate from your home, such as a shed or a stand-alone garage.

Personal Property
Personal property coverage can help protect the contents inside your home.  The description of contents includes personal contents usual to the occupancy of the premises as a dwelling and belonging to the insured or members of the insured’s household.  Contents coverage includes coverage for furniture, clothing, electronics, TVs, etc.



Home Insurance Midlothian VA | Insurance and Financial Services | IFS | (804) 739-9121Loss of Use
Loss of Use protection applies when a damaged property is not fit to live in due to a covered loss.  Coverage includes any necessary increase in living expenses that may be incurred in order for the insured to take temporary residency during repairs.

Personal Liability
This coverage protects the homeowner if someone would file a lawsuit and sue the homeowner for damages after being injured on the insured’s property.  There is also Medical Payments to Others that can help cover the cost of medical expenses for a person who’s injured on your property.

| Home Insurance Midlothian VA |


Homeowners Insurance Deductibles

A deductible is the amount paid by a policyholder before any claim is paid by the insurance company. If the policy has a larger deductible, then the premium will be lower. A policy may have different deductibles based on what causes the damage. Some insurance companies sell homeowners insurance policies with percentage deductibles for wind and hail damage, and a flat dollar amount for theft and other damage.

Flat Dollar Deductibles – The insurance company subtracts this from the amount it will pay for a claim. So if a homeowner has $1,000 worth of damage and a $500 deductible, the insurance company pays $500 and you’re responsible for $500. If you have $500 in damage, your insurance company is not responsible for any portion of that claim.

Percentage Deductibles – Percentage deductibles are based on the home’s insured value.  So if a house is insured for $100,000 and has a 2 percent deductible, $2,000 will be subtracted from any claim the insurance company pays. Additionally, with a percentage deductible, as property value increases, the amount of the deductible will also increase.  *Remember there is a difference between market value (what your house might sell for) and insured value (the amount of insurance you’ve bought).

Insurance & Financial Services recommends contacting a licensed agent to get advice before filing a claim.   As homeowners consider their insurance options, it is important to carefully review and make sure they understand their deductibles for various types of damage and losses.

For more information, please enjoy the following video courtesy of  The Virginia Department of Insurance, Financial Institutions and Professional Registration (DIFP)



Home Insurance Midlothian VA – Replacement Cost Coverage

Home Insurance Midlothian VA | Insurance and Financial Services | IFS | (804) 739-9121Mortgage lenders will require homeowners to insure their home for at least the value of the money you borrowed. This means if you insured your home for the initial amount of the mortgage (let’s say $175,000) your insurance company will only pay up to this amount to have your home rebuilt. Needless to say, the rise in labor and material costs, coupled with changes to building codes, will certainly add to the overall cost of rebuilding; ultimately exceeding your initial insurance coverage amount and resulting in your home being underinsured. That is where a home replacement cost policy comes in.

Not all carriers offer the same, not all offer 150% extended replacement cost; and not all calculate the replacement cost the same. It varies based on how claims affect premiums are different among carriers.



Home Insurance Midlothian VA – Extended Replacement Cost Coverage

Home Insurance Midlothian VA | Insurance and Financial Services | IFS | (804) 739-9121Homeowners can purchase a higher level of protection from an extended home replacement cost policy. The extended home replacement cost option will pay a specified percentage over the limit to rebuild your home.

If building costs unexpectedly go up in your area, an extended home replacement cost policy may pay more than the limit of a policy.  Each carrier offers different benefits.

Home Insurance Midlothian VA – Guaranteed Replacement Cost

A guaranteed home replacement cost option pays whatever it costs to rebuild the home, no matter how much local construction costs have skyrocketed. Neither a guaranteed home replacement cost or extended home replacement cost policy will pay for a more valuable home than the one that was destroyed.  Replacements costs can range between 125%-150% or more.




Homeowners Insurance Discounts

There are many ways to save on home insurance in Virginia. There are a wide range of discounts to help lower home insurance premiums. Our licensed agents can help homeowners understand which Virginia home insurance discounts would best meet their situation.

Home Insurance Midlothian VA | Insurance and Financial Services | IFS | (804) 739-9121

Multi-policy discount
When you have two or more insurance policies, you can save big. Insuring your home and car together could help you save up to 30% with some carriers.

Paper Free Billing
Carriers also encourage consumers to save paper. They reward the “green” customers for their contribution.

Claim-free discount
Get discounts for not having claims for the past 5 years.

Advance Quote Discount
When you get a quote at least 8 days before you purchase the policy.

Home buyer Discount
Home Insurance Midlothian VA | Insurance and Financial Services | HIFS | (804) 739-9121If you are a homeowner, you could save up to 10%.  Recent home buyers may also qualify.

Safe home Discount
Insurance carriers reward homeowners who take the extra step to protect their home against fire and theft, like a home security system.

Home buyer Discount
If you purchase a newly constructed home, you could save up to 10%. Recent home buyers may also qualify.

Safe home Discount
Insurance carriers reward homeowners who take the extra step to protect their home against fire and theft, like a home security system.


*There are also home insurance discounts for smoke-free homes,
homes with storm shutters, homes with hail-resistant roofs and more.*



Homeowners Insurance Coverage Exceptions

Home Insurance Midlothian VA | Insurance and Financial Services | IFS | (804) 739-9121The right homeowners insurance coverage can bring peace of mind. However, there are a few things that do not fall under the standard policy, including Flood damage and Earthquake damage. There are separate policies to cover this type of damage.

Imagine your home is damaged by a vehicle crashing through the garage.  You call your insurance agent to report the claim, and then you are told, “I’m sorry that’s not covered by your policy.” It is devastating to learn that you pay for insurance but your damage is not covered.

The unfortunate truth is no insurance policy covers you for everything that could possibly happen to you or your property.  However, with a little bit of understanding, you can make sure you have the protection you need, and you can rest easy knowing your claims get paid by the insurance company.

Just because you have an insurance policy, it does not mean everything and everyone in your home is covered.  Your home insurance policy does not cover you against every “cause of loss”. Examples of “cause of loss” include fire, high wind, and other “perils”.

A standard home policy excludes many causes of loss.  That is, it does NOT protect you from certain perils – like earthquake, flood, termite damage and many more.  That means if your home is damaged by one of these excluded perils your policy will not pay and you have no insurance against them. 

 | Home Insurance Midlothian VA |

Home Insurance Midlothian VA – Options

There are literally dozens of optional coverages available in your home policy.  Here are some of the more common options available to you:

Home Insurance Midlothian VA | Insurance and Financial Services | IFS | (804) 739-9121

  • Equipment Breakdown – home insurance coverages can include your home equipment. This will help replace equipment damaged by a covered loss.
  • Identity Theft – many home insurers now offer protection for Identity Theft in their home policies to help pay expenses incurred to restore your identity if it’s stolen.
  • Water & Sewage Backup – the standard home policy excludes damage caused by a water or sewage system backup.  You can buy this protection if you want it.
  • Ordinance & Law – pays the increased costs of repairing or rebuilding your home that are required to be build in accordance to current building codes.
  • Packaged Endorsements – often times an insurance company will package the optional coverages people most commonly buy into a single endorsement for a lower price.



Be sure to discuss your Home Insurance policy exclusions with an Insurance & Financial Services agent.  

We’ll help you determine the best protection you need.  

(804) 739-9121

Our goal is to ensure you are properly protected!


Home Insurance Midlothian VA | Insurance and Financial Services | IFS | (804) 739-9121


Why Choose Insurance & Financial Services?

Located in Midlothian Virginia, we’ve proudly insured our neighbors with quality strategies for nearly three decades. Whether you’re in the market for an auto insurance policy for the family car, an individual health insurance plan because you’ve started your own freelance business, or you’re interested in a fixed annuity to help supplement your eventual retirement income, at Insurance and Financial Services, we have the resources to provide the solutions you seek.

Insurance and Financial Services is growing!   We are dedicated to strengthening our foundation as an insurance and financial services provider through continual growth and development. In 2017, we added joined the Smart Choice Agents Network to provide many new carriers and markets. This Smart Choice partnership has allowed us to broaden our service markets.

A few of the insurance companies we represent include: Aetna, American Modern, Anthem, Blue Cross Blue Shield, BTIS, Cigna, CNA, Dairyland, Foremost, Gainsco, Grange, Liberty Mutual, Mercury, National General, Progressive, Starr DoveTail, State Auto, Stillwater, Tapco, Travelers, and many more.


Areas Served

Insurance and Financial Services provides Midlothian Home Insurance to distinct communities within Chesterfield County Virginia including:

Bel Bridge, Bel Crest, Belmont, Bermuda Hundred, Bexley, Bon Air, Brandermill, Brandermill, Charter Colony, Chesdin Landing, Chester, Chesterfield, Collington, Colonial Heights, Courthouse, Deer Run, Enon, Ettrick, Fort Lee, Founders Bridge, Fox Creek, Genito, Gordon,  Hampton Farms, Harrowgate, Hening, Highlands, Hopewell, Jefferson Davis North, Magnolia Green, Manchester, Matoaca, Meadowbrook, Midlothian, Moseley,  Petersburg, Prince George, Reeds Landing, Richmond, Robious, Rockwood, Salisbury, South Rockwood, Spring Run, Summer Lake, Summerford, Winterpock, Woodlake, and Woodland Pond.

In addition to Chesterfield Virginia, Insurance & Financial Services provides Insurance Services & Insurance Products to residents and businesses in Amelia, Chester, Colonial Heights, Fort Lee, Prince George, Hanover, Henrico, Hopewell, Machanicsville, Manchester, Petersburg, Powhatan, Richmond,  and surrounding areas.


Glossary of Insurance Terms

Click here for the Glossary of Insurance Terms and Definitions that are commonly used in the insurance business.

The definitions in this glossary are developed by the NAIC Research and Actuarial Department staff based on various insurance references. These definitions represent a common or general use of the term. Some words and/or phrases may be defined differently by other entities, or used in a context such that the definition shown may not be applicable.

The National Association of Insurance Commissioners offers a complete Insurance Term Glossary for consumers.


Resources for Homeowner Insurance Midlothian VA

Provided By The Virginia Department of Insurance

Homeowners Insurance guide
Basic information needed when buying or using your homeowners coverage.
Homeowners policies
View policies from some of the state’s largest insurance companies.
Homeowners insurers by county
For your county, retrieve the list of active homeowners insurers and their contact numbers.
Companies offering earthquake insurance
Top 20 homeowners insurance companies writing policies for new customers.
Home inventory checklist
Creating a list of your possessions will help you file an insurance claim in case of theft, fire or other damage.
Frequently asked questions
FAQs about homeowners insurance.
Glossary of terms (categorized)
Frequently used terms about auto, homeowners, workers comp and other insurance.



Auto Insurance Chesterfield VA

Searching for “Auto Insurance Chesterfield VA?” Your Search is Over!   Insurance & Financial Services is not only an insurance agency, our licensed agents care about our clients’ well-being. We provide the tools and resources necessary for consumers to receive the proper Auto Insurance Chesterfield VA Education.  Helping you understand your policy is our duty as… Continue Reading