|
|
Home Insurance
Homeowners insurance is normally split into two basic
categories, buildings and contents. Some people take the risk and
don’t take out any insurance against the contents of their home
but they probably have never worked out how much it would cost to
replace everything they own. Others don’t pay much attention to
the amount of liability cover that is included in their homeowners
insurance. For me this is a big risk. If someone has an accident
in your home they will be claiming against your homeowners insurance
and if you don’t have the cover they could then be looking to you
for compensation! The element of your homeowners insurance that
relates to the building covers you for the cost of rebuilding your
home and other buildings (that you own) in the immediate vicinity
of your home (such as garages and summer houses) in the event of
fire or other disasters. You need to make sure your insurance covers
you for the full cost of clearing the site and rebuilding your home.
Always check out the insurance policy small print to make sure you
are totally clear as to what your basic homeowners insurance doesn’t
cover which will generally include damage due to natural disasters
such as flooding or earthquakes. You can purchase flood insurance
separately, through your homeowner’s insurance provider, but the
policy will be with the Federal Flood Insurance Program. The contents
element of your homeowners insurance will cover you for everything
inside your home including carpets, curtains, clothes and furniture
(anything that isn’t classed as structural). Your homeowners insurance
will also usually cover you for lost or stolen cash and credit costs
and loss or damage to your personal belongings while off the premises.
It’s really easy to underestimate the amount of homeowners insurance
you require, for contents, so the best way is to do a full inventory
of everything you own.
Are you like me – do you love talking about insurance? Well,
who doesn’t really? So let’s talk home insurance, and
what you need to know when you get a home insurance quote.
Do you own a home? Do you plan to? You are not required
by law to have insurance on your dwelling, but if you carry a mortgage,
your lender will most likely require it. If you don’t have
or need a mortgage (please, please, tell me how you did that! I
am but a poor scribe), it remains a wise decision to protect your
investment with insurance. Gather up your information and get a
reliable home insurance quote.
How do I go about getting a home insurance quote?
For those of you who have read my other delightful
yet poignant insurance articles, you know that I always recommend
using a reputable insurance agent. No, that is not an oxymoron.
And no, I am not an insurance agent myself. When you need electrical
work, do you not call an electrician? Or plumbing work, a plumber?
When you want to know the ins and outs of riders, floaters, and
umbrellas, call a pro. Get a professional home insurance quote from
someone who can meet with you, and address your specific needs.
So once I find one of these “shady” insurance
agents, what should I tell him?
Now stop it! They’re not all shady. But here
are some issues that you might want to discuss with your agent as
he prepares your home insurance quote:
1. Coverage for the structure of your home
2. Coverage for your personal belongings
3. Liability protection
4. Additional living expenses in the event you are
temporarily unable to live in your home because of a fire or other
insured disaster (e.g. rivers of blood, plagues of frogs).
Most people are aware of the first issue – watching
the news, we see homes destroyed by things like hurricanes or earthquakes
and realize we need to insure the structure itself - but what about
the other three? If you live in a home, odds are pretty good that
you also own “stuff” that you keep inside your house.
This should be insured as well. Many companies will cover your personal
belongings for 50%-70% of the amount of your policy. This means
if you have $100,000 worth of insurance on the structure of your
home, you would have between $50,000 to $70,000 worth of coverage
for your belongings. If you have more expensive stuff, like a Renoir,
Monet, or Grandpa’s gold teeth, you may want to purchase a
floater to cover the difference.
What do I need liability protection for? Isn’t
this just another scam so my agent can produce a larger home insurance
quote, and get a bigger commission?
Well, it could appear thus, but remember - insurance
is protection against the unforeseen. Liability covers you against
lawsuits for bodily injury or property damage that you or family
members cause to other people (I didn’t mean to shoot Joey
with that BB gun, Dad), and the liability portion of your policy
pays for both the cost of defending you in court and any court awards
- up to the limit of your policy, of course. Your policy also provides
no-fault medical coverage. In the event a friend or neighbor is
injured in your home, he or she can simply submit medical bills
to your insurance company.
Okay, okay, and the additional living expenses?
Well, what if your house is gone? What if a twister
takes it to the Merry Old Land of Oz? Where are you going to live?
This part of your coverage pays the additional costs of living away
from home, if you can't live there due to damage from a fire, storm
or other insured disaster. It covers hotel bills, restaurant meals
and other living expenses incurred while your home is being rebuilt.
Although coverage can vary, and will depend upon the home insurance
quote you received, many policies provide coverage for about 20%
of the insurance on your house. You can increase this coverage,
as well, for an additional premium. Make sure your home insurance
quote details this for you.
Instant
Insurance Quotes, Online Insurance Quotes, Term Life, Term
Life Insurance claim, Term
Life Insurance Quote, Term Life Insurance Quotes, Term Life
Quote, Life Insurance, Life Insurance Quote, Life Insurance
Quotes, Return of Premium Term Life Insurance, ROP term life, pilot
insurance, life insurance for pilots, Auto
Insurance, Auto
Insurance Quote, Car Insurance, Car
Insurance Quote, Health
Insurance, Health
Insurance Quote, Long Term Care, Long Term Care Insurance,
Long Term Care Insurance Quote, Medicare, Medicare Insurance, Medicare
Insurance Quote, Medicare Supplement Insurance, Medicare
Supplement Insurance Quote, Medigap, Medigap Insurance, Medigap
Insurance Quote, Dental Insurance, Dental
Insurance Quote, Disability Insurance, Disability Insurance
Quote, Home Insurance, Home Insurance Quote, Homeowners Insurance,
Homeowners Insurance
Quote, Renters Insurance, Renters Insurance Quote, Condominium
Insurance,
Condominium Insurance Quote, Annuity, Annuity Quote, Travel
Insurance, Travel
Insurance Quote,
insurance, insurance quotes, insurance rates, automobile
insurance quotes, instant insurance quotes, auto insurance quotes,
car insurance quotes, term life, term life insurance quotes, return
of premium insurance, dental insurance, homeowners
insurance quotes, health
insurance, annuities, medicare supplement insurance quotes,
travel insurance quotes, renters insurance quotes,
medical insurance quotes, health
insurance quotes, disability
insurance
http://www.getmaxloan.com/business-insurance.html
quotes, long term care insurance,
|
