Home Insurance is something most people
don't consider until they need it.
However, understanding what is and isn’t covered in your homeowner's insurance policy can mean the difference of being able to rebuild your home and replace your personal belongings. Homeowners need to do
an annual insurance policy review to make sure they keep up with local building costs, home remodeling and inventories of their personal belongings.
The typical homeowner's insurance policy covers damage resulting from fire, windstorm, hail, water damage (excluding flooding), riots and explosion as well as other causes of loss, such as theft and the extra cost of living elsewhere which the structure is being repaired or rebuilt. Although your homeowner's policy will cover some personal property
losses, you may be required to insure valuables such as antiques, jewelry,
furs, works of art, silverware, and camera equipment separately under
special riders to your policy.
Having an up-to-date home
inventory will ensure faster and more accurate claim settlements, verify
losses for income tax returns and details personal property for the correct
amount of insurance coverage. A Professional Home Inventory Service
documents your personal property and provides a resource for you to
determine with your Agent how much insurance to carry, whether you should
insure for actual cost or replacement cost, and whether you should have
additional riders to cover your valuables.
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