by: Christine Zafra
If you already have an insurance or planning to get one, make sure you maintain your communication with your agent. Agents and/or brokers are useful when it comes to clearing up things. If your home have been damage due to a natural disaster, you can call your agent to find out if that damage will be covered by your insurance provider. Knowing things will also help you guard your house well (i.e. if the insurance company does not cover mudslide, you might want to build a sturdy wall at your backyard, between the muddy hill and your house). Keeping in contact with your insurance agent can also aid you in changing your policy from time to time depending on your needs.
Photo taken from http://www.lifeleadsystems.com
by: Christine Zafra
If you have a HO-3 or a HO-5 type of policy and you read or your agent told you that it is an “all risk” type of policy, behold—do not celebrate yet. You have to know whether what “all risks” covers. There are certain types of damages that are not covered by your insurance company such as mudslide, earthquakes and sometimes, flood. Before engaging with a certain insurance company you have to read the terms and conditions, or perhaps, the limitations of your insurance so that you’ll know whether damages incurred by some rather unconventional disasters are covered by your policy.
Photo taken from http://images.jupiterimages.com
by: Christine Zafra
Insurance companies offer clients and future clients a lot of options to choose from. They offer flexibility in terms of what insurance type they need, how much they can afford and so on. Here are the most common insurance types offered by today’s insurers:
1. HO-1: covers objects specifically mentioned under the policy (i.e. paintings and valuables).
2. HO-2: covers areas of the house and the things inside it (i.e. kitchen and the china cabinet that contains silverware).
3. HO-3: covers the whole house and the things inside but the liability is limited (i.e. fire, flood and earthquake ONLY).
4. HO-4: covers the apartments of the renters (i.e. any damage or injury within 150 feet).
5. HO-5: similar to HO-3 but the range of damage included is wider (i.e. riots, fallen objects etc.).
6. HO-6: similar to HO-4 but this policy is for condominium residents.
7. HO-7: policy for mobile home owners.
8. HO-8: covers old houses and the replacement costs that the owner will incur.
Photo taken from http://www.stoel.com
by: Christine Zafra
Take a look at your insurance policy. Your policy may seem to be easy to understand after you have glanced at it, but to tell you honestly, insurance policies are a lot trickier than you think. Take this for example.
If your policy includes flood insurance in it, do not rejoice yet. Some insurance companies are wiser than you think. If your house has been damage by mudslide due to the heavy rains that has been pouring for three days in a row, your insurance company might not consider it as something caused by “flood” per se. Most insurance companies consider that as the movement of tectonic plates and not flood related. Be wiser than them. Ask your insurance agent about things.
Photo taken from http://res.sys-con.com
www.mobile-home.us
Mobile home insurance is very similar to a regular homeowner’s insurance, but it is specifically written to meet the needs of mobile home owners. The policy covers the mobile home as well as its contents. It also offers a personal liability protection. It comes with a range of benefits – like for example, a free continental travel cover included in the policy gives peace of mind to a family traveling on the continent.
Significant depreciation can be a major concern for the owners of a mobile home, and so mobile home insurance is oftentimes provided on an actual cash value basis. Its coverage usually extends to the accessories and equipment that were originally built into the mobile home structure.
www.hfca.com.au
Looking for the best home insurance coverage is very easy nowadays. If you do not personally know anybody who is a home insurance agent, then you can search online since most of the insurers now own a website. It will not take you long to visit a certain number of sites and obtain several quotes by answering a few questions.
Comparing these quotes either online or offline is good so that you can see the premium charged by several companies. It is not always the best option to get the cheapest quote that you can find. You also have to check out the history, track record, and service standards of the insurance company before you choose to get a policy from them.
www.clipartguide.com
There are many insurance policies that limit the amount that you can recover for a single item. You may fall short when covering expensive items like game systems, mobile phones, high end computers, home entertainment systems or high definition TV. Maybe you need to take out an additional insurance coverage for your artworks, collections, or hi-tech items.
In a lot of cases, you may even save more money by buying an insurance coverage for specific items like game systems or mobile telephones. Although of course you should always compare this with the cost of buying an extended coverage with your existing insurer. If you talk to an insurance agent, he or she may know of specific policies that can offer unlimited cover.
www.axa.com.sg
In order for you to ensure that your home and its contents are protected adequately against loss, regularly review your possessions. Take a walk around your house and write down everything that is there. And then, check out current values and prices of all of the things that you would want to replace in case of fire, theft, or other loss. You have to re-evaluate at least once every year, preferably before the time comes for you to renew your insurance policy.
Now you know how much your belongings are worth, and you can compare it to your current insurance coverage if it matches the actual risk of your loss.
www.promiseinsurance.com
Most of us are sleeping on a goldmine in our house. The kids have computers and high-definition TVs. But those homeowners who are in their fifties and sixties are also at a great risk. This is because they have made their houses comfortable for them to live in, plus the fact that they have probably accumulated a lifetime of fortune during their working years. For example, they might have no idea that the piece of artwork that they bought ten years ago might now be worth more than what they have paid for it. It is important to ensure adequate insurance cover for these things.
www.mshl.net
Could you replace everything in your house if it burned down tomorrow? Before you could answer, why don’t you look around your possessions right now and start to add how much will it all cost – everything from your furniture, computer, clothing, gadgets, etc.
The most bothering fact is that all of us are seriously underinsured most especially when it comes to contents. Maybe you have no contents cover or maybe you have included only your furniture in your policy. According to a lot of surveys, most fire claims are usually from the loss of possessions rather than on the house structure itself.