Home Insurance–A Necessity to Safety

March 25, 2009 by  
Filed under Home Insurance

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So you finally decided to get a new house for your family. The neighborhood is perfect and the ambience is just right. The finishes are just perfect and the garage accommodates your family car with ease. This just makes everything perfect – as it’s supposed to be. However, there are still quite a few things you should consider before moving into your new home. One factor to be looked into is safety and security. And with this comes home insurance.

Home insurance, typically, is the insurance that covers our own private home. It is undeniable that accidents of differnt types can happen at any time. And unfortunately, this could also happen to your home. Fire and other destructive forces and accidents may find their way into your own home.

This is where home insurance will greatly help. A home insurance covers losses which occur in one’s own home including loss of its contents, loss of its use, and sometimes loss of personal properties or possessions of the home owner.

Home insurance rates differ based on the quotation of the company and on the additional preferences. The cost of a home insurance would entirely depend on the cost of the replacement of the dwelling.

A home insurance is a contract which states what things are to be paid and not to be paid by the home insurance company in the event of damage to the home. Unfortunately, floods and earthquakes are not included in a standard home insurance policy. These things are categorized into a more specialized type of insurance.

Sometimes, the cost of the insurance will come in cheaper if the home is in low risk state. Provisions of fire safety equipments and sprinkler system will help in reducing the home owner insurance cost.

Home Insurance is typically set into different classes. HO-3 Special is the most common while HO-5 is the more expensive option. Both of these are known to cover all forms of perils except for some which are specifically noted or excluded. HO-2 Broad is only limited to some perils. While HO-1 and HO-8 are most basic and limited forms of home insurance. Within the specified insurance policy, there are different classifications of coverage. Coverage A covers the dwelling itself and constitutes to only 80% of the actual value. Coverage B covers certain structures surrounding the dwelling and is limited to only 10% of Coverage A. Coverage C assumes for personal belongings and D covers the costs for additional living expenses.

Basically, home insurance has become a necessity for our daily living. To give us security from harm and other risks, it would indeed be wise to get a home insurance policy. We’re not only paying for the safety but also for our own peace of mind.

Renters Insurance–Keeping your Apartment Protected

March 25, 2009 by  
Filed under Home Insurance

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So, you’ve been living in an apartment. Renting an appartment could prove to be very beneficial and is just right for your budget. But besides that, there are still a lot of things you would definitely consider while you’re at it.

Like living in a house, living in an apartment could also put you at risk for some accidents. No one is safe from random events or accidents which might occur in your own apartment. That is why it is also important to consider getting renters insurance.

What is renters insurance and why do we need it? One of the things that we usually don’t mind is that our landlord is not responsible for certain things which may happen inside your apartment. Most people might find it negligible – but the landlord’s insurance policy doesn’t cover your belongings as a renter. That basically means that he won’t replace anything you lose by accident inside your apartment. Renters insurance is an insurance policy which covers the personal belongings of the renter and the apartment you are renting, as a whole.

Renters insurance, otherwise known as apartment renters insurance, covers quite a lot of things for the renter. There are a lot of positives about renters insurance, which could prove to be very advantageous to you as a renter. Usually, this policy covers the protection of your personal property in the apartment. Any loss or damage in your personal belongings is subject to the renters insurance. This includes your computers, furniture, television, jewelry and even your very own iPod.

Protection of family liability is also covered in this policy. Guest medical protection is also provided in the renters insurance policy. This means that if someone clumsy trips and injures himself while in your apartment, all his medical charges will be covered by your insurance. Renters insurance coverage also includes additional living expenses. This means that you are entitled to some reimbursement for costs of food, rental income and temporary housing while you’re in the state of reconstruction.

There are a lot of renters insurance companies out there which offer basic coverage and policies for the renter. Renters insurance is indeed very useful for everyone. It protects you from theft, fire, or any accidents which may happen to you, your guests and your personal belongings inside your apartment.