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Home Contents Insurance: Do You Need Additional Coverage?

November 25th | 1 Comment | Posted in Articles, Home insurance

Do you know the importance of having a well covered home insurance? Indeed, one of the bills which many home owners receive every month is the home insurance premium. Many might find paying the premiums annoying but one should not set aside the importance of home insurance to the security of their homes.

Home insurance is a blanket of security which provides you aid in case of risks and losses which might happen to your home. We are never assured that our homes will always be spared from accidents and calamities like fire, flood, earthquake, and theft. Any financial responsibilities which may arise because of these unforeseen events are covered by home insurance. Any financial loss would be too much for a home owner to bear if his home is not covered by home insurance.

The standard home insurance policy basically covers the cost to repair or replace structures of your home which have been damage or destroyed. Your home insurance policy may also pay for the complete replacement of your home in case of total damage. Moreover, basic home insurance policy may also cover the possessions you have inside your house. This will ensure that valuable personal properties will be accounted for and paid in case of damage or lost. Home owners insurance may also include liability coverage. This covers any medical expenses in case of injuries within your home.

However, the basic home owners insurance may not provide adequate coverage for all the valuable things you have within your home. If you experience complete home damage, not everything inside your home is covered meaning you may have to replace all these using money from your own pocket. Therefore, an additional coverage like the home contents insurance is a must if you own a lot of valuables inside your home which is often not covered with standard home owners insurance.

You probably have accumulated a lot of personal belonging in your home after years of living there. Although, home contents insurance is not a legal requirement by government regulations, it is however, an important consideration when it comes to providing your home total protection. You may already have spent considerable amount of money for different furniture and appliance in your home. You may also own expensive gadgets and entertainment units which might be too costly for you to replace in case of total loss or damage. The basic home insurance policy may only pay for a small amount of coverage which may not be sufficient enough to cover all the expensive belongings you have acquired through the years.

Separate home contents insurance is your assurance that anything within your home is covered and you don’t have to suffer from financial loss and difficulty in restoring back all your expensive belongings in case of fire, flood, or theft.

If you are not sure that you need an additional coverage, try to list all the contents inside your home. Beginning from the smallest thing to the most expensive painting, jewelries, or what have you. Add up the cost of all these and check if the home insurance coverage is sufficient enough to pay for all of these. Otherwise home content insurance is in order. You can also include items which you often use or bring outside your home including such items as video recorders, expensive DLSR camera, and jewelries among others.

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One Response to “Home Contents Insurance: Do You Need Additional Coverage?”

  1. Marina Says:

    Many Blue Cross companies now allow a dependent child to remain on the parents policy to the age of 30, and they do not need to be a full-time student. Check with your local Blue Cross Blue Shield in the state you reside.This policy was introduced about one year ago, to address the problem of the uninsured, 30% of which are in this age bracket.

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