With a home insurance, you protect your building, other structures and some contents of your house. Do remember that, your home insurance will not cover every of your valuables and contents of your home. You will need a content insurance to cover the items, valuables and furnishings of your home.
Covering every item which are movable or immovable, starting from electronics to clothing, furniture to kitchen appliances, certainly which is not fixed to the structure of your house becomes necessary. Your building insurance does cover your building but the contents inside needs a content insurance to be covered when ever any damages, natural calamities or any such disaster occurs.
Make an inventory of all the valuables, furniture and other items in your dwelling. List out the cost of it when purchased and it’s current market value. Do not provide wrong estimates to your agents or the insurance company which can put you in high time risk. If possible also take a picture of it and keep a copy with you, having the originals deposited either in safety locker or any of your friends place who are trustworthy. When any destruction occurs and unfortunately causes loss of items or valuables, it is easy to claim with a valid proof and inventory. The claim happens quickly with an ease.
Analyze The Worth
If you find that you are being paid less when claimed, it might be purely your fault. Hence, make a proper evaluation of your property’s worth. Calculate their value based on current market value which replaces your lost item, not higher or lower than what you have exactly paid. Check with your agent as to what your content insurance is covering for you.
Though covering your valuables will increase your premium rates, but the risk of being under-insured or uninsured is high when loss happens. Insuring valuables definitely makes your insurer reluctant over your buy. Reading every detail carefully is very important before you sign on any bond and get clear as to what is covered and what not is covered ? Ensure to have an update on your policy, it’s terms and conditions, specially after buying a new item.