(Tip: look
into "replacement cost" and an inflation rider to
ensure that your home and contents always qualify
for full replacement.)
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Many
people acquire homeowner's insurance because their
mortgage lender requires it. Nevertheless,
your home and its contents may represent your most
valuable family asset, and any damage could be financially
devastating. Insurance provides financial protection
for you and the mortgage lender as well as limiting
your financial risk from lawsuits of any visitor
who suffers an injury on your property.
Homeowner's
insurance typically covers:
- Your
home, garage and unattached structures such as
a tool shed.
- Personal
property damage to your home's contents including
clothes, furniture and appliances.
- "Loss
of Use" to reimburse you for temporary housing,
eating out and other living expenses while your
home is being repaired from damage covered by insurance.
- Liability
protection, both medical and personal, to protect
against accidents occurring on your property and
legal judgments.
Some
valuable personal items such as cash, jewelry, collectibles
and personal computers are not fully covered under
the base policy and require special "floaters" or "riders" that
provide additional coverage.
Did
you know that you can save money by comimagesing
your car
insurance and homeowner's insurance.
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