The Basics of Personal Property Insurance

You have secured your home and your car with insurance. So whenever a disaster strikes and cause damage to your car and home, you will not worry since you know you will receive compensation for the expenses.  But what about the valuables and other personal belongings in the house and car?  Do you need coverage for them?

To protect your personal property and valuables, you need to include these in the coverage under your homeowners insurance policy.  Belongings like appliances, clothing, furniture and all other properties not permanently attached to your house will be covered by this type of insurance.  Most insurance packages allows a maximum coverage of 40% of the total worth of your belongings.

There is a limit to this policy, however.  Valuables that are worth a great deal are insured up to ,000 only.  Items such as jewelry, expensive clothing, antiques, firearms, silverware and others are some of these valuables.  So if you believe that you have plenty of expensive and hard to replace possessions, you need to get extra personal property insurance.

The first thing that you need to do is take stock of all your possessions.  Do a complete and thorough inventory of everything that you have.  Make a complete list detailing the item description, costs, and other pertinent details.  Compute for the worth of each, and the cost of replacement.  Take into account that some items’ value appreciate over time, while some may lose their value.  Having the list on hand will make dealing with the personal property insurance company or agent easier.  Keep your list updated and complete.

Your possessions are your investments.  You would want to protect your investment.  It is therefore advised that you get personal property insurance to provide coverage for your valuables.  In case you get robbed, you know you will get replacement for your belonging, if not the actual thing, at least its monetary equivalent.

The best advice for getting cheap contents insurance is to shop around. When looking for full coverage dental plans, it is advisable to take time and compare the different rates offered by different companies.

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(Via ) As Keith notes, the Senators who hate the idea of a public option for health insurance sure didn’t have any problem voting for a public option to protect the profits of insurance companies against too many flood claims.
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