Planning For Your Future

What could be one of your most valuable and prized possession? Putting together hard work and dedication you establish this structure and with love and memories you make it what could be called your sweet home. But would it be good if you keep agonizing over the protection of your invaluable asset? Well, for your peace of mind, the best way out could be a home owner's Insurance.

Home owner's insurance protects your home as well as your family and your household possessions. It also mends the cost of damage or injuries caused to anyone or anything on your property. In case of condominiums or renter's insurance, the property is insured by the home owners association or the Landlord as case may be. However condominium/renter's coverage can protect the property and guard against lawsuits.

Homeowners insurance helps to put you back in the same position you were prior to the loss. However choosing the right coverage is important. Some of the facts to consider is knowing the replacement cost of the dwelling, the value of your personal property and proper protection of assets against any kind of lawsuits.

Insuring the Structure of Your Home

There are 3 ways to insure your home:

  1. Replacement Cost: A form of loss settlement that repairs or replaces damaged property without a reduction for depreciation but limited to the coverage amount.
  2. Extended Replacement Cost: This will pay a certain percentage over the cost of replacing without a reduction for depreciation.
  3. Actual Cash Value: It is equal to the replacement value of the damaged property less an allowance for depreciation.

To make sure you have adequate insurance protection you have to keep in mind the present cost of construction.

Protecting Yourself Against Lawsuits

The first thing to do is to look carefully at the amount of liability protection your home owner coverage provides. Home with unfenced pools, aggressive dogs, etc are generally uninsurable. Protection from perils such as fire, lightning, explosion, riots, etc are generally included. However, coverage for flood and earthquake are usually not included and can be purchased separately. In case of personal properties, motor vehicles, boats or large amounts of money and jewelry are also generally excluded.

We serve as the home owner's insurance company, which provide the best insurance quotes online.