Optional Coverages Under Home Content Insurance

If you want an extra coverage for your house and its contents, the following policies will help you:

Personal article Floater

This is also called as the scheduled Personal property Endorsement. It provides coverage to items like Jewellery, coins, stamps, furs, guns and expensive antique items. There is no deductible here. The coverage is wider than the normal home insurance policy.

Guaranteed replacement Cost Coverage

This provides maximum coverage for your home. The insurance increases on a yearly, monthly or quarterly basis as the inflation rate increases. It is advised that you consult your insurance company for more details if you are planning to take this coverage.

Inflation Guard Endorsement

As inflation increases, the replacement value of your home also increases the coverage in such cases may not be adequate. The inflation Guard endorsement helps to change the limit of your policy automatically. You do not find many companies giving this policy.Hence, check with your insurance company if you want to avail this.

Water craft endorsement

This endorsement gives you liability coverage and medical coverage for motor boats and sail boats.

Money and securities

This policy gives you coverage for bank notes, currency, deeds and securities.

Secondary residence Premises Endorsement

This refers to coverage of your summer home.

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Flood insurance

The general home insurance policy does not provide coverage for damage of home and contents in case of floods. For more information you can contact the National Flood insurance program for details regarding the Federal Flood insurance.

Contents Inventory

It is advised that you take an inventory of all the items of your home. Make a detailed description of each item, take pictures or make a video shoot of them. This will make it easy if you have to make a claim in case of damage.

Tips To Prevent Damage

It is better to take the following precautions in order to avoid damage to your house and contents .The following tips to prevent damage are as follows:

• Check your entire house and even garage for faulty wiring regularly.
• Do not store trash in basement or heat generating areas.
• Do not smoke in your room and keep inflammable materials and matches out of reach of children.
• Use fire proof building material in your house construction.
• It is better to notify the police when you go on a vacation
• Also keep an emergency exit to your house.
• Install a burglar and fire alarm in your house.
• The washing machine hose should be replaced once in two years to prevent damage due to water seepage.
• Always keep an inventory of your house and its belongings.

The home and contents insurance is worth your investment. A policy bought today can save your home and valuable contents if any untoward incident occurs. Buy your policy today!

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