© Copyright Arilington Home Insurance 2013

The Importance of Having

Homeowners Insurance

There are some people who don’t have homeowners insurance or they don’t have enough coverage. Even though you think you may not need it because you haven’t so far, it doesn’t mean that disaster won’t strike.  It can strike when you least expect it. There are always new stories about natural disasters such as floods, hurricanes or earthquakes hitting areas unexpectedly.  This is why you need to be prepared and have coverage for the worst circumstances. Even rentals are subject to this, but the type of coverage you need varies with assets you own. When you rent, you need to ensure the contents are covered, whereas with an owned property, you need to cover everything such as the home itself and the contents. What Home Insurance Covers The home you live in is covered including other buildings that may be on your property.  If you have a shed, detached garage, a carport, greenhouses and other structures, they’re all covered in your homeowners insurance premium. Some policies may also cover your fence but just like with other insurance, there are limitations you need to be aware of. Anything that cannot be moved is eligible for coverage in your insurance policy. You must have an accurate amount for your home and your precious belongings in your home so this can be given to the insurance company you are requesting a quote from.  It is important to have an accurate home value so that claims can be processed based on this figure. You will need a coverage amount that will allow you to rebuild if necessary from the bottom up in case of destruction. The insurance company will not pay the amount your home can be sold for. The reason for this is that the land still stands since this was not destroyed. Only the building costs will be covered and paid. Keep in mind this will only happen if you had purchased the coverage for this.  If you don’t have enough insurance to cover it, you’re out of a home, or at least part of it. The balance will have to be covered by you. Insurance for Contents Most insurance policies will cover the contents since both the house and contents go together. You’ve already spent a lot of time and money on the decorations to make it home. This includes furniture and important appliances. Replacing these items will cost you again, and with prices for everything increasing, you need to cover them. In Summary You’re always going to need homeowners insurance as long as you live in your home, whether you file claims or not.  You never know or have control over when circumstances occur that are out of your control. Be safe and get coverage from the unknown so you’re protected.

Insurance News

Why home insurance is a

good idea

It’s pretty obvious that purchasing home insurance is a good idea. Here’s why … Deciding to buy a home is a big, albeit exciting, step to take, with a number of factors to be considered. One of the most important is home insurance and considering the investment made on the property purchase, buyers need to ensure home and contents are sufficiently covered in order to avoid costly surprises in the event of loss or damage. Johan van Greuning, head of Standard Insurance Limited at Standard Bank explains home insurance covers the structure of the home, as well as any outbuildings on the property; household contents insurance covers more personal items. Both will cover the property where damage is caused by fire, lightning, explosions, storm conditions or earthquakes and will also protect a property against damage caused by, for example, burst pipes. However, unlike home insurance, Van Greuning says household contents insurance is not compulsory. “In the event of a man-made or natural disaster, burglary, vandalism or malicious damage, the cost of the damaged or stolen items adds up quickly and it can be unaffordable for most people. Household contents insurance covers the cost of all personal possessions, carpets, furniture, electronics and so forth and having a good insurance plan in place can help you get straight back to where you left off, in a material sense.
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© Copyright Arilington Home Insurance 2013

The Importance of

Having

Homeowners

Insurance

There are some people who don’t have homeowners insurance or they don’t have enough coverage. Even though you think you may not need it because you haven’t so far, it doesn’t mean that disaster won’t strike.  It can strike when you least expect it. There are always new stories about natural disasters such as floods, hurricanes or earthquakes hitting areas unexpectedly.  This is why you need to be prepared and have coverage for the worst circumstances. Even rentals are subject to this, but the type of coverage you need varies with assets you own. When you rent, you need to ensure the contents are covered, whereas with an owned property, you need to cover everything such as the home itself and the contents. What Home Insurance Covers The home you live in is covered including other buildings that may be on your property.  If you have a shed, detached garage, a carport, greenhouses and other structures, they’re all covered in your homeowners insurance premium. Some policies may also cover your fence but just like with other insurance, there are limitations you need to be aware of. Anything that cannot be moved is eligible for coverage in your insurance policy. You must have an accurate amount for your home and your precious belongings in your home so this can be given to the insurance company you are requesting a quote from.  It is important to have an accurate home value so that claims can be processed based on this figure. You will need a coverage amount that will allow you to rebuild if necessary from the bottom up in case of destruction. The insurance company will not pay the amount your home can be sold for. The reason for this is that the land still stands since this was not destroyed. Only the building costs will be covered and paid. Keep in mind this will only happen if you had purchased the coverage for this.  If you don’t have enough insurance to cover it, you’re out of a home, or at least part of it. The balance will have to be covered by you. Insurance for Contents Most insurance policies will cover the contents since both the house and contents go together. You’ve already spent a lot of time and money on the decorations to make it home. This includes furniture and important appliances. Replacing these items will cost you again, and with prices for everything increasing, you need to cover them. In Summary You’re always going to need homeowners insurance as long as you live in your home, whether you file claims or not.  You never know or have control over when circumstances occur that are out of your control. Be safe and get coverage from the unknown so you’re protected.
Arlington Home Insurance