Guard Against the " I thought I was Covered!" blues :
No one ever expects it to happen to them. Yet each year roughly three million burglaries occur and an untold number of perils leave homeowners out in the cold or coping with a financial crisis.
What can you do to guard against the "I thought I was covered" blues? Review your homeowner�s policy annually to ensure your coverage reflects your needs. Unfortunately, many homeowners lack adequate insurance because lenders require homebuyers to carry only enough insurance to cover the lender's investment, the value of the mortgage. If a loss occurs, the lender's money is protected, but homeowners lose their personal property along with their equity.
Does your policy adequately protect your home and possessions? Homeowners insurance is designed to cover your financial losses from conditions or calamities that may damage your home or property. Depending on which policy you select, homeowners insurance may protect your house if damaged by fire, lightening, smoke, windstorms and hail, vandalism, theft, explosions, falling objects, aircraft, vehicles, riots and civil disturbances. Losses resulting from floods and earthquakes are excluded from standard policies. While policies vary by company and from state to state, a homeowner�s policy combines mandatory and optional coverages into a single package. Policies can be tailored to a homeowner's specific needs.
The basic homeowner�s policy contains six essential coverages: the Dwelling, Other Structures, Personal Property, Loss of Use, Personal Liability, and Medical Payments to Others. Article from : Homeowners Insurance
more from Dick Watts Insurance
No comments:
Post a Comment