Is your Personal Property Covered

17 May 2010, Comments: Comments Off on Is your Personal Property Covered

Temecula Home Insurance: Is your personal property covered?

Homeowner’s Insurance policies include automatic coverage for your personal property.  In order to determine if you have appropriate coverage for your contents, it is very important to take inventory and keep record of your items. There are several ways to do this such as taking photos or video recordings of each room in the home.  This will help in determining the value of your items, should a claim be filed.

The majority of Homeowners policies have limitations on personal items such as jewelry, watches, silverware and gold.  Scheduling your valuable property is the optimum way to protect the importance of your rare and expensive belongings. Some benefits include the following:

  • Speedy and painless claims settlement. An agreed value is preset for certain items, so you know in advance the maximum you’ll be paid in the event of a claim.
  • Theft and mysterious disappearance.
  • Blanket coverage. Blanket coverage can be applied to multiple items without requiring an appraisal.
  • Worldwide protection. When you are traveling your items will be protected anywhere in the world.
  • Newly acquired property. Automatically insures most newly purchased possessions up to 30 days of acquisition, subject to policy terms.
  • No deductible.

Replacement cost coverage is recommended in order to make certain that your insurance will pay a sufficient amount to replace items. Without this coverage, actual cash value will be paid based on depreciated value.    This may not be adequate amount to replace television with a new model with similar features as damaged one.

HWP Insurance can help you and discuss the appropriate coverage options for your valuable items and eliminate a gap that may occur in the event of a covered loss.

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