Last month I’d written a blog that helped answer a few of the most commonly asked questions on home insurance. However, what I’d written last month was only a small sample of the bevy of questions asked by countless prospective homeowners. In an effort to provide as much insight and assistance to my loyal readers as possible, I’ve decided to add a few more of the most commonly asked questions about home insurance.
General vs. professional liability insurance
This is a rather particular question, but it is asked frequently. For those of you that run a business from your home, you may want to consider both general and professional insurance. General insurance will cover the usual insurance situations, such as property damage or any incidents that occur to employees while on the job; liability insurance, on the other hand, will cover you from any outside claims in regards to any professional services that you may offer. This is a great way to cover yourself from all aspects.
Are my valuables (jewelry, etc.) covered by my homeowners insurance?
This is a fantastic question that doesn’t really have a concrete, one-size-fits-all answer. While many insurance policies do offer some sort of coverage in the event that valuables are stolen or lost, not all policies have this feature; in fact, some policies don’t even cover items like jewelry. That is why it is imperative that you comb over your individual policy to ensure that you are covered. If not, you may want to consider adding additional personal valuable coverage, depending on your particular provider.
Should I create a home inventory?
Absolutely. Although it may be a bit of a chore to go through each and every item you have in your house, you will be thankful you did so in the event of a disaster. With a home inventory, you will be able to easily access what you lost and how much it was worth. This works wonders when attempting to file a claim.
Homeowners insurance is an important part of life. It can protect you from a variety of disasters, and it is important that you ask the right questions, but more importantly, that you get the right answers.