Home insurance is an important part of owning a home.
Home insurance is mandatory if you have a mortgage for your house, but many people don’t think twice about the policy that they select -until it’s too late.
Did you know that your home insurance policy doesn’t offer coverage for everything inside your home? While it may offer coverage up to a certain amount, if you own high-value items, your coverage may not be sufficient, and you may want to consider taking out additional coverage.
Expensive electronics such as computers, laptops, cameras, smartphones or tablets may be covered under your standard homeowner’s policy, but your deductible is probably set higher than the value of the item itself. If your homeowner’s insurance policy has a high deductible, you may want to consider taking out an additional policy that will cover your electronics in the event of theft, or damage. This will keep your premiums lower, while providing coverage for your expensive electronics.
The average bike probably won’t need additional coverage. But if you have a high-value bicycle, or a motorcycle or ATV, you may want to consider taking out additional coverage. Collisions coverage provides protection in case of an accident, while comprehensive coverage will provide coverage in case of damage that the bike or ATV sustains while it is parked, including theft or vandalism.
Jewelry and Furs
If you have expensive jewelry or furs in your house, you may also want to consider taking out a specialized insurance plan for these high-value items. Since most homeowners insurance policies cap out at a certain amount, your high-value items may not be covered completely.
Most insurance policies will offer coverage for these items, but the deductible may be higher than the item is worth, meaning that you will end up paying either way. To protect your items, and prevent excessive out-of-pocket expenses, consider taking out additional coverage.
For more information on personal property insurance or homeowners insurance, contact Houston-based Insurance Agency Texas today.