 Homeowner Insurance Homeowners insurance is a "must"... sometimes viewed as a "necessary evil". Making the right decision and ensuring the best coverage are important matters, something that cannot be done without professional assistance. Here are a few tips to get you on your way. Shop for the agent first. Select an agent who win spend time reviewing your individual needs to ensure that the coverage you purchase will be designed especially for you. Second, ask questions and share information about your hobbies, employment, lifestyle, travel plans, etc. While the primary reason for a homeowner policy is to insure the dwelling, special endorsements covering computers, cameras, collectibles or other special interest items may be needed protect your property. Traveling abroad may require special coverage enhancements as well as a home based business will require special coverage. Third, make sure that you value your property using replacement cost numbers. A common mistake on many policies is to undervalue the reconstruction costs of the dwelling or the amount needed to purchase your personal property as new. Have the property inspected by the agent and ask for an estimate of its value using replacement cost figures. Most agents can calculate this number using computerized estimating software. Finally, make sure you document your personal property using either itemized lists, photographs or video tape. Even the best designed policy with accurate limits of coverage is only as good as the list that can be provided to the insurance company following a claim. Studies
have shown that we can only remember approximately 30% of the
contents in our homes, validating the need for additional
documentation. Make sure that the fists, photos or video tapes
are stored away from your home to prevent them from being destroyed
along with the property.
Perk
Reichley, CIC is Vice President of Reichley Insurance Agency,
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