Dog owners may be forced to pay for insurance to cover damage or injuries their pet causes, ministers will propose today
Category: Insurance
Should you get mobile phone insurance? We investigate the options and speak to some This is Money readers about what they do
Should you get mobile phone insurance? We investigate the options and speak to some This is Money readers about what they do
Booming household wealth and different lifestyles mean that finding the right home insurance isn’t as straightforward as it used to be
Booming household wealth and different lifestyles mean that finding the right home insurance isn’t as straightforward as it used to be
Personal property can be described as the contents in a home or business. This coverage is very affordable for renters, and should be purchased without exception. For homeowners, it is part of your homeowners policy, with specific coverage amounts determined and stated under the personal property category.
The easiest way to visualize it is to think of taking the roof off and turning the building upside down. Everything that falls out is personal property. Therefore, built-in cabinets, appliances, desks and bookshelves are not personal property. Carpet, wood and tile flooring, window treatments and light fixtures are not personal property. These are items that are considered part of the structure and are not considered when determining the dollar amount you need to insure your personal property.
Another way to describe personal property is what you’d take with you if you move. Whether you are a renter, homeowner or business owner, it is very important to be aware of the limits of your personal property insurance coverage.
There are specific limits to your insurance policy regarding assets in your home or business. You should be aware of these limits and discuss your specific needs with a qualified insurance agent. Every insurance company designates their limits for specific items. Here are a few items, with common limit amounts:
- Jewelry: $1000-$3000
- Guns: $1000-$3000
- Silverware: $1000-$3000
- Business Personal Property: $1000-$2500
- Sports/Stamp Collections: $1000-$2500
- Money: $200-$500
These numbers are not per piece, but the full amount allowed. So, if you have a diamond engagement ring that is valued at $3000, and that’s the limit on your policy, you will have maxed out your entire coverage for all jewelry with just that one ring. If your policy has a $1000 limit, based on the example of a $3000 ring, you’ll only receive $1000 toward a replacement. Take a look at your jewelry armoire or jewelry box. How many pair of earrings do you have that are considered costume jewelry? You can easily exceed $1000 with 5 pieces of jewelry from Sears!
Original, irreplaceable fine art and collectables are items that could easily exceed their limit. To be sure you’ll receive full settlement, have them appraised and listed on your policy to ensure you’ll receive full replacement value at the time of the loss.
Have you inherited your grandmother’s fine silver? Do you know the value? How about guns? Just one rifle could exceed your policy limit!
If you have assets that exceed the specific limit in your standard homeowner’s policy, you will need to purchase additional coverage. The cost is minimal when you consider how much you stand to lose.
Cindy Hartman is President of Hartman Inventory, LLC, a business and home inventory service provider. She and her husband Mike are also owners of Hartman Inventory Systems, LLC, a company that provides assistance to entrepreneurs who want to establish their own home-based inventory business. http://www.HartmanInventory.com
Madison budget: âShared painâ seen
MADISON – The Borough Council’s yearly round of budget work sessions began with a by-now-familiar refrain of dwindling surpluses, increasing employee costs and how to ease the burden on taxpayers.
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Estate planning isn’t just for the wealthy
You may have heard that the estate tax has been eliminated. It hasn’t been. You may have heard that estate taxes apply only to the wealthy. They don’t.
Read more on The MetroWest Daily News
Obituaries: Robert Gray Woolsey, 93, of Asbury
Robert Gray Woolsey, 93, of Asbury, died Wednesday, Feb. 17, 2010 at his home in Asbury. He was born in Brooklyn N.Y. June 2, 1916, the son of the late Stephen and Edna Lyons Woolsey. He was a retired Vice…
Read more on The Warren Reporter
More Denver eateries dare patrons to super-size
DENVER – Some food stories beg to be launched with lapidary prose and the gentle ladling of descriptive passages, maybe with a French phrase thrown in for good measure. Gentle reader, this is not one of those stories. So we’ll cut to the chase: Do you think you have the guts – or gut – to eat an 11-pound pizza, crust and all, in two hours or less? Could you down – and keep down – a burger …
Read more on Summit Daily News
Homeowners told to buy flood insurance soon
If you want flood insurance to help protect your home against a spring flood, buy the insurance this week or you’ll miss the boat.
Read more on The Fargo Forum
Insuring your home is one of the most important decisions you will make. After all, your home is likely the largest investment you will ever make. It is very important to know how this insurance basically works. It is actually a combination of types of coverage that all goes together to make homeowner’s insurance.
Of course the first kind of insurance is which covers the structure itself. There is more to consider than one may at first realize. For instance, what about insuring for replacement cost as opposed to actual cash value. Insuring for replacement cost is having enough insurance to replace your home if regardless of any depreciation. Sure, you expect your home’s value to appreciate, not depreciate. But what if there is damage to a part of it. Say a broken water pipe leads to damage that requires your cabinets to be replaced. This kind of insurance would pay to replace the cabinets and would not take into account any depreciation of value for the age of the cabinets.
If you are insured for actual cash value you will pay less on insurance premiums, but in the event of a loss or damage, you may not receive enough money for replacement. What you will receive is the cash value of the damaged property at the time of loss.
In order to determine what it would cost to replace your home today may require a professional appraisal. A general idea can be gained by learning what the current rate of new construction is in your area per square foot. Say that figure is $150. Multiply that amount by number of square feet in your home and there you have it.
Another type of coverage that goes into the homeowner’s insurance package is contents or property insurance. This takes care of the property that you have in your home. This includes your clothes, furniture, appliances, and so on.
Be sure to know that everything in your home isn’t automatically covered by this kind of insurance. For instance, if you have jewelry, coins, silver, furs, or things of this nature, they may require a policy rider to be added in order to be covered.
The same concern for replacement vs. cash value exists for the contents of your home. The typical policy will pay for the current cash value of your home’s contents. Replacement value will have to be specified is desired.
When addressing the need for content or property insurance, making an inventory is a wise move. This can be a room by room list of items, listing the approximate value of each, or one may choose to photograph or video these items. A video could include a narrative of values or any necessary explanations.
To learn much more about other types of insurance for homeowners, visit MyHomeInsured.com where you’ll find this and much more, including special concerns if you will have an unoccupied home for a time.
Hanover to keep half its La. insurance policies
Published: Feb 19, 2010 – UPDATED: 1:34 p.m. The Hanover Insurance Group will be allowed to hang onto half of its 14,000 Louisiana policyholders and shift the remainder to Gulfstream Property and Casualty Insurance Co. under an agreement with the state Department of Insurance.
Read more on The Advocate
Business Watch
Washington — Millions of seniors who signed up for popular private health plans through Medicare are facing sharp premium increases this year — another sign that spiraling costs are a problem even for those with solid insurance.
Read more on The Springfield News-Leader
Chile The First Government To Approve Wyeth’s Prevenar PCV13
In the Q409 Business Environment Ratings (BER) for the 10 markets of the Americas, Chile’s composite score continued to worsen, with the country now placed eighth overall.
Read more on OfficialWire
Missoula business fire investigation still on hold
MISSOULA – A Missoula Fire Department official says that they will get together with a private insurance company next week to investigate the fire that destroyed several Missoula businesses.
Read more on KAJ Flathead
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Recently it has been made mandatory in almost all the countries that drivers whoever have the permission to drive on the highways or roads have to possess the auto insurance. Otherwise if they are caught on the roads without the insurance they will be punished and that may cost a huge on their pockets or they may even take to the jail. However, one thing must be mentioned here that may benefit the drivers while they are going to avail the auto insurance.
Age is an important consideration and it influences the rate of auto insurance. However, it is the sole responsibility of the clients or the drivers to check t5hses variation in rates of auto insurance that highly depends on their age, driving track record etc. The rates of premium on auto insurance vary depending on the age, sex and experience of the driver or more precise to say the track records of the drivers. In fact, auto insurance companies believe that the gender and age tell a lot about the fact that how the driver will handle his or her vehicle. Some drivers’ track record shows that they are highly prone to accident and they obviously have to pay a higher rate of premium for their auto insurance.
Further sexes also have an impact on the rates of premium of auto insurance. Female driver, who belong to the age group of 18 and 25 have to pay much lower premium compared to their male counterparts hailing from the same age group.
Researches prove that the young female drivers are less prone to accident compared to the male young drivers. But the condition changes if the female drivers are similarly prone to accident and they also have to bear the same rate of premium as of their male counterparts. Some people are of the impression that gender difference in terms of getting lower rates in auto insurance is only viable among the young drivers, but in reality the case is not so. In fact drivers belong to all age groups and of different gender based on their track record get the rates of car insurance.
Actually it’s not the gender but the track record or the driving record that actually influences rate of premium of the vehicle owners or car owners or the drivers driving the vehicles or cars. Age of gender or sex can impact the car insurance rates or the rates of premiums to certain extent but old drivers also have to pay a certain amount. In this case also old female drivers have to pay less compared to the old male drivers.
When the young female driver is also engaged in reckless driving then they will also have to bear similar insurance rates like that of their male counterparts. So to avail the cheap auto insurance, it is advisable to the young drivers to drive carefully and take every precaution to avoid accidents. Discounts on auto insurance rates are also available for young drivers belong to both sexes and it is the duty of the drivers to check if any such schemes are on offer by the auto insurance companies.
AutoQuoteNow.com provides all the relevant information required to avail cheap car insurance for young drivers. To avail the discount auto insurance young drivers must follow some precautionary measures and they can avail the best auto insurance for them at lowest premium.