Even if you are a renter, do you have the proper insurance cover to protect you if some disaster hits? If so, have you taken a look at your policy details lately? When is the last time you conducted a review to ensure you have the proper protection? Have you made sure you are protected for everything, the building, if you own it, but what about all of your contents, too? Tragedy does hit and most people never understand just how devastating this can be until it hits home, literally.
Disasters Destroy Memories: Disasters come in all forms including tornadoes, hurricanes, strong storms, flooding, ice damage and much unexpected situations such as planes crashing into homes as well as an errant motor vehicle straying off the road causing property damage.
If you do not have the right cover, you could lose everything.
Yes, there are irreplaceable items such as family mementos, heirlooms, antiques and even business documents.
But without the proper cover, although always missing these items, you will be sitting in a destroyed home on the floor with no clothes on.
Proper Building and Contents Cover Is Recommended: Go ahead and pull out your policy for a thorough read.
What's that? You can't find it.
Immediately contact your provider for a copy and when you have it in hand, make sure to check for the following: * Percentage of recovery for any loss of personal or business property.
Is it full coverage or just partial? Are there exceptions to items covered? * Does the policy provide actual value recovery or a set amount? * Make sure to check to see if specific items such as jewellery, antiques and heirlooms are covered.
If not, inquire about a special rider outlining exact recovery compensation.
* Does the policy cover for building replacement value at today's market prices or only protects for depreciated value? * What about acts of God? A great many building and contents insurance providers do not provide protection for flood or fire especially if your home is located in areas prone to these types of natural disasters.
Protection is offered but must be purchased as either riders or separate policies.
Compensation Levels Need Review: It was more than likely an exceptionally exciting and busy time when you first took out a mortgage for you house.
And, if some tine has gone by the way, you really should take the time to review your policy to make sure time has not advanced leaving you with insufficient cover.
Situations change.
You might have inherited or been gifted a valuable piece of furniture or a family heirloom not original covered in a policy you simply renew each year without much thought.
What if you have added on to the home increasing its value significantly? A proper review conducted periodically will help discover if you need to make changes that will guarantee you have the correct level of protection.
Without such a review, you might be unintentionally exposing yourself to an under-insured situation.
Take the initiative to make sure you have proper building and contents insurance so if disaster strikes, you will have the right cover to rebuild your life if it is ever needed.
Disasters Destroy Memories: Disasters come in all forms including tornadoes, hurricanes, strong storms, flooding, ice damage and much unexpected situations such as planes crashing into homes as well as an errant motor vehicle straying off the road causing property damage.
If you do not have the right cover, you could lose everything.
Yes, there are irreplaceable items such as family mementos, heirlooms, antiques and even business documents.
But without the proper cover, although always missing these items, you will be sitting in a destroyed home on the floor with no clothes on.
Proper Building and Contents Cover Is Recommended: Go ahead and pull out your policy for a thorough read.
What's that? You can't find it.
Immediately contact your provider for a copy and when you have it in hand, make sure to check for the following: * Percentage of recovery for any loss of personal or business property.
Is it full coverage or just partial? Are there exceptions to items covered? * Does the policy provide actual value recovery or a set amount? * Make sure to check to see if specific items such as jewellery, antiques and heirlooms are covered.
If not, inquire about a special rider outlining exact recovery compensation.
* Does the policy cover for building replacement value at today's market prices or only protects for depreciated value? * What about acts of God? A great many building and contents insurance providers do not provide protection for flood or fire especially if your home is located in areas prone to these types of natural disasters.
Protection is offered but must be purchased as either riders or separate policies.
Compensation Levels Need Review: It was more than likely an exceptionally exciting and busy time when you first took out a mortgage for you house.
And, if some tine has gone by the way, you really should take the time to review your policy to make sure time has not advanced leaving you with insufficient cover.
Situations change.
You might have inherited or been gifted a valuable piece of furniture or a family heirloom not original covered in a policy you simply renew each year without much thought.
What if you have added on to the home increasing its value significantly? A proper review conducted periodically will help discover if you need to make changes that will guarantee you have the correct level of protection.
Without such a review, you might be unintentionally exposing yourself to an under-insured situation.
Take the initiative to make sure you have proper building and contents insurance so if disaster strikes, you will have the right cover to rebuild your life if it is ever needed.
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