Financial Planning

Maybe. You need to have Home Contents Insurance to make sure that your furniture and household belongings are covered in case of loss or damage.

There are two major types of home insurance that you should have to be fully protected if you are a victim of a disaster or property crime.

A traditional homeowner’s policy protects your real property. Real property is your home, garage or carport, sheds and outlying structures. If your home is damaged or destroyed by a covered event, the insurance company will have an adjuster come out to your home and help you file a claim for financial compensation based on what he/she deems to be your financial loss. This money can only be used to repair or rebuild your home so that you can continue to live in it so that you can pay your mortgage.

Home contents insurance is a separate policy that covers your personal property. This includes the contents of your home and personal belongings. Many traditional homeowners policies provide personal property coverage for 50% of the amount of insurance you have on your home. If this isn’t enough, you can increase your coverage or buy a Replacement Cost Insurance Policy that will cover your items for what they would cost at today’s prices.

Sometimes, home contents insurance is also called personal property insurance. For people who are rental tenants and don’t own the home they are living in, it can also be called a renter’s insurance policy.

If you haven’t done a household inventory, then that’s the first thing you need to do to make sure that you know what will be covered in a home contents insurance policy. If you have a video camera, you already have what you need to do a walk-through of your home and capture on video the belongings you want to cover in an insurance policy. After you’ve done a video of your furniture and personal belongings, be sure to look for the original receipts for the more expensive items. It’s best to store your receipts in a location away from home, perhaps in your desk drawer at work or in a safe deposit box. Be sure to let someone else know where you have put it.

Below are some of the items that are covered by a home contents insurance policy. When you think of the items that you own, don’t only limit it to furniture. Look at the list below and you will begin to see just how much you would need to replace if you were the victim of a disaster or property crime.

o Carpet, area rugs
o Window coverings and drapes
o Artwork, heirlooms, collectibles, antiques
o Furniture, baby furniture, couches and love seats, tables, dining room sets
o Fine china
o Outdoor furniture, lawn furniture
o Light fixtures
o Sports equipment, bicycles, golf equipment, scuba gear
o Electronic equipment, computers, laptops, ham radio equipment
o Appliances, refrigerator, freezer, stove, microwave
o Jewelry
o Lawn tools, generator, riding lawn mower

Cheap homeowners insurance. Does it really exist? Yes … if you know how and where to look. Here’s how to find cheap homeowners insurance the easy way.

What Homeowners Insurance Covers

Structural Coverage – This coverage pays to have your home rebuilt if it’s damaged or destroyed. To find out how much coverage you need, get the square-foot building cost in your area from a builder or a realtor, then multiply that figure by your home’s square footage.

Personal Property Coverage – Your personal property is anything in your home that is not not part of the house structure – clothing, furniture, appliances, electronics, etc. To figure out how much personal property coverage you need, take an inventory of everything you own, then add up each item’s value to get the coverage amount.

Expensive items like jewelry, furs, antiques, and collectables may not be covered under some policies, so you’ll need to purchase extra insurance to cover them.

Liability Coverage – Liability coverage pays for damage done to others and their property when you’re at fault. It also pays for your legal fees if you’re sued. If you don’t have a lot of assets, $100,000 coverage may be enough. But if you do have a lot of assets that you could lose in a lawsuit, consider purchasing at least $300,000 to $500,000 worth of liability coverage

Off-Premises Coverage – This pays for your basic living expenses if your home becomes uninhabitable due to fire or other causes. This coverage is especially important if you live in a high risk area for natural disasters.

Most homeowners policies do not cover floods and earthquakes, so you’ll need to purchase extra coverage if you live in a flood or earthquake zone.

How to Get Cheap Homeowners Insurance

Insurance rates can vary by hundreds, even thousands of dollars from one company to the next. This being the case, the best way to get cheap homeowners insurance is to go to an insurance comparison website where you can compare rates from a number of different companies.

A few comparison sites even have insurance professionals on hand to answer any questions you may have through their online chat service (See link below.)

To get the cheapest rate, make sure to request the highest deductible you can afford, and get all the discounts you’re eligible for.

Every wise person strive to protect their investment as much as they can. Free home insurance quotes helps you find cheaper ways to keep your home home adequately protected.

It is sad to know that some people do not think it so important to have their homes fully covered. Some blame this on cost while some other just don’t think they would need it. For the former, you can find cheaper coverage if you know how to find it. For the latter,, nothing can be more misleading than thinking you surely would not need home insurance. The truth is actually that you may never need it but are you %100 sure of this?

Let me try to point out some reasons why you need home insurance coverage.

1, This policy provides coverage against the loss of your home. This means if your house is damaged or totally destroyed, you can get compensation or even get it rebuilt with funds from your claim settlement.

2, You also get coverage for your personal effects. Each of us have some important things in our homes. Some these things are of immense financial or emotional value to us. Having them covered therefore is a very wise move.

3, A person could come to some injury on your property resulting in medical expenses or even a lawsuit. A part of home insurance covers you from this.

Being fully covered means having this different components of home insurance represented on your policy. They actually come in different packages – the home policy, the liability coverage, personal property coverage, additional expenses coverage etc What you need to do is understand the specific coverage provided by each and then determine which you need. The major ones explained above can offer basic coverage. You can however improve on it by adding other coverages.

The important thing I want to point out here is that whatever coverage you need, you can get it at an affordable rate if you only get and compare free home insurance quotes.

Visit quotes comparison sites and get free home insurance quotes for comparison. These quotes would help you find an insurer offering the coverage you want at the best rate. Please, do not be carried away by cheap rates. Be sure that the coverage you are getting is adequate and that the insurer is viable enough to meet their part of the agreement when the time comes.

Because hurricanes, floods, fires, and burglaries are on the rise in Florida, mobile home insurance is no longer a luxury, it’s a necessity. Here’s how to get cheap mobile home insurance in Florida.

Mobile Home Insurance

Standard mobile home insurance includes the following coverages:

Structure coverage – This pays to replace or repair your mobile home, and other structures like a detached garage, when they’ve been damaged or destroyed by fire, plumbing leaks, vandalism, or storms. Standard policies do not cover damage caused by floods, so you’ll need to purchase extra insurance if you want flood coverage.

Personal property coverage – This pays to replace your personal property – electronics, clothing, furniture, bicycles, sports equipment, tools, etc. – when they’ve been damaged or destroyed by fire, plumbing leaks, vandalism, or storms. Standard policies limit the amount of coverage for expensive items like jewelry, furs, collections, and antiques, so you’ll need to get additional insurance for these.

Additional living expense coverage – This pays your additional living expenses when your mobile home is uninhabitable and is being repaired. This coverage pays your hotels bills, restaurant bills, and other additional expenses.

Libility coverage – This pays for medical claims, property damage expenses, and legal fees if you or your family injure another person or damage their property.

Trip collision coverage – This pays to repair or replace your mobile home when it’s been damaged when you move it to a new location.

Emergency removal coverage – This pays to move your mobile home when it’s being threatened by an approaching fire, hurricane, or other perils.

Loss assessment coverage – This pays your share of losses assessed by your association.

How to Get Cheap Florida Mobile Home Insurance

The cost for mobile home insurance can vary by hundreds of dollars from one company to another, so the first thing you should do is get quotes from different companies see which company has the cheapest rate. The best place to do this is at an insurance comparison website where you can get multiple quotes by filling out a simple questionnaire with information about your mobile home and the amount of insurance you want.

In order to get the cheapest insurance premium, request the highest deductible you can afford and get all the discounts you’re eligible for when you fill in the questionnaire.

The top comparison sites feature a service that allows you to talk with an insurance expert so you can ask questions and get advice on mobile home insurance (see link below).

If you want to get a truly good deal on protecting your home then compare home insurance rates with an online quote. Home insurance as a general rule is not overly expensive but it also doesn’t mean you need to pay more then need be. And the peace of mind you get knowing your most valuable investment is properly protected is well worth the effort.

The great thing about going online to get insurance is being able to get multiple quotes in a short amount of time with minimal effort. All the big insurance companies have an online presence that includes websites that let homeowners fill in the necessary information online and return a policy quote in a matter of minutes.

Most insurance companies require the same information to accurately quote your home owners insurance needs. If you gather this information before hand you’ll be able to quickly fill out the required information. If you have a current insurance policy pull it out of the file and look it over. A good portion of the information you need will be on it. The main questions you will need to answer include:

1. The square footage of your home, the year it was built, and in some cases the type of construction.

2. The amount of coverage needed, which is based on the amount of money it would take to rebuild your house from the ground up. Many people mistakenly insure their home for its perceived resale value, which in most cases is too much insurance.

3. Do a home inventory to determine the amount of personal property coverage you will need.

4. Decide how much deductible you are willing to pay. Most insurance companies require at least a $500 deductible but you can opt for a higher amount which will lead to a lower premium.

5. They will also want to know the location or distance from your home to the nearest fire station. They may also ask for the distance to the nearest fire hydrant.

You can plug this information into any insurance website and get an accurate quote in just a few minutes. When you want to compare home insurance rates it doesn’t get any easier then this.