Are you wondering if your standard homeowners policy covers your personal assets along with the structure of your home? The answer is yes, to an extent. Most homeowners policies come with contents coverage up to 50 to 70 percent of the amount of coverage on your home. This means that if your home is covered for $200,000, your policy will likely include $100,000 in personal property coverage.
While that’s plenty for some families, it may barely skim the surface for others. Think of it this way—if your house burns down, is that enough coverage to replace everything you owned and valued? If you’re a collector of any sort, it probably won’t be enough. However, you can purchase a rider on your homeowners policy to cover your most valuable items. Consider this extra coverage for high-dollar items such as:
- Fine artwork
- Electronics and cell phones
- Bikes, sporting equipment and golf carts
- Expensive china
- Musical instruments
- Taxidermy animals
- Collector cars
- Fine wines
- Any other valuable collections
As an extra precaution, you may want to take a personal home inventory to document your assets in case of loss, theft or damage. If a claimable incident were to occur, it would be very difficult to remember every single item of worth. But a list detailing your assets, their dollar value, manufacturer information, serial numbers and receipts, along with photographs, will serve as an undeniable reminder of what you’re owed for repair or replacement. Keep this inventory is a safe place, such as a fire safe or safety deposit box, to prevent it from being lost in any damage that may occur to your home.
Protect your home and everything inside of it. Call Raymond Longoria Insurance at (956) 581-1034 for more information on Edinburg home insurance.