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Covering Contents with Home Insurance

Buying a home is a big responsibility. It is important to maintain your home to keep your investment of value. This also means having adequate insurance is essential. Home insurance will of course protect the dwelling itself from different risks. However, this is not the only thing your home insurance policy should cover. The contents inside the home should be insured as well.

To cover the contents of your home you will want to add contents insurance to the policy. This will take care of the costs of replacing your belongings as well as the contents within the home. This coverage will take effect if a loss occurs due to such situations as fire, hail, lightening, theft, wind and more.

Most insurance companies like will permit homeowners to have about 50% to 70% of the home’s value as contents insurance. This may not be enough for some people. This doesn’t mean they are out of luck. Insurance companies do permit homeowners to take out additional contents insurance for a larger premium.

The best way to determine how much you need is to take an inventory of all your personal possessions. It can also be helpful to have pictures and save receipts. This inventory can be helpful in two different ways. It would permit you to determine the value of your possessions so that you can ensure having adequate coverage for them. Also, this inventory can help in the event that an incident occurs and your insurer asks for proof that you owned a particular item. Never keep these documents in your home. They could be destroyed which would defeat the purpose of having them.

Most insurance companies will have limit on certain types of contents. If your items exceed this amount, you will need more coverage. A good example is jewelery as many people have a collection with a higher value..

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