This information is brought to you courtesy of:
This information is brought to you courtesy of:
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What you need to know to protect yourself, your house, and your valuables Another important step in the process of becoming a homeowner is obtaining insurance for your home and its contents. In the event that a disaster strikes (hurricane, fire, wind damage), you'll need to have enough money to rebuild your home and replace your belongings. Your insurance agent can provide an estimate on the replacement cost for your home and personal possessions-just be sure to keep thorough records of what you own (photographs, an inventory list, purchase receipts, etc.) and store them in a safe place. There are several types of homeowner's insurance to choose from. Here are just a few options to consider: Basic Coverage This most basic form of insurance provides limited protection, based on a list of about 17 or so situations under which you would be covered. Broad-form Coverage A bit more extensive than basic, broad-form coverage allows for a greater range of situations for which you'll be reimbursed. All-Risk Policy Although more expensive than basic or broad-form, an all-risk policy offers much more protection under a wide range of scenarios, including fire and smoke damage, hail and wind, explosions, theft, vandalism and many others. It also includes basic liability insurance, an important form of coverage in the event someone is injured on your property and chooses to sue you for damages. Condo & Co-op Insurance If you're purchasing a condominium or co-op, you'll need a different type of insurance that will cover not only your home's contents but additions, alterations and loss assessment as well. While your building association should have a master policy on the overall structure, it is up to you to insure your personal belongings, fixtures, and any improvements you make to the home while you live there. Policy Riders Used as a supplement to an existing policy, a rider provides additional coverage for specific "high-end" items, such as engagement rings and furs. If you have any further questions regarding homeowner's insurance, or would like to find an insurance agent in your area, contact the National Consumer Insurance Helpline at 1-800-942-4242. |
Ingeborg Larsen
5542 N.W. 43rd Street
Gainesville, FL 32653
Bus: (352) 371-6100
Res: (352) 372-7908
Cell: (352) 222-6700
Fax: (352) 378-2737
