Your property insurance specialist, Raymond, has the answers to 5 key questions for those seeking to best protect their lifestyle by insuring their home.
(Psst…If you like the looks of Raymond and would rather watch the
video version of this article, click the button!)
1. Okay, Raymond, what is covered by a California Homeowner’s Policy?
Your standard homeowner’s insurance policy will cover you for catastrophic losses and sudden and accidental occurrences. Some examples would be wildfire, lightning, or if a pipe bursts in the home.
2. What is not covered?
Among other things, earthquakes and floods are not covered. These require a separate policy. Ask your insurance agent about getting coverage for these unusual circumstances today.
3. How much coverage do I need?
On your standard homeowner’s insurance policy, you are insured for the reconstruction cost of your home, not for the market value of the home or land. Need more coverage? Talk with your insurance agency today to discuss options.
4. What about my contents?
Contents are covered on a standard homeowner’s insurance policy but check with your agent to ensure you’re covered for the replacement cost of your dwelling and contents. Fortunately for the insured, no depreciation is considered in the replacement of contents. Let’s say you purchased a couch ten years ago. You will be insured for the replacement of a couch of the same original value without depreciation.
What about my high value items?
For high value items like jewelry, fur, art, etc. there are sub limits on the insurance policy. You will need to add Scheduled Personal Property to your policy. Scheduled personal property is an additional insurance policy for valuable items. Scheduling requires an appraisal. Schedule those to ensure the meaningful items in your home are fully protected.
5. In the event of legal trouble, am I covered?
Watch our video to learn more!
Some of the things you can learn in the video are:
- How to get the absolute best insurance agent taking care of you and your home
- The complete list of top insurance need-to-knows when buying a new home in California
- including answers to questions like: “In the event of legal trouble, am I covered?”
…and a few more insightful tips from our expert.