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Mary Rand
Home Insurance Editor |
When you're looking to save on you home insurance, it's most important to have enough home insurance coverage to take care of any costs of rebuilding at current construction costs. Keep in mind, the cost of replacing your home could be less than the price you paid for it, or could sell it for today.
Umbrella insurance is extended liability insurance coverage that goes beyond the protection provided by your car insurance company and home insurance policy. You may find insurance agents offering umbrella insurance to you as a supplement to your homeowners (including renters) policies and sometimes auto insurance. Umbrella insurance policy costs generally run $75 to $100 per month for $1,000,000 in extended liability coverage. |
Your homeowners insurance policy may cover mold damage to property caused by mold when the mold damage is considered to be the consequence of a covered peril. For example, if a pipe breaks while you are on vacation, and mold is present on your return, the mold cleanup and property repair will most likely be covered if the water damage is covered under the policy.
You're obviously a smart budget-minded consumer that loves to plan if you're reading this article. The main reason to have a comprehensive inventory is in case of a home insurance claim. When you make an insurance claim for damaged, lost or stolen property, your homeowners policy will require you to show the quantity, description and amount of loss associated with each item.
The cost of the avg. dog bite to a home insurance policy is $21,200, accounting for about 4% of homeowners claims or 15% of homeowners liability claims. Homeowners are financially liable for dog bites. Most homeowners and renters policies provide $100,000 to $300,000 in coverage for liability claims. |
