Proper Planning May Help You In Case Of A Fire
No one wants to endure the pain of a house or apartment fire. The aftermath of a fire can be emotionally taxing, however, proper planning can eliminate some of the stress. This blog is designed to assist homeowners and renters in case you ever find yourself in the unfortunate situation of a home fire.
Homeowners Insurance & Personal Property
Homeowners Insurance policies generally covers, the structure of the home as well as its attached structures, and personal property. While personal property may be covered under your home insurance policy, in the aftermath of a fire it may be hard to determine just what personal property you actually owned. One home insurance specialist recommends that homeowners should keep a “digital home inventory that itemizes all the things in your home including estimated values and photos.”Additionally he suggests that this “digital home inventory” be stored away from the home. By keeping a log of all things owned in the home, homeowners are more likely to receive the full value of their property rather than an insurance estimate. To further ensure that homeowners are able to recover the most for their personal items, it is best to double check your policies for limits and special exemptions. If you feel like your policy limits will not provide adequate reimbursement for your valuables, you may wish to increase the policy limits or buy excess coverage.
Renters Need Renters Insurance.
While homeowners insurance generally covers the personal belongings of a homeowner, this is not the case for renters. In the event that a fire occurs and damages the personal belongings of a renter, he will not likely be covered under the homeowners’policy. The homeowners’ policy will cover the structure of the property and its attached structures but the renter’s personal property will not be covered. Renters insurance is the only way renters can protect their personal belongings. Therefore, renters who wish to protect their personal property should always purchase renters insurance. Similar to the prior advice given to homeowners, it is wise that renters keep a “digital home inventory” as well.