That feeling when
you lose something important is utterly disheartening. Any ladies who experienced losing their most
prized diamond ring know how heartbreaking it is. When you acquire home insurance, you will
eventually find out that you are not adequately covered. The valuable and small
things that are more likely to be damaged and lost will not be protected on standard
home insurance. Before it is too late,
you may need to add coverage on your personal property to ensure that you are getting
the protection you deserve.
Electronics and Appliances
The average
American home has more electronics than a basic television set. There is a possibility that your home
insurance company is not covering your electronic equipment. The $1,000 limitation on electronic coverage
that some insurance agency offers will work 20 years ago, but this amount will
not be sufficient at this age. It will
be wise to purchase additional coverage for your electronics.
Musical Instruments
When it comes to musical
instruments, the insurance policy is not imposing limits; however, there is
still a considerable gap. The policy
will not cover the breakage and damage, and your musical instrument will also
not be covered once you take it out of your home. Musical instrument does not come cheap, and
the value can immensely increase on antique instruments. For those who have a 17th-century
violin, taking additional steps to protect your belongings is necessary.
Weapons
The basic home
insurance will have a coverage limit of $2,000-$3,000 for every gun. This means that those using their guns for
recreational purposes may find the existing policy sufficient. However, for other people who possess a comprehensive
collection of firearms, your claim will typically be denied since you are not adequately
covered. With the recent statistics that
imply that the industry of firearms is on the rise, most locals may have their
guns at home that are not protected by the insurance.
Antique and Artwork
It is relatively
impossible to put a value on your kid’s finger-painting. No insurance company can provide you with the
same value when your priceless treasure is destroyed. However, if the works of famous artists also
hang on your wall, this might mean that you will need to purchase additional
insurance coverage. The basic home
insurance coverage will not provide you adequate protection for the value of
the antique and artwork.
Precious Metals
When you analyze
your home policy, you will find out that they have a limitation of $2,5k-$5k
for pewter, gold and silver, and everything else which may contain precious
metals. If your precious items are only
plated with gold, then the basic insurance coverage will suffice. However, extra insurance is necessary for
those who have authentic and solid items.
Our home is one of
the most critical investments that we will make, but there are times that our
home houses things that are more valuable to us. Sufficient coverage from basic home insurance
is relatively inexpensive, and it is worth every penny.
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