Protecting Your Home With An Insurance Policy
Before you sign the final documents for the insurance policy for your home, there are a few questions that you need to ask so that you know what’s covered and what you would need to replace on your own. One of the things that you need to find out is whether your affordable homeowners insurance Pittsburgh PA policy covers the actual cash value of your home and belongings or if it only covers the replacement value. This value is usually much lower than the initial cost, which means that you would likely lose money if a disaster occurred.
There are usually limits in place on jewelry, artwork, and family heirlooms. The reason for the limits is because items like this are usually very expensive, and heirlooms often hold more of a sentimental value than a cash amount. Find out if your home is covered under any kind of disaster, such as flooding, fire, a hurricane, or a tornado. You should also find out if your home and belongings are covered in the event of an accident. Some policies will cover your belongings if they are stolen, but you need to be prepared to have proof that the items taken from your home were yours before they were stolen. Write down serial numbers of any electronics and appliances, keeping a copy in your home and giving a copy to your insurance company so that they have a record of the valuable items in your house.
You can include endorsements with your policy if you have family heirlooms and other items that are a bit more personalized than standard electronics, appliances, and other possessions. If you’re looking for a way to reduce your monthly premium in the future, consider increasing your deductible or taking steps to secure your home, such as installing an alarm system.