Okay, so you don’t own the house or apartment you live in, but you own the items inside, right? Your bed, the television you watch, the computer you’re using to read this; all belong to you or someone who lives in the house. So why not make sure you can afford to replace these things in the event something happens.
Sure you may think, “Meh, all my stuff is old and broken down. It’s not worth insuring.”
It may be old and not in the best shape, but it’s still useable. Also, just because you don’t think something is worth much, doesn’t mean someone won’t steal it. Now, imagine how much it would cost to replace your old stuff. All of it.
That insurance is sounding better and better, isn’t it?
Renters insurance is pretty inexpensive. Sure you might have to give up a latte or two — a month — to afford it, but isn’t going without caffeine worth the peace of mind of knowing that if your l andlord’s “trick” to fixing the breaker box is unsuccessful and the building catches fire, all your worldly possessions can be replaced?
Bitter temperatures, howling winds and icy precipitation can easily turn a pretty winter snowfall into a dangerous event.
With a storm now on your doorstep, here are a few things you can do to stay safe and warm while the storm
Check your supplies. Make sure you have a snow shovel and ice melt to keep walkways clear and safe. Check that you have sufficient heating fuel for your home and fuel for your generator, if you have one. If you will be using a fireplace or wood-burning stove, you should have a good supply of dry, seasoned wood. Have warm clothing and blankets on h and and stock non-perishable food items and necessary medications to last you and your family several days.
Get ready for a power outage. Turn your heat up now and close off any rooms that are not in use. Check pipe insulation and allow water to run at a trickle to prevent pipes from freezing. Charge your battery-powered electronic and communications devices. A battery-powered radio can help keep you aware of changing weather conditions. Get out your flashlights, batteries, first aid kit and other emergency supplies.
Stay warm – and safe. If you start a wood-burning fire, follow all fireplace safety precautions. Do not use an oven or a range as a home heating device. If you have a generator, use it outside only, where there is sufficient ventilation. Test all of your smoke and carbon monoxide alarms to ensure they work properly. Do not let c andles burn unattended, and keep them away from combustibles. LED c andles are a safe, energy efficient alternative. Also, if you have an ice dam prevention system, turn it on before the snow starts to fall.
Stay inside – and safe. Drive only if you absolutely must, and be sure your car is outfitted with snow tires, has adequate fuel and an emergency supply kit. If you go outside to shovel, know your limits and try not to overtax your body. Protect yourself from frostbite and hypothermia by wearing layers of warm, loose-fitting, lightweight clothing. Stay away from any downed power lines you may see. Keep your pets inside, or make other suitable arrangements for them.
We at Travelers hope these measures will help get you through the storm safely and comfortably.
Buying homeowners insurance can be confusing. If you are in the market to protect your home and possessions, you may want to do some research before committing to a policy or one specific insurance company. Ask questions and find an agent you trust that works with a company that has a good reputation for keeping their clients happy.
Your home is your castle and your possessions represent not only your past, but your present as well. You have worked hard to be able to live in the fashion you have become accustomed to, so it is in your best interest to make sure things can be replaced if a tragedy or accident occurs. When buying a policy make sure you know what it will cover. Some policies may focus more on the replacement value of a house or specific possession instead of its actual cost. Knowing the difference between these two amounts will affect how much you will want to ensure the property for and how the much the premium for the policy will be. For example, a 2 story, 4 bedroom home may be valued at only $65,000, but to build the exact same home at today’s prices, the replacement value may exceed $100,000. It will be up to you what you decide to insure the property for. If you would replace your home with a smaller one that would cost less to build then insure the property for its actual value. If you want a house similar to what you have now, bit the bullet and insure for the replacement value.
Many homeowner policies cover a variety of things including roof and fire damage, theft and various forms of liability. Liability can be anything from your dog biting the mail man to you cat Skippy tripping the neighbor lady as she walked to the front door to trade the daily dose of gossip. Most insurance policies have liability clauses that cover all types of accidents that occur on your property.
A family’s possessions can also be replaced if an itemized list of valuables is included within the policy. The contents of the home that have considerable value, such jewelry and works of art, should be listed in great detail within the body of the policy.
One of the biggest areas of confusion when purchasing a homeowner’s policy is the phrase “Act of God”. Many policies claim that “acts of God” are not covered. This can include damage to due ice and wind or other natural disasters. In recent years, people have discovered that water damage caused by flooding can sometimes be a gray area when it comes to insurance. Most companies offer a “Flood Insurance” rider that is attached to the policy and covers several types of water damage.
Never buy insurance without reading the fine print. Know what you are signing up for and what a policy will cover. Making sure you have the answers to help you make an informed decision is the best way to cover your assets in this type of situation.
Susman Insurance Agency,
825 South Barrington Avenue, Suite 200,
Los Angeles, CA 90049