| Homeowner's insurance or renter's insurance is a | | | | through your home after you take inventory if |
| necessity; it covers you for unexpected | | | | you would like. At the bare minimum, however, |
| occurrences ranging from robberies to fires. | | | | having the inventory log of the valuables in your |
| However, when it comes to assessing whether or | | | | home will get you a lot more in reimbursement if |
| not you have adequate coverage, the devil is in | | | | the worst does occur. |
| the details. For example, did you know that the | | | | 3. Determine Exactly What IS Covered: Insurance |
| majority of these plans do not cover floods or | | | | packets and their corresponding websites are not |
| earthquakes or that some cover fire damage but | | | | written for the layperson. They can be highly |
| not wildfire damage? With more and more | | | | confusing, full of legal mumbo-jumbo, and contain |
| extreme cases of weather and natural disasters, | | | | asterisked scenarios such as "If your home is |
| it is more important than ever to review your | | | | damaged in a fire you are covered for X amount |
| coverage and be certain that you have the best | | | | of dollars."* The small print under the asterisk |
| level of protection you can get given your budget | | | | then clarifies along the lines of *Note: Unless you |
| constraints. | | | | own a red car, a monkey, or have ever eaten at |
| Here are 5 tips for getting your home insurance | | | | Dale's Deli." These papers can be overwhelming, |
| organized. | | | | so schedule an appointment with your agent and |
| 1. Watch What You Claim: Did you know that if | | | | discuss the ins and outs of your current coverage. |
| you keep making small claims over and over, you | | | | To make the conversation easier, bring your |
| may exhaust your insurance funds more quickly | | | | valuables binder to talk about your home |
| than you anticipated or be dropped from the | | | | inventory, and discuss events that aren't covered |
| plan? It may also cause your premiums | | | | by your current plan, like sewage, hurricane, flood, |
| significantly increase, in which case paying for that | | | | earthquake, etc. |
| roof repair out of your pocket may be smarter | | | | 4. Equip and Prepare: Owning Insurance is one |
| financially. Look carefully at your plan before you | | | | piece of the puzzle, but you can also take |
| make a claim or talk to your agent to find out all | | | | insurance into your own hands with proper |
| of the nitty gritty details on small claims and their | | | | emergency planning and preparation. For example, |
| effect on your coverage. | | | | if you live in an area that has frequent wildfires, |
| 2. Take Inventory: Do you know exactly what is | | | | you should clear the brush around your property |
| in your home? First of all, write down from | | | | on a regular basis. You may also want to consider |
| memory everything of value in your living room | | | | applying a coat or two of fire deterrent paint. If |
| from electronics to DVDs. Now take that list to | | | | you live in a hurricane prone area, do you have |
| the living room. Did you remember it all? Now | | | | proper roofing reinforcements and windows |
| imagine doing that for your entire home after a | | | | installed? Even if you don't live in an area with |
| fire rips through your home. Everyone has | | | | extreme weather, simply having an alarm system |
| valuables; they are so much more than just | | | | means fire departments will be quickly alerted of |
| artwork or televisions. Think about your CD's, | | | | flames and police of burglaries. These safety |
| iPods, clothing, outerwear, golf clubs, Corningware, | | | | defenses also have an added bonus: they can |
| picture frames. They are all valuable and worth | | | | lower your insurance rates dramatically. |
| something. Go through your home and take an | | | | 5. Have an Insurance Assessor on Deck: Keep the |
| inventory of everything in your house room by | | | | contact information of a trusted insurance |
| room. Take photos, keep the proofs of purchase | | | | assessor who is not affiliated with your insurance |
| for anything in your home over $200, get | | | | provider in your valuables inventory log. If you |
| appraisals done on all luxury items like jewelry, | | | | ever need to file a claim, have that third party |
| and keep it all in an easy to grab binder that you | | | | assess your damage immediately. Your insurance |
| can take with you at a moment's notice. The | | | | company is going to do the same and they will |
| other reason this step is important is you may | | | | try to pay you back as little as possible. Cover |
| find that you are carrying insurance for $25,000 | | | | your bases and fight back by having another |
| worth of goods in your home, but actually have | | | | professional document the claim and cost so you |
| close to $50,000 worth of items in the house. | | | | get what you rightfully deserve. Your home is |
| You can also hire an insurance appraiser to go | | | | your safe haven, your livelihood. |