Jakarta, Indonesia - Choosing the right insurance coverage isn’t easy. If 你 are under-insured, 你 could be left with unpaid claims. Sometimes, it doesn’t make sense to insure the contents of your 首页 for much less than they are worth, 你 could be paying for 更多 coverage types than 你 need. The key is in knowing what’s covered and what’s not. Account for any 最近的 remodels and look to see if your current coverage keeps pace with inflation. Axis Capital, a group of insurers and reinsurers with the main location in Bermuda and with international branch in UK, US, Singapore and Australia has listed some steps for 你 to know if 你 are under 或者 over insured.
What 你 need is coverage that’s just right. Here’s how to get it, and it shouldn’t take 更多 than 4 或者 5 hours of your time spent reviewing your homeowner’s insurance policy, talking to your agent, and doing a little research.
Step 1
Pull out your policy before the annual renewal date. Check for coverage limits, exclusions and restrictions. Always remember that all homeowners insurance isn’t created equal. That’s why it pays to review your coverage every 年 to ensure your policy meets your evolving needs. Begin 由 understanding the types of coverage available.
Step 2
Estimate the value of your home’s contents. Unless 你 do a complete inventory of your household furnishings and personal possessions, the things 你 own could be worth a lot 更多 than 你 think. Replacement cost coverage is 更多 expensive but usually insures your personal property for what it costs to buy new.
Step 3
If 你 have recently remodeled your house, 你 should increase your coverage. It is a general rule of thumb to increase coverage once 你 have completely remodeled project that cost 更多 than at least 5% of your home’s value.
Step 4
Contact legit homebuilders in your area to get 语录 on the cost of new construction. This will help 你 figure out how much insurance 你 need to buy to cover the total cost of rebuilding your home. Just make sure that 你 do not get a fraud contractor.
Step 5
Insure your 首页 for what it would cost to rebuild it. If 你 only take out enough insurance to cover what 你 paid for it, 你 could find yourself in big trouble financially should something happen. It will cost 你 a few dollars 更多 in premiums but each 年 the amount of insurance 你 have on your 首页 automatically increases.
Step 6
Buy additional coverage if 你 live in an area at high risk for natural disasters like hurricanes, earthquakes 或者 floods. Losses due to these types of disasters aren’t covered 由 standard homeowners insurance, so 你 need separate policies.
Step 7
Consider buying replacement cost coverage for family heirlooms 或者 other valuable stuff that would be really expensive to replace. Most policies only provide actual cash value on a home’s contents and then the coverage.
Step 8
Buy as much personal liability coverage as 你 can afford. While it’s hard to figure how much liability coverage you’ll need if someone sues you, start 由 calculating your net worth. Without adequate coverage, you’ll be forced to sell some of what 你 own if your policy limits won’t be enough to cover damages if you’re sued.
What 你 need is coverage that’s just right. Here’s how to get it, and it shouldn’t take 更多 than 4 或者 5 hours of your time spent reviewing your homeowner’s insurance policy, talking to your agent, and doing a little research.
Step 1
Pull out your policy before the annual renewal date. Check for coverage limits, exclusions and restrictions. Always remember that all homeowners insurance isn’t created equal. That’s why it pays to review your coverage every 年 to ensure your policy meets your evolving needs. Begin 由 understanding the types of coverage available.
Step 2
Estimate the value of your home’s contents. Unless 你 do a complete inventory of your household furnishings and personal possessions, the things 你 own could be worth a lot 更多 than 你 think. Replacement cost coverage is 更多 expensive but usually insures your personal property for what it costs to buy new.
Step 3
If 你 have recently remodeled your house, 你 should increase your coverage. It is a general rule of thumb to increase coverage once 你 have completely remodeled project that cost 更多 than at least 5% of your home’s value.
Step 4
Contact legit homebuilders in your area to get 语录 on the cost of new construction. This will help 你 figure out how much insurance 你 need to buy to cover the total cost of rebuilding your home. Just make sure that 你 do not get a fraud contractor.
Step 5
Insure your 首页 for what it would cost to rebuild it. If 你 only take out enough insurance to cover what 你 paid for it, 你 could find yourself in big trouble financially should something happen. It will cost 你 a few dollars 更多 in premiums but each 年 the amount of insurance 你 have on your 首页 automatically increases.
Step 6
Buy additional coverage if 你 live in an area at high risk for natural disasters like hurricanes, earthquakes 或者 floods. Losses due to these types of disasters aren’t covered 由 standard homeowners insurance, so 你 need separate policies.
Step 7
Consider buying replacement cost coverage for family heirlooms 或者 other valuable stuff that would be really expensive to replace. Most policies only provide actual cash value on a home’s contents and then the coverage.
Step 8
Buy as much personal liability coverage as 你 can afford. While it’s hard to figure how much liability coverage you’ll need if someone sues you, start 由 calculating your net worth. Without adequate coverage, you’ll be forced to sell some of what 你 own if your policy limits won’t be enough to cover damages if you’re sued.
