Home Insurance

We all know that "Home is where the heart is". It is a popular saying, so there is no doubt you are familiar with the phrase. You see it all most everywhere, but the most popular places where the saying can be seen are probably in those little hand made, cross-stitched pieces of cloth that you see framed and sometimes hanging in one of your friend's house or at least in the homes of characters in the movies, where I often see them. In any sense, what does the phrase mean to you?

Until and unless you are one of a rare breed who grows up in a different place and moves out every few months or so, you would know that your home is truly where your heart is. When you have been out for a long time, living in hotel rooms, in transient homes and the like, no matter how simple your place is back home compared to the places you stay in, when you go back, the feeling of coming back home gives you a feeling of belonging. Even if the place you call home were a one room decrepit structure, you would have a feeling of comfort in it. Because as they say, home is where the heart is.

Having a home is more than having a piece of property; it is a place where memories live. Did it ever occur then, that like your heart, which is a delicate thing and easily broken, that your home needs protection as well? Enter: home insurance. Why get home insurance? Imagine that the place, which brings back many memories of your childhood, or maybe it is a place where you are just starting to create new memories in, fall victim to a burglary, vandals, or worse, be gutted in a fire. The feeling you would get when that happens surely won't be one of joy. The sight of seeing your home, your memories, being destroyed is a feeling of deep sadness, like someone had taken your heart out and stomped it on the ground. And after that initial onslaught of emotions, comes a wave of bitterness as well, because once everything sinks in, you will find that it is a very hard process to rebuild, especially when you have invested so much.

Does home insurance protect you and your home from this ever happening?

Yes and no. If something happens, the sadness and feeling of loss will always be there, but at least when it comes to rebuilding, you will not be as hard put to rebuild and put everything back in order. Much the same way how life insurance works, it does not prevent accidents from happening, but at least, the financial and emotional turmoil one would go through trying to heal is somewhat reduced by having insurance. So for the sake of your home, for the sake of your heart, go get home insurance for yourself. Though you will never know what might happen or how serious, it is better to be safe than sorry.

Renter's Property Insurance

If anyone is renting his/her house, a condominium unit or an apartment, the Renter's Property Insurance covers all the losses sustained by his/her personal property. The commercial property insurance also called as the Landlord's policy will cover only the physical dwelling or the house itself. It does not insure all the contents of the house against fire, theft, earthquake, flood and other natural disasters. These concerns are left to a Renter's Property Insurance package to cover. Also called the tenant's policy, this product of insurance does offer liability protection which covers unintentional bodily injury or property damage caused by the home contents to others.

Unlike the Commercial property insurance, the Renter's Property Insurance is not so expensive if you consider the amount of money and property one stands to lose in the event of a fire, theft, earthquake, flood or any other national disaster. The Renter's Property Insurance Policy offers tenants a means of protecting themselves against unexpected financial crisis and difficulties.

The Renter's Property Insurance Policy covers named perils. The simple meaning is that the policy clarifies what a policy-holder is insured against. Some of the more popular named perils are vandalism or malicious mischief, fire and theft. Some companies bundle coverage for national disasters under the heading allied perils, which can include lightning, flood, windstorm and earthquake.

Renters need to clarify whether their policy includes actual cash value or replacement cost. Actual cash value offers to pay for the cost of the property at the time it was damaged or stolen, while replacement cost covers the cost of replacing an item. Replacement cost will have a higher premium but the pay out is more substantial when a claim is made.

It is prudent for renters to declare the particularly valuable items they possess. Expensive items might need an altogether separate rider policy with a separate premium. Renters also need to take a thorough inventory of their belongings prior to taking out renters insurance. It may also be wise to take a video or photographs of their belongings for a more accurate documentation.

If a rented dwelling becomes unlivable due to a fire or any other reason, the renters property insurance will pay for additional living expenses, which basically means that the policy will shoulder the cost of renting another place to live in. Clearly, this type of insurance is a must for renters. We all work hard to acquire the things we like to have and it is only appropriate that we also set aside funds for an insurance that would protect our precious belongings against all kinds of losses.