The Ins and Outs of Contents and Car Insurance
If you are without insurance coverage for your car, home contents, or both, drop whatever you are doing and read this article. It is important to obtain the right policy for both your auto and home contents needs. The right car insurance can help keep a fender bender from worsening into a day in court, and contents insurance can provide replacements for any household item that is lost in a disaster or theft. Not having either of these is an invitation to make your life unnecessarily difficult.
Two highly important pieces of information to consider are the differences between receiving a replacement or an indemnity cover. The former means that the insurance company will provide a full replacement for household items (although many companies cap this at a certain “age” of the item), while “indemnity cover” means that the company will offer a cash sum estimated to equal the original amount of the item. Several companies also offer a type of content policy known as “Favorite Things”, which can insure up to 10 items, usually for around $10,000. Some companies even include an additional $250 for any accompanying accessories.
Another infamously complicated form of insurance is automotive, primarily because of the many types of plans available. It is important to try and take an inventory on every single characteristic that makes you stand out to an insurance company. For instance, plans tend to be higher for performance-modified vehicles. The most vital thing to remember when looking for a plan is to always be honest with yourself and your provider. Full disclosure can help avoid a series of car insurance pitfalls, and will help you rest easily.