It is a good idea to take out contents insurance if you do not already have this type of insurance cover under your basic homeowners insurance policy.

Contents insurance provides you with protection if something happens to the contents of your home.

Contents insurance will normally cover household goods, personal belongings and business equipment owned by you. This may include cover for pedal cycles (up to a set amount), money (again up to a certain amount) and fixtures and fittings in the home.

You will find that there will be exclusions stated in your basic homeowners insurance policy under the contents section of cover. Common excluded items may include caravans, trailers, livestock or pets, landlords fixtures and fittings, and any part of the buildings and property more specifically insured.

The basic homeowners insurance policy will state what contents are insured against. Normally this will include the following: loss or damage caused by fire, smoke earthquake, explosion, lightning, riot, civil commotion, strikes, malicious acts, vandalism, storm, flood, subsidence, theft or attempted theft, escape of water from i.e. a washing machine, leakage of oil from heating installation, falling trees and branches and may also include insurance against accidental damage to business equipment, radios, computers, televisions and so forth.

Common exclusions in contents cover under a basic homeowners insurance policy:

The excess (as shown in the insurance schedule)

Loss or damage caused by you

Computer virus

Loss or damage during a period of unoccupancy

Loss or damage caused by domestic pets

Wear and tear

Electronic failure

The above list is not exhaustive and you should check your basic homeowners insurance policy for details of the exclusions as every homeowners insurance policy will be worded differently and may include or exclude certain items.

Additional items

Your basic homeowners insurance policy may provide cover for other things.

Alternative accommodation

Your policy may provide cover for the cost of expenses incurred during the period your home is made uninhabitable.

Loss or damage to your contents during household removal

This would cover accidental loss or damage whilst the contents are in transit between your home and your new home.

Theft of keys

This will normally cover the cost of replacing and installing door locks including keys for external doors in your home if your keys are stolen.

Personal assault

There may be a section of cover for money to be paid to your personal representatives in the event of your death as a direct result of injuries received in your home caused by thieves.

Freezer contents

You will find that a basic homeowners insurance contents policy will normally include cover for food in a freezer cabinet or compartment of a refrigerator made unfit for human consumption due to a rise or fall in temperature or contamination by refrigerant and so on. The insurer will normally also pay the cost of hiring temporary alternative freezer space as long as the cost is reasonable.

Credit cards

There may be cover for any losses as a result of fraudulent use of your credit cards by unauthorised people.

Other sections or cover:

Oil and metered water loss

Jury service

Special events

New purchases

Reinstatement of documents

Claims settlement

The basic homeowners insurance contents policy will have a section stating exactly what the insurer will do to replace or pay for stolen or damaged items.

Normally the homeowners insurer will have the option to either replace as new, pay the cost to replace as new, repair or pay the cost to repair. It is likely that the insurer will be able to make a deduction for wear and tear from the cost to the insurer of replacement or repair in certain circumstances.

The insurance schedule will state the maximum amount the insurer will pay for contents. However you will find other amounts listed in your policy i.e. it may state 500 to cover theft of you keys.

It is a good idea to shop around for quotes when considering purchasing contents insurance. When comparing different policies make sure it is clear what is covered, the extent of the cover and what is excluded to ensure you know exactly what your insurance covers you for. You can get an instant homeowners insurance quote either online or by using the telephone. For more articles like this, bookmark www.BusinessContentsInsurance.net

Author: Vicki Churchill

I know a lot of small business people, and I am one myself. In general, we love what we do and are totally dedicated to our work. However, we do not like to spend time dealing with the boring details of insuring our business even though we know that we need proper coverage to protect the company that we work so hard to build. One simple solution that I have found, and which works for many sorts of businesses, is a product called a business owners policy.

A business owners policy (BOP) cuts out a lot of the complexity of property and liability insurance. These insurance packages combine multiple types of coverage in one policy. Here are some of the types of risks that a BOP can protect a business for. Keep in mind that policies vary, and this is meant to be a list of common types of coverage that would be included.

• Property - This can include physical buildings, equipment, and inventory. Do not assume that your personal insurance, like a homeowners policy, will be adequate to cover your business.
• Business Interruption - If a disaster should strike, and you cannot conduct business, this protects your income.
• Casualty Protection - If somebody claims that your business harmed them, this would help protect you.
• Crime Insurance - This can protect your company against theft, both from people outside or inside your company.
• Liability Protection - If somebody files a suit, you will have an insurer on your side.
• Commercial Vehicles - Do not assume that your personal auto insurance policy is good enough to cover your business cars or trucks.
• Etc. - You may have unique needs, depending upon your location, the type of work your business does, and even hazards in your area. You should find a qualified insurance agent who has worked with other companies like yours for more help.

BOP plans are very popular with several types of small businesses. Here are some common types of companies that consider Business Owner Policies.

• Auto Repair Shops
• Dentist Offices
• Strip Shopping Centers
• Beauty Salons
• Small Shops
• Home Business

A BOP can also be a very good solution for your home business if you have outgrown your personal insurance. Many home businesses owners do not think they need business insurance. But if you have invested in equipment and risk liability, you are probably not covered well by the policies your bought to cover your home and home contents.

A BOP may not cover every risk that your business could face, but it will provide good, simple, and affordable coverage for many small businesses. Before you buy your policy make sure you understand what it covers, and also what it leaves out. You should also ask about the claims filing process since you will want very good service is you need to use your policy. Consider the coverage, ease of use, and the price. A good insurance agent should be able to offer you a variety of options, and he or she should be able to explain the advantages and disadvantages of each one.

Author: Marilyn Katz

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