Did you know that a regular home insurance policy The (fire document) can cover within certain limits jewelry, carpets, watches, cash, important papers, silver works, crystals and other valuables, for a modest sum of money?
If you own any of the aforementioned things, or are considering acquiring any of them in the future, we advise you to review insurance companies to obtain appropriate financial coverage for such holdings, knowing that all policies applied in insurance companies have certain exceptions with regard to compensation for some assets..
Always check the details of the insurance policy, and see what the insurance company compensates you for, and what is not covered by compensation, so that you make sure that the insurance policy includes furniture, clothing, jewelry, carpets, souvenirs, cash, documents, electronic devices and even mobile phones.
And always remember that every insurance company has a special definition of valuables, and that the type of home insurance offers a wide range of options, for example, some insurance contracts do not give the advantage of replacing things such as clothes and linens..
It is also important in the event that you own old collectibles or valuable household dishes, to consider obtaining the possibility of insurance for breakage accidents, since such an item is not included in most home insurance policies..
Another type of insurance on home possessions bears the name “new versus old”, which, as its name indicates, offers a new product as an alternative to that which is lost, damaged or stolen. However, the costs of this type of insurance are prohibitive..
The consumer can also choose the home insurance known as “compensation”, which is cheaper than the “new versus the old” type, but it differs from it because this insurance model provides an insurance solvency that takes into account and takes into account the decline in the value of the insured sample due to normal use and consumption.
But if you own a valuable and expensive piece of art, you should consult an expert evaluation, and inform the insurance company you have chosen of the true value of the artwork. It should be noted here that some insurance companies have a specialized team of people who undertake the task of evaluating the prices of artworks, and in this case it is preferable to use their expertise in the evaluation process..
It is also necessary to keep your insurance company in constant touch with developments in terms of valuable purchases you make, as any increase in the value of your property must be offset by an increase in the value of compensation .
And often insurance specialists cover valuables according to an amount of money agreed upon in the insurance policy, as such policies usually lack a mention of the percentage that you will bear from any claim, and therefore compensation begins with the first dollar of losses. These policies are based in their terms on the principle of “all risks”, which means that the covered losses include those resulting from various types of risks, except in the case of referring to and specifying the excluded risks, and the value of such a policy is high.
Cashy offers a number of tips to help you choose the best home insurance offers:
1) Identify your valuables, and provide the insurance company with this list, noting that this list should include a description and an assessment of the amount paid for each asset. Many insurance companies may refuse to evaluate the prices of jewelry except through well-known institutions specialized in the field of dealing with gold and precious metals.
2) You should also take into account the fate of new purchases and the possibility of adding and listing them alongside those items that you have already insured, and make sure that you understand the procedures to be taken to ensure that new purchases are covered in the insurance policy .
3) Keep photos or videos of valuables, as well as evaluation statements and purchase receipts, as you may need them in case you claim compensation, and these documents can be kept in the safe box of your bank account in the bank, or copy them and keep more than one electronic copy of them in more than one place
4) Install a security system in your home, raise the levels of protection in your residence, and keep jewelry and valuables in a safe place and out of sight, and if you choose to keep these belongings in a safe deposit box, it is a good way to save and reduce your payments to the insurance policy .
5) If there is a certain percentage of any claim for compensation that is not covered in the insurance policy, an increase in such percentage will reduce the insurance premiums incurred on the policy.
Do you have an insurance policy for your household items? Or does it depend on the good faith of those we mix with in society? Share your opinion in the comment box.
