Will my personal things be protected with property insurance?

How do I know that my personal things are protected with property insurance?

So you are loyally paying your renters insurance and home insurance premiums religiously for years. Thankfully you haven’t needed to file a claim yet.

But what if you needed to do so tomorrow… Would you be covered like you would hope to be?

It all depends on what kind of riders you have added to your policy.

Your Atlanta home insurance company offer “riders” that can be added to your policy to provide additional coverage.  For example here are two riders that you can select:

  • Actual Cash Value: The coverage will pay out on what the property  is worth at the time of the loss.  As you can imagine  this takes into consideration depreciation of the item based on  the Age of the item,  market value and the condition of the property at the time of loss or damage. In other words a $1,000 TV when new might only be worth $150 now after a few years of use.
  • Replacement Cost: This coverage will write you a check (minus the deductible) for what it would cost to REPLACE the item and buy you a new one if damaged or destroyed. It ignores depreciation completely.

Click here to read the rest of the article to see what Clark Howard suggests…

Lloyd Pro Group and Nationwide insurance have been providing free home insurance quotes in Atlanta since 1985.

They can be reached at (770) 497-1200

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Published in: on April 6, 2015 at 8:47 pm  Leave a Comment  

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