ABCs of Homeowners Insurance ? Coverage C | Keating Agency, Inc.

Our journey down the ABCs of homeowners insurance coverages continues with the Letter C.

So far, we have discussed Coverage A ? Dwelling and Coverage B ? Other Structures.? If you noticed, those coverages pretty much covers the buildings, fences and garages you may have on your property.

Today we move into the ?stuff? that you own which is farm more complicated than you think.? No matter how confusing these coverages may seem, know that you can come to our blog to be educated and you can reach out to the Keating Agency at any time.

Coverage C ? Personal Property

Take a moment and visualize all the items in your closets, room, basement, attic, garage?you get the point, it?s a ton of ?stuff? and Coverage C ? Personal Property is the part of your homeowners insurance plan that protects it.

Put simply, think of items that you can pack up and take with you when you move and could include:

• Money, passport and other financial certificates
• A row boat and trailer
• Clothing, electronics like your TV, iPod, smartphone or tablet
• Silverware

Typically, the limit for Coverage B is 50% to 70% of the Coverage A amount on most homeowners policies.

Here are some facts and things to think about concerning Coverage C:

• Some ?classes? of property have defined limits that can be far short of your coverage needs.? You can explore endorsements to address these gaps or a Personal Package Policy.? Some limit examples, which can vary by carrier, are:
  • $1,500 for loss by theft of jewelry, watches, precious stones
  • $200 for loss of money
  • $1,500 for loss of watercraft and trailer
• Loss of jewelry such as a wedding or engagement ring IS NOT COVERED for loss by owner in a standard policy.? We strongly suggest you get you jewelry ?scheduled? giving full coverage to an appraised amount, world-wide coverage including loss and you are not subject to your insurance deductible.
• Many people underestimate the amount of their possessions, so our office recommends doing an online Personal Property Wizard to make sure your Coverage C limit does not fall short.

We hope you can appreciate how much goes into Coverage C and why it?s important that you understand it may not be enough depending on the Coverage A amount and type of policy.

What if you have a large art collection or have inherited some family heirlooms?? What should you do?? Relax, that?s where you can count on the Keating Agency to share out 40+ years of being an independent insurance agency.

As your trusted advisor we?ll find the right mix of options for your personal situation and make sure you understand how you will be protected.? You cannot eliminate all the risks in life 100%, but we can put together a plan that will reduce it as much as possible for the best possible premium value.

We are here for you and if you have any specific questions on Coverage A, B, C or any other insurance topic, let us know so we can share with our readers.

Prudent Planning = Peace of Mind
Call 860.521.1420 for Both!

You can also share your thoughts and questions with Mike and the Keating Agency on Facebook and Twitter

Source: http://blog.keatinginsurance.com/2013/03/abcs-of-homeowners-insurance-coverage-c/

Jeff Gordon Test Drive Tamar Braxton Veronica Mars