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Home Insurance

• The 17 Perils
• Actual Cash Value vs. Replacement Cost
• Understanding Deductibles
• Documentation of Valuables
• Expanding Coverage
• Floaters for the Finer Things
• Flood Insurance
• Insuring a Home
• Liability Coverage
• The Basics of Homeowners Insurance
• Cover Yourself with an Umbrella Liability Policy
• Insuring a Condominium
• Special Circumstances: Property Under Construction and Rental Property
• Renters Insurance
Auto Insurance

• On the Move: Insurance Protection for Your Automobile and Other Vehicles
• Auto Insurance Basics: Liability, Collision, Comprehensive
• Additional and Optional Coverages
• Who's At Fault?
• Premiums and Discounts: Factors that Affect Your Rate
• What To Do After an Accident
• Getting Your Car Back
• Using Your Personal Car for Business
• Risky Drivers
• Adding a Teen or College-bound Driver
• Motorcycle Insurance
• Watch the Hull: Insurance for Boats and Other Watercraft
• Specialty Policies Insure Fun
• Aviation Insurance
Risk Management

• Term Life Insurance
• Whole Life Insurance
• Universal Life Insurance
• Variable Life Insurance
• Auto Insurance
• Insurance Claims
• Maximizing Insurance Benefits
• Protecting Your Home
• Assessing Disability Insurance
• Types of Health Care
• Additional Liability Coverage
• HMOs and PPOs
• Evaluating Insurance Companies
• Long-Term-Care Costs
• Medicare Coverage

Expanding Coverage

If you have special needs where your property is concerned, a standard homeowner's policy may not fit the bill. There are a number of ways that your coverage can be expanded to ensure your peace of mind.

In many cases, you can purchase additional coverage for your dwelling if you feel that the policy's limits are too low. Also, replacement cost coverage would allow you to insure the contents for full replacement value without a deduction for depreciation, but the regular deductible and policy limits still apply.

Homeowners that live in a high hazard area, or simply don't want to risk the financial ruin associated with a natural disaster, should consider purchasing flood or earthquake insurance. Flood insurance is a special policy available through a federal program, while earthquake coverage requires a separate endorsement or policy. Both are designed to protect homeowners from suffering a total loss, and usually have high deductibles.

Individuals that operate a professional office, studio, or private school out of their home may obtain a special business endorsement. A personal computer endorsement covers hardware or software used for personal or business activities.

Another type of endorsement would raise the limits protecting personal property such as jewelry, silverware, or watches. For especially valuable items, one can purchase a separate policy - often called a floater. These policies can be tailored to cover specific pieces of art, jewelry, guns, collectibles, or other valuable possessions.

Many of these expanded coverage options are available to condominium owners and renters, in addition to single-family homeowners.

Some insurers may also allow you to extend the liability section of a homeowner's, condominium, or renter's policy to cover other properties that you own, including rental properties or new homes under construction.

© 2003 Emerald Publications

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