Do You Need Coverage for Antique and Vintage Collections?

Antiques and vintage collections are fast becoming popular. Aside from being great home interior pieces, these timeless pieces are also great investments. Unlike other assets, antique pieces get pricier as they age.

Almost every household will have a special collection of antiques or heirlooms. Probably you have a collection of intricate jewelries or perfectly carved furniture items, as if they were done with high quality wood router. Considering their price or market value, it’s difficult to imagine if anything bad happens to these priceless belongings. Unfortunately, not all home insurance cover loss or damage of these hard-to-replace valuables. So, if you have a collection of priceless belongings it is best to check with your insurance agent whether your policy covers loss of antique items.

One of the misconceptions is that regular homeowners insurance covers all high value items such as collectibles, vintage, antiques, and family heirlooms. In most of these policies, the coverage is very limited and is often not even enough to cover the actual price of the lost item. For instance, some policies may put a cap of $3,000 for antiques, collectibles and art. If you’re a serial vintage collector, then this meager coverage is definitely not enough to cover your collection’s actual value.

If you think you need additional, specific coverage for these belongings, you can either work with your insurer so that you can add a rider to your current homeowner insurance policy for items that are valued over the standard coverage of your home policy OR you can also take out a different insurance floater for every vintage collection you have in your home.  Talk with your agent to see which approach will benefit you most.

Some people aren’t sure whether they really need to take out a collectible insurance. Here let’s take a look at some scenarios where a collectible insurance could save you:

  • Your vintage furniture pieces gets destroyed by fire
  • Fine art pieces get stolen
  • Autographed memorabilia get drenched in flood water
  • Delicate figurine pieces breaks after an earthquake
  • Catastrophe damages your wine collection

These are just a few unwarranted scenarios where you could lose your prized belongings. Since these possessions are valued in the thousands or may have special connections with your family, it is just wise to protect them by taking out the right insurance policies. An insurance will give you peace of mind while knowing that your treasured possessions are protected from sudden loss.

A lot of vintage and antique collectors are unsure about the worth of their collections. And this is the reason why many do not bother to take out specific insurance. It would be helpful to have your vintage items, collectibles and antiques appraised every now and them. An antiques appraiser can help you determine the worth of your items so you can get the right insurance protection you need.

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Is Your Garden Insured?

Oct 23, 15 Is Your Garden Insured?

Many homeowners don’t realize how much money they spend on their garden. If you just consider the value of your ornaments, plants and most especially outdoor garden equipment, you’d be dumbfounded at how much your garden really costs.

There are a lot of pricey garden equipment and tools which are often an easy target for burglars – garden tractors, lawnmowers, barbecue grill and even pots.

According to GardenTractorReport.com, a review site for garden tractors, an ordinary garden tractor costs around three grand. That’s a huge amount and you definitely want it covered. Further, the garden is also prone to damage from both natural and man-made causes.

But have you ever asked your insurer whether your garden and its items are covered in case of theft or destruction?

While most home insurance policies do cover the garden, the level and amount of coverage often varies – so it’s important to discuss it with your insurer. This is especially true if you are a garden-lover and have spent a huge amount on garden improvements, tool and equipment.

The basic garden toolkit is worth an average of $250 with greenhouses, sheds and patio furniture the priciest items. Most American home gardens will also have barbecue grill, garden ornaments, a lawnmower, children’s toys scattered around the garden, plants and seeds. On average, our “outside rooms” cost around $1,000 to $5,000.

lovely little gardenStandard home policy normally covers damage to fixtures and fittings which include outbuildings, walls, patios, gates, sheds, and fences in your garden.

However, most insurance policies do not cover damage or loss of movable objects; this means, lawnmowers garden, furniture and other items found in your garden are likely not covered. Many assume that these garden items are covered by their insurance only to find out that they are not.

Some policies cover contents of your garage and shed as long as they are kept locked. The problem is that many homeowners undervalue the contents of these outbuildings, much like they do with the contents of their home, thus they often don’t get any claim in case of loss. If you have spent so much on your garden, be realistic when placing the value of your space to avoid being frustrated later on.

Remember that the garden is a target of burglars and also prone to damage. If you are a garden lover, it is best to ask your insurance agent if the policy has specific provisions for garden “contents in the open”. Ask if the policy has exclusions such as expensive plants, pots or damages to plants. Know if your garden is covered in case of damages due to flood or storm.

Many of homeowners just enjoy the beauty of their “outdoor rooms” but do not really keep them covered. If you have spent so much improving your garden, perhaps it is time to have your investment fully covered. Go ahead and talk with your insurer.

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What Does Your Policy Cover in Regards to Water Damage?

Oct 03, 15 What Does Your Policy Cover in Regards to Water Damage?

Water damage is a serious issue that is always associated with costly repairs. Therefore, it’s imperative to make sure that your insurance policy covers it. However, you also need to understand that there are different types of water damage and determine which exactly are included in the policy. This way, you will be able to find an insurance plan that offers the best protection in regards to this particular issue.

In general, basic insurance policies usually cover water damage caused by one of the following reasons:

  • Rupture of your heating system
  • Rupture of your sprinkling system
  • Rupture of your plumbing system
  • Rupture of your air conditioning system
  • Escape of water from aquariums, waterbeds, and appliances
  • Escape of water from the public watermain

Do note, however, that any insurance policy covers only the result of the damage, not its cause. Therefore, you will be the one to pay for plumbing or other necessary repairs. Therefore, it really pays to invest into various devices that reduce the risk of water damage. A water softener is one of the tools that can help you protect your home from this disaster.

If you don’t know much about these devices, visit Poolhomeschool. This website contains a lot of helpful information about the benefits of water softeners, the damage dealt by hard water to your plumbing and various appliances, and detailed reviews of various softeners available on the market. Installing one of these devices is a wise decision even despite the fact that this tool will not be able to provide you with a 100% guarantee against water damage. The main reason for this is the fact that hard water can have a negative effect on your health. It often causes rash, hair loss, and other similar conditions. Their treatment definitely won’t be covered by your health insurance.

What to Do Before Contacting Your Insurance Company about Water Damage

Prevention is good, but sometimes it’s not enough. In case an incident occurs and your property does get damaged by water, you will need to take several very specific steps to facilitate claiming compensation.

  1. Shut off all the interior water sources on the property.
  2. Be careful to stay away from any electrical appliances and switches.
    Do not turn on the lights before a professional electrician checks your system to determine whether it was damaged as well.
  3. Stay away from the areas that are at risk of collapsing (water-soaked ceilings and floors).
  4. If your ceiling developed bubbles, puncture them to release excess water.
    Put a bucket under the bubble beforehand so that you don’t add to the floor damage.
  5. Move whatever precious items you can to dry areas.
  6. Stay away from the items damaged by sewer backup.
  7. Do your best to remove excess water from wood, upholstery, and other surfaces that are susceptible to the damage from this element.
  8. Compile a list of damaged, destroyed, and lost items.

Contact your insurance company after you complete the actions listed above, or at least as many of them as you can. Provide the insurance agent with a detailed inventory and follow the instructions from your policy for claiming compensation.

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Individual Insurance In the Shooting With a Crossbow

Sep 04, 15 Individual Insurance In the Shooting With a Crossbow

If you have a club specialized in shooting from the crossbow, or you are just a member of such a club, then you should consider a policy of insurance to cover possible accidents. Crossbow shooting is considered as a risky sport and this is obviously one of the reasons why you have to open four eyes when you choose an insurance for your team or for yourself.

Some shooting insurance does not cover accidents that may occur as a result crossbowing. But if you choose the right insurance, you can cover all possible situations with one policy – those relating to people, as well as those on the equipment. At the same time, you can enjoy all forms of archery, without being limited to a specific weapon.

Why is it good to choose individual insurance for crossbow shooting?

As in any sport, especially those involving the use of weapons, accidents can happen. If you choose a good coach and the proper model of the crossbow, if you take all the precautions, the chances for accidents are small. However, insurances serve to cover those small probabilities and secure compensation.

When shooting with a crossbow and other forms of archery is concerned, you should bear in mind that the incident with a weapon may not happen only outside, during the shooting. It can happen at home, where you hold your weapon. Many shooters lose from the sight this fact when it comes to insurance, partly because they believe that home insurance cover this type of accident. When you purchase a special shooting insurance policy, you will be insured inside and outside your home.

There are group insurance policies that are available for clubs and associations. However, you do not need to be a member of an association to cover crossbow shooting with an insurance policy. There are also individual insurances that can cover the crossbow shooters and crossbow coaches.

You can customize individual insurance policies for your needs. Investment in the shooting equipment is not small. If anything happens to your arms during transport, use, or in any other way, good individual insurance for shooters will cover it. Of course, there is not only a risk for your weapon, but for shooters too. One careless move can be dangerous to the shooter or for someone else.

Crossbow coaches are exposed to greater risk because they work with people who are not yet aware of all the wrong moves they can make. Although trained for work, coaches still need to purchase an insurance policy. There are individual insurance policies for coaches that cover injuries, loss of earnings due to the inability to go to work, and the equipment used during training.

There are many ways that something goes wrong during practice shooting with a crossbow – from poorly prepared weapons, coaches mistakes, mistakes of students. A good shooting insurance costs less than equipment, and it can allow you to enjoy dealing with a crossbow training safely.

Besides individual insurance policies, there are those that are available on the club or association level. You should always be careful because they are not all insurance companies willing to cover all types of shooting. Group insurance is good, but individual insurance is better and the only safe option.

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Insuring Your Aquarium and Its Contents

Jun 17, 15 Insuring Your Aquarium and Its Contents

Fish and other aquatic critters make for pets which are extremely low maintenance. They don’t need regular walks, they get enough exercise just swimming around every day as things are, and as long as they have enough food and oxygenated water to breathe through their gills, they’re going to be pretty happy. Well, as happy as fish can be anyhow, considering the fact they forget everything they know every few seconds. Despite the fact fish are so easy to own and care for though, they can also be some of the most expensive choices for pets on the market. Because of this, insurance is never a bad idea.

Exotic fish come in a wide variety of colors with radiant blues, reds, yellows and other bright, bold hues that make them attractive centerpieces in a home, as well as great ways to start up conversations with guests who may be visiting. They’re also incredibly expensive due to importing fees, tariffs and the fact that not every fish taken from a native location and moved into a market environment will survive the transition. Even domestic or common kinds of fish can be costly, which should be a sign as to how much more expensive fish from farther away could be. Take a warning from this.

Some fish are rather picky too when it comes to the kinds of environments they can survive in. Make the water even a few degrees too warm or cold, don’t pump enough oxygen into the tank or let the filtration system kick off for a time and you could end up with some very expensive, very dead fish. This is ultimately why you should insure your aquarium and its contents if you’ve put a great deal of money into the lot. If you just have a simple tank loaded with guppies, goldfish or other common and cheap fish, there’s no need to worry about this. But what if you spent thousands of dollars on an aquarium?

Like anything else, an ounce of prevention is worth a pound of cure, so to speak. If you’re going to go through the hassle and expense of insuring an aquarium of fish valued at several thousand dollars, then it should be a small thing to make sure you have the proper equipment installed as well. A decent air pump along with a canister filter or other, smaller filtration system depending on the size of your setup is a good start. You might also consider securing a backup energy source specifically for your tank, so everything will keep running and your fish will keep living in the event of a power outage.

The value of a tank full of fish and the need to insure such a thing have both been made clear here. As to what company you might find to insure your tank of fish, you will need to do some searching for that. Any company that offers pet insurance would be a nice place to start, but you’ll want to be sure the policy you purchase covers aquatic life and that there are no stipulations for exotic aquatic life specifically which would indemnify the insurer in case you make a claim.

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Guide on insuring your Kayak

Guide on insuring your Kayak-Insurance cover for water-based activities is difficult. Finding an insurance company that provides good cover is therefore necessary. The insurance should be at affordable rates and easy to apply and claim. While paddling may be fun filled and entertaining and does not involve any major risks, accidents can happen including injury to paddler, kayak or the equipment, and the kayak may be stolen, lost or damaged.

Most often people who own kayaks wonder on the insurance cover they can provide for the kayak. The insurance is needed for the gear involved in kayaking and in case of theft. While it is easier to choose a kayak from the different varieties offered, choosing the right insurance needs proper perusal of the various factors. Here are some tips on insuring a kayak.

Insurance cost

The homeowner’s insurance policy usually covers watercraft and the related accessories to about $1,000 to $1,500. The watercraft covered includes rowboats, sailboats, kayaks and canoes. While outboard and inboard watercrafts are mostly excluded from the standard policy, property loss cover for kayaks, sailboats and canoes at 26 feet or below are covered. Even if you borrow a friend’s kayak and incur losses, your homeowner’s insurance covers it fully.

Coverage considerations

Usually personal property loss in case of kayak occurs, when you are away from your home. The standard homeowner policy covers losses on your kayak irrespective of where is it present. An exception to this rule is, when you own a second residence like vacation cabin or summer home.

For kayaks which are very expensive and will not get adequate cover with the $1,500 insurance protection it needs to be itemized as scheduled watercraft, under which the amount covered will be assessed based on the cost of the kayak or on valued basis. Valued basis is the term used to denote the appropriate value arrived upon by the insurer and policyholder for the item to be insured. Fine arts and jewelry too come under this category. For expensive kayaks, a separate scheduled insurance may be needed with additional premium paid for it.

Accident or damage covered

Most often homeowner’s insurance policy covers property against the perils listed in the agreement and this includes incidents like explosion, lightening, fire, theft and physical damage. Ice, nuclear hazard, war and water backup are few perils that are excluded in most of the policies. You need to read your policy thoroughly for the perils listed or contact your agent regarding any additional cover you may need.

Insurance claim

The amount of money provided for your insurance claim depends mostly on the conditions agreed to in the insurance contract including the valued amount and deductibles. If the loss is deemed as a reasonable one, the company will award the valued amount from which the deductible is reduced. For instance, if you file a claim via your insurance company when your kayak is stolen, the value is based on the cost of kayak, while purchasing it. If your insurance policy has a deductible of $50 for an incident and the cost of kayak was $3,500, the company will pay you $3450 indemnity.

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