I have no idea how much cover would be needed for it all, including tv's, computers, kids toys, furnishings etc. Its not a rundown area but its not the best either. I know of someone that lost everything in a fire recently and it really makes you think. Please can someone advise.
2006-12-27 08:40:22 · 10 answers · asked by yo_chick 2 in Business & Finance ➔ Insurance
If you're a home owner, then you should have had a mortgage insurance. If you're renting, you should consider what will it cost you to replace everything you have in your home in today's market. Most people usually buy $20,000 renter's insurance to cover everything. This would be enough for most people.
2006-12-27 09:11:57 · answer #1 · answered by stiletto 4 · 0⤊ 1⤋
OK, if the whole thing burned to the ground, and you lost everything, how much would you be happy with??? It's impossible for someone ELSE to guess how much "stuff" you have, and not very fair to ask them.
Minimum limits are usually $20,000, to just issue the policy. Could you buy it all for $50,000? $100,000? The area is irrelevant, if you're only buying insurance for the contents. For the building, you need enough insurance to rebuild it.
Your best bet is to call a local agent, have them come out, and help you establish values.
2006-12-28 10:12:00 · answer #2 · answered by Anonymous 7 · 0⤊ 0⤋
(Assuming you are British) Try insuring with 'MoreThan' - they give you cover arranged by the number of bedrooms you have, you are unlikely to be underinsured then (if you underestimate the replacement value of your contents then insurers will reduce the amount of a payout in the event of a claim - this is called 'average'). I got a quote recently and the price was pretty much the same as my existing insurer.
Don't listen to people who say don't insure - you cannot afford not have insurance. And if you get a big dog and it bites/kills someone you could get taken to court and you may have to pay damages (your home insurance would cover this)
2006-12-28 11:19:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Almost always more than you are insured for.
Fires do happen even to the most careful of people. My friend gives fire safety advice as part of his job ( in insurance) then left the chip pan on answering the front door. The rest is history and now part of his lectures. The good news is that he was properly insured.
2006-12-28 07:18:03 · answer #4 · answered by jewelking_2000 5 · 0⤊ 0⤋
Do your own "insurance", each year put a few hundred quid into a savings account, it will soon mount up to cover little accidents. In my experience, insurance companies offer a legalised fraud service, there will always be a clause to contradict what you believe you have bought. Fire, flood and other acts of god are very, very rare.
My insurance? A bloody big dog who is trained to know that neighbours are family and will greet them as long lost friends. Result? No (unwanted) strangers, no chav kids, so no vandalism. Burglers? IF they get into my house, they won't get out. Minimal outlay, Maximum return
2006-12-27 17:48:59 · answer #5 · answered by Anonymous · 0⤊ 1⤋
You should consider what you are willing to pay for and how much it would cost to replace your belongings. Making a list of atleast the biggest items you have and an inventory of your clothing and shoes how much they cost you would give you an Idea. I have my belongings insured at $50,000.00 for 5 family members including my self. So we can atleast get clothing, furniture, dining room set, and kitchen ware.
2006-12-27 20:47:16 · answer #6 · answered by vruiz16 2 · 0⤊ 0⤋
it really depends on what you own. if you own your home and have home owners insurance you automatically get a percentage of coverage for personal property. if you rent its up to you to deicde. how many people live in the home? if you have kids it is of course more that you will need. to give you an idea, i am a single parent with an 18 yr old. i rent and carry 40,000 in property coverage. it cost me about 200.00 per yr. call an independent agent as they have more companies to check with for the best coverage and rates.
2006-12-27 18:58:16 · answer #7 · answered by Queen B 6 · 0⤊ 0⤋
And I'm sure the last posters 'bloody big dog' will race to put out a fire or repair a burst pipe.
Great dog, that.
2006-12-27 17:56:57 · answer #8 · answered by Anonymous · 0⤊ 0⤋
go for the quote you know you can afford, better to be safe than sorry
2006-12-27 16:50:26 · answer #9 · answered by mishnbong 6 · 0⤊ 0⤋
About £30,000
2006-12-27 17:13:18 · answer #10 · answered by Angry short bloke 2 · 0⤊ 1⤋