House contents insurance is something every homeowner should have. This is an insurance policy that can be taken out to insure the items you have built up over the years in your home in case they should be destroyed, damaged or stolen. In general anything that you could pick up and take with you would be covered in this type of policy but you do have to check the terms and conditions as the exclusions will vary from provider to provider.

One of the best ways to check out several policies for the best deal and the lowest cost is with a specialist broker. They will search online for the lowest priced policies and then you are able to compare them. All policies should come with the key facts and the information needed to be able to determine what is and is not included in a policy.

The premium you will pay for the insurance will be worked out by how much in total your home contents are worth. If you under insure when setting this figure you would lose out in the eventuality that all your contents were destroyed, say in a fire. However if you over insure then you will be paying out more than you need to for your policy as this figure is taken into account when setting the premium.

To work out how much your contents are worth you need to go around your home and add everything up. It can be surprising when you start totaling all the little things up how much this comes to. You should not forget to count such items as those in the kitchen cupboards such as cutlery, utensils e.t.c and also the contents of the wardrobe, all of these items count and add up. Of course items such as TV, computer and games machines should be covered, but sometime a policy might state that these are only covered up to a certain amount. Home office equipment if you work from home will not usually be covered. Always check for this in the terms and conditions of the cover before taking it on and if you are insure about whether something would be included in the policy then ask.

When taking out house contents insurance you need to know what cover you are taking, you can generally choose to insure against wear and tear or take a new for old policy. A new for old policy means that you would get the value of what the items are today if you should have to replace them, not what they were worth. Whereas wear and tear would take depreciation into account.

If you have valuables in your home such as expensive jewelery, collections or paintings then you will probably have to insure these under a separate policy. Any items over a certain amount of money are generally excluded from a general house contents insurance policy unless you have specifically told the insurance company about them. The majority of policies will payout due to fire, theft, flood damage or vandalism but again always check the small print to ensure that the policy you are considering does.

By David Thomson

David Thomson is Chief Executive of BestDealInsurance an independent specialist broker dedicated to providing their clients with the best insurance deal on their home insurance, car and life insurance.

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

Flood Insurance Claim Filing Steps

The claim filing steps to take according to US national flood insurance program are:

1.) CONTACT THE INSURER
In the incident of a flood, call your agent or insurance company promptly. When you call, be prepared. You will need following:
a. Your insurance company’s name and claim phone number (or your agent’s number);
b. Your policy number; and
c. A telephone and/or email address where you can be reached.
After your call, a claims adjuster will be assigned to you. This person will assist you with the evaluation of your loss. He/she will also help file your flood insurance claim.

If you will have to go to a shelter or otherwise will be out of reach, offer your agent a trusted point-of-contact, such as a friend or relative who can reach you if necessary. Contact your insurance agent or company again, if an adjuster has not been assigned to you within a few days of your phone call.

2.) SORT & RECORD
When you are allowed back to your home or commercial site, you can start separating your damaged from undamaged property. Realize it’s not yet ‘cleaning up’ time, but ‘recording’ time. Tips:
a. Photograph and videotape everything—from structural damage and floodwater levels on building exteriors to building interiors and contents—to help prepare documentation of what the flooding damaged.
b. Do not throw out damaged property before your adjuster has seen it unless it may be a health hazard or could impede local cleanup.
c. If objects must be discarded, take photos and keep samples (fabric swatches, pieces of furniture, etc.) to help substantiate your claim.
d. Photograph standing water, both outside and inside your home or business.

3.) ITEMIZE THE DAMAGE
There are really two steps here:
a. The first step is to make a list of all damaged or lost items.
b. The second step is to work alongside your claims adjuster. You are itemizing your claim, and calculating the value of the destroyed items by applying your detailed inventory against your damaged or lost property.

Flood Insurance Preparation Tip
Ideally, before there is any drama, e.g. when you are taking out or renewing your insurance annually, you have created a personalized “flood file” . This flood file is to contain a copy of your insurance policy with the contact information for your agent or insurance company; a complete inventory of the possessions in your home or business on a room-by-room basis. Describe each item and include serial numbers, model numbers, date of purchase, and receipts; photos or videos of your possessions; plus copies of other important papers.

Hopefully you have safely stored your flood file in a secure place, i.e. away from the property you are insuring, typically in a safety deposit box.

4.) FILING YOUR CLAIM
Timing matters! File your official claim for damages within 60 days of the flood. Your signed, sworn statement, called Proof of Loss, substantiates the insurance claim. This official document is required for the National Flood Insurance Program (NFIP) or insurance company to be able to make payment.

Steps:
a. Your adjuster should provide you with the insurance claim form. However, it is your responsibility to provide your insurance company with a signed Proof of Loss within 60-days of the date of loss.

b. You must include a detailed estimate to replace or repair the damaged property. You can obtain this estimate from your insurance claims adjuster. You should both come to an agreement about the scope of damage and what needs to be repaired or replaced.

c. Your claim is payable after you and the insurer agree on the amount of damages and the insurer receives your complete, accurate and signed Proof of Loss.

If major catastrophic flooding occurs, it may take longer to process claims and make payments because of the sheer number of claims submitted.

Stay covered & renew your policy annually.

source: The US national flood insurance program at Floodsmart.gov

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

Weddings are major investments. I am not referring to the emotional investments in the relationship of the soon-to-be-wed couples. I mean: the financial investments of the wedding affairs. US wedding price tags average $20,000 and beyond. As wedding affairs involve such significant investments, securing these investments by taking out wedding insurance seems warranted.

At weddings, the love and the finances of families come together to celebrate the love and trust in the future of couples. Inspired by culture and affluence, weddings can be amazingly dazzling in detail and ritual. The more extravaganza desired, the more planning and management required so that everything will go smoothly.

Even if you’re not planning a lavish wedding affair, wedding planning is required. And with wedding planning comes wedding insurance to protect your wedding expenses. This is simply a smart idea. Wedding insurance protects against the wedding being canceled, postponed, and other unfortunate, unforeseen circumstances.

As weddings are so individual in nature and can vary so dramatically, wedding insurance is very flexible in terms of what it covers. It seems that you can get coverage for everything, but usually not ‘wet feet’ or ‘a change of heart’ – although some do! Anyhow, here is the list of the most common coverage of wedding insurance:

1. Your wedding gown – attire.
A common claim for wedding insurance is bridal firms going out of business, leaving you without a dress for the day. You will want to ensure against this. Insurance also covers a lost or damaged dress. Jewelry is considered separate from the ‘wedding attire’. Look for additional insurance coverage to replace or repair damaged wedding rings and other bridal jewelry.

2. Sickness, injury (or death) of bride or groom, and family attending the wedding.
This is a very relevant insurance, particularly if the bride or groom-to-be wants to go on a snowboarding trip just prior to their wedding…

3. Liability & injury of bride, groom, wedding party and attendants at the wedding.
Some venues will require it and only host your event when you take out liability insurance. When any of your guests gets injured, medical expenses can be covered. When you or a guest cause damage to property, say DJ equipment or venue furniture, for example, those expenses can be covered as well.

4. No-shows of wedding party, officiants and wedding planner.
Of course, some of these are optional. Not everyone has a wedding planner. However, if you have a huge wedding party with planner and all, be sure to tick this box on the insurance form and get it covered.

5. Ceremony & reception venue, caterers and other vendor issues.
This is a section on your wedding insurance policy form that you must tick also. But, it is common to obtain a copy of your vendor’s insurance policy first, to avoid insurance coverage overlap and identify where you are not fully insured.

What could go wrong? Think of caterers going bankrupt, cars with flat tired unable to make deliveries or resulting in (too) late deliveries, lost wedding favors, incomplete service from venue personnel, human error, and other possible misfortune. Besides covering for damage caused by service providers who fell short in providing their contracted product or service, it can also cover non-refundable deposits plus the extra expenses to find new supplier. Some wedding insurance policies cover potential legal costs. Note that your wedding insurance can cover unforeseen expenses also beyond vendor-caused issues.

6. Transport
This would include the limousine and other car hires to transport the wedding couple plus guests to and from the ceremony and reception. If you are planning a destination wedding, do include complete travel insurance. Specifically, make sure you have in writing that your dress is covered when traveling!

7. Photography/videography
Typically couples insure against no-shows of wedding photographers and/or videographers. Usually wedding photography insurance also protects against photographs/video being defective or damaged, negatives being lost, and more. The coverage will help fund a potentially costly reunion of those in the wedding party to have new photos taken.

8. Stolen or lost (sent) gifts.
Gift coverage seems to commonly included in wedding insurance. For destination weddings: check if your travel insurance will cover gift transport. But as a practical note: wedding gifts traditionally were delivered to the wedding couple and not brought to receptions. So, why not arrange for the wedding gifts to stay in your home country and arrange for their delivery when you’re back from your wedding?

9 . Weather on the wedding day and honeymoon.
The last thing you want is a torrential rain storm causing a power outage in the area of where church and reception is located, so that the wedding simply can’t go ahead on the day planned. While gloomy days are typically not covered in wedding insurance, natural disasters such as tropical storms, hurricanes, snow storms with airports closed, are.

10. Honeymoon.
This is typically a travel insurance policy to be taken out in addition to your base wedding insurance.

11.Other circumstances that may affect the wedding and cost.
Every wedding is unique and may have unique aspects that you may need to insure. A wedding on a yacht is completely different from a destination wedding or a back garden family affair. For example, in case of the garden wedding, if you are hiring a wedding marque, you might need to ensure this.

In Conclusion

When you consider that any of these wedding components and realize that any of a million different details may put your wedding at risk, wedding insurance can give you this calm sense that things are under control ‘no matter what’.

Dependent on the amount and type of coverage you need, and of course, where you live, wedding insurance can range from several hundred dollars to about $1000. Compare that to a $20-30,000 wedding investment that you stand to lose, and you will realize that wedding insurance makes sense.

To be well-covered without too much ado, simply begin looking for wedding insurance when you begin your wedding planning. Choose a competent wedding insurance agent who can inform you and work with you. No matter how nice this person is: actually ** read ** your insurance policy to ensure it meets your needs, before you sign.

Enjoy your perfect(ly insured) wedding!

copyright Van Dorst 2008

20% off All Fine Jewelry at Netaya – Use Coupon Code: AFM2

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

Natural and unnatural disasters affect everyone. Some areas of the United States are so prone to natural disturbances that many private insurance companies will not offer coverage. For example, most homeowners insurance will not cover damage caused by floods or earthquakes, and few will cover forest fires if your property is in an undeveloped area.

When evaluating what kind of insurance coverage you need, consider what your current policy covers, any inexpensive additions (or endorsements) to your active policy and your location related to the risk of natural disaster.

There are many types of disasters to consider, including natural disasters like floods, earthquakes, forest fires, tornadoes and hurricanes. Unnatural disasters include war, nuclear accidents, civil disobedience and terrorism.

NATURAL DISASTERS

Floods

Who is at risk? Everyone. Any area can experience an unusually wet season and the wastewater management systems of most cities do not have the means to control a rapid increase of water in paved areas. Generally, if your property lies near a body of water or in an area prone to hurricanes or flash floods the National Flood Insurance Program (NFIP) considers you to be at a high risk.

To determine the level of risk in your area: Visit http://www.floodsmart.com, sponsored by the NFIP, to see floodplain maps and search by zip code the flood risk of a specific area.

Insurance: Traditional homeowners insurance does not cover flooding. Many lenders require flood insurance if the property is located in a high-risk area. Private agencies do not provide flood insurance; flood insurance is available through the NFIP, who is under FEMA and the Department of Homeland Security. Information about this insurance program is available at the NFIP website or through an insurance quote service. Flood insurance offered by the NFIP usually also covers flooding caused by hurricanes, rivers and tidal waves if two acres or two adjacent properties are affected. Water damage from broken pipes, backed-up sewers and from fire hoses is usually covered by standard insurance.

Earthquakes

Who is at risk? In the United States, the most active areas are along the Pacific Ocean including Alaska, Hawaii, California, Oregon and Washington. Inland areas of activity include Nevada, Utah, Idaho, Wyoming, and a small area between the three connecting corners of Arkansas, Tennessee and Missouri.

To determine the level of risk in your area: The United States Geological Society Earthquakes Hazards Program hosts maps at http://wwwneic.cr.usgs.gov/neis/epic/epic_circ.html that are updated by the hour for the entire planet. Residents of California can go to http://www.quake.abag.ca.gov to view an interactive shaking and liquefaction map.

Insurance: Earthquake endorsements can be added to most insurance policies purchased through a private agency. In California, residents can purchase earthquake insurance through the California Earthquake Authority. The probability of an earthquake, your location, soil type and building structure determine premiums. Deductibles on earthquake insurance are typically very high, often up to 10 to 15 percent of the building’s structural limit. Damage caused by broken gas lines or water pipes as a result of an earthquake typically may be covered by standard insurance. Earthquake damage to vehicles is covered by comprehensive insurance. Liquefaction can cause water damage by mud and standing water resulting from an earthquake. Consult your policy to determine whether your earthquake endorsement or other additions cover this type of phenomenon.

Forest Fires

Who is at Risk? Properties in wooded or dry grassland areas or located far from fire stations are considered at risk.

To determine the level of risk in your area: The National Interagency Fire Center publishes current fire maps at http://www.nifc.gov/firemaps.html.

Insurance: It is quite common for insurance companies to refuse coverage for properties in wooded areas or far from fire stations. Fortunately, unless you are in certain high-risk areas, many agencies will offer coverage or endorsements. Some policies offer benefits to help clean smoke damage and cover accidental fires or lightening fires in developed areas. Many insurance companies will extend discounts if preventative products are in place, including fire alarms or sprinklers, fire extinguishers and fire-resistant roofs.

Tornadoes

Who is at Risk? Tornadoes are most common in the states located east of the Rockies. However, they occasionally do occur in other areas.

To determine the level of risk in your area: The National Climatic Data Center tracks severe weather. To view maps and historical information related to tornadoes visit http://www.ncdc.noaa.gov/oa/climate/severeweather/tornadoes.html.

Insurance: Coverage for this type of disaster is usually available through a standard insurance policy. Most policies will also cover structural damage from hail that quite often accompanies this type of weather. Damage to trees and landscaping is not usually covered unless an addition is purchased.

Hurricanes

Who is at Risk? Hurricanes occur most often over and near the Atlantic Ocean, Gulf of Mexico, Indian Ocean, Caribbean Sea and Pacific Ocean. In the United States areas surrounding the Gulf of Mexico and along the eastern coastlines of Florida to Maine are particularly prone to this type of severe weather.

To determine the level of risk in your area: View hurricane maps published by the National Climatic Data Center at http://www.ncdc.noaa.gov/oa/climate/severeweather/hurricanes.html.

Insurance: Many standard insurance policies will cover damages covered by wind but not by flooding. Flood insurance must be purchased through the National Flood Insurance Program.

UNNATURAL DISASTERS

War

Damage to property from war activity, due to modern technology, could potentially happen anywhere. Most insurance policies will not cover losses caused by a war.

Nuclear Accidents

If a nearby power plant irradiates your property, insurance will generally not cover damages. However, it may help to express liability concerns to the owners of the plant. Before purchasing a property, you may want to visit the US Nuclear Regulatory Commission website at http://www.nrc.gov to discover if an active plant is located in the area.

Civil Disobedience

Civil disobedience usually refers to a riot or other civil commotion. Standard insurance will generally cover damages resulting from a riot, unless you were actively involved. If your property is broken into and items are stolen or vandalized, most insurance policies will cover the cost of repairs and replace stolen items. However, in order to receive the full value of lost items you may have to purchase “replacement cost coverage.”

Terrorism

On November 26, 2002, President Bush signed the Terrorism Risk Insurance Act, which stated that private insurers and the federal government share the risk of losses attributed to terrorism. The act also rescinded state exclusions for terrorism. This act was set for a three-year period; check in your state to find out how your state currently enforces coverage for acts of terrorism. Additionally, evaluate your particular insurance policy to see what benefits you may receive if an act of terrorism affects your property.

Additional Considerations:

• Homeowners may want to consider, regardless of location, Additional Living Expenses (ALE), which is a benefit that will reimburse up to 10-20% of the structural coverage of your home to help with temporary living expenses.
• Business owners may want to consider purchasing ‘contingent business interruption’ or ‘contingent business income’ coverage that can help cover profit loss or extra expenses that occur as a direct result of interruption of supply due to events outside the businesses control. This type of coverage could be beneficial if your main supplier or customer is located in an affected area.
• Landslides often are not caused by earthquakes or flooding. This unique kind of earth movement falls into a commonly undefined area of coverage; consult your policy to see if your insurance covers this type of occurrence.
• Standard insurance may cover some natural disasters, such as damage from windstorms, hail, lightning and volcanic eruptions.
• Even if you purchase complete coverage, relief does not come instantly. With this in mind, it is a good idea to keep on hand food, water, cash, a battery operated radio, first-aid supplies and protection from the elements to last at least three to four days.
• Document your belongings well. Keep an accurate and up-to-date copy of your records and policies off the premises in a safe place.

In Summary

Once you’ve determined what the risks are in your area carefully review your policies. Keep in mind that policies may offer different levels of benefits with regards to property. Evaluate coverage in terms of the structure and content of a building, the outer buildings such as sheds, barns or garages, landscaping, and temporary living or relocation expenses.

Understanding your policies can be difficult. Nevertheless, it is better to invest a little time now, than worry about it later. If you think your insurance coverage falls a little short, shop around to find the kind of coverage you need or speak with your representative about additions to your current policy. You may also want to try on online service like insurancefinder.com.

References

Association of Bay Area Governments. Earthquake Maps and Information, Liquefaction and Information. http://quake.abag.ca.gov.

Federal Emergency Management Association (FEMA). What is a Flood? http://www.floodsmart.gov/floodsmart/pages/whatflood.jsp.

Insure.com. The Basics of Earthquake Insurance. http://info.insure.com/home/quake.html.

Insurance Information Institute. Earthquakes: Risk and Insurance Issues. http://www.iii.org/media/hottopics/insurance/earthquake/.

Kreidler, Mike. Facts about Earthquake Insurance http://www.insurance.wa.gov/factsheets/factsheet_detail.asp?FctShtRcdNum=20.

National Interagency Fire Center. Fire Maps. http://www.nifc.gov/firemaps.html.

U.S. Department of Commerce. NOAA Satellite and Information Service, National Climatic Data Center. Hurricanes. http://www.ncdc.noaa.gov/oa/climate/severeweather/hurricanes.html.

U.S. Department of Commerce. NOAA Satellite and Information Service, National Climatic Data Center. Tornadoes. http://www.ncdc.noaa.gov/oa/climate/severeweather/tornadoes.html.

U.S. Department of Interior. US Geological Survey, Earthquakes Hazards Program. http://wwwneic.cr.usgs.gov/neis/epic/epic_circ.html.

U.S. Nuclear Regulatory Commission. Facility Information Finder.http://www.nrc.gov.

Weston, Liz Pulliam. What Your Home Insurance Doesn’t Cover. http://moneycentral.msn.com/content/Insurance/Insureyourhome/P35342.asp.

About the Author

Pamela Stevens.

Pamela Stevens writes for TopTenREVIEWS.com, an online review service that publishes unbasied software, online service and hardware reviews. TopTenReviews also publishes movie reviews and entertainment pages. Please see http://toptenreviews.com for reviews and articles on a wide variety of topics.

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.

Diamonds are now among the world’s most expensive stones and as such, they are also considered as good investment pieces. Given this reality, it would be wise to insure your diamonds at the soonest time possible to protect your investment from theft or any untoward physical damage that may reduce its value considerably. However, insuring your diamonds may require a little extra effort. It needs some thoughtful planning and may require you to shop around a little to find the best options available.

Generally, there are three types of diamond insurance policy available for you to consider. These are the Replacement Value Policy, the Agreed Value Policy and the Actual Cash Value Policy. We will take a look at each one of these policies for you to determine which one suits you best.

The Replacement Value Policy – This is the most common type of diamond insurance policy available. Under this policy, the insurance company will only be liable to pay up to a certain fixed amount to replace the lost or damaged diamond. However, in most cases, the diamonds are replaced at a much lower value.

The Agreed Value Policy – This is by far the best diamond insurance policy there is but unfortunately, such policies are rarely offered. Under this type of coverage, the insurance company will simply pay you the amount that you and the company have agreed upon. Now, isn’t that neat?

The Actual Cash Value Policy – In the event that the Agreed Value Policy is not available, the next best thing for you to look for is the Actual Cash Value Policy. In the unfortunate event that your diamond is lost or damaged beyond repair, the insurance company will be responsible in replacing your diamond at today’s market value. However, this type of policy is also not very common.

There are a number of factors that may determine just how much you need to pay for your diamond insurance policy. Your rates will greatly be dependent on the value of your diamond, the type of insurance policy that you choose and the area that you live in. For example, let’s say that you live in a high-crime area. You can therefore expect to pay more for your policy to cover the additional risks involved.

Another thing in insuring your diamonds – be sure to have them certified by a reputable gemological laboratory such as the Gemological Institute of America (GIA) and the American Gem Society (AGS). Be wary of other laboratories that may not be as credible as these two. Acquire a certificate (also called diamond grading report) for your diamond and use it as a solid proof of its value when applying for an insurance policy. This way, you save yourself from lengthy unwanted arguments with the insurance company if the diamond gets lost or damaged beyond repair in some future time!

By Michael Russell

Your Independent guide to >Diamonds

Advice on Personal Insurance & Commercial Insurance. Copyright ©. All Rights Reserved.