It’s under your roof, but is it under your policy? When it comes to home insurance, don’t let the fine print catch you by surprise. Some claims are straightforward. But is your wedding ring covered? Your bike—even if it is locked up on the street? What happens if there is an earthquake? Here are key points to keep in mind about any home insurance policy.
A click in time saves nine—or more.
There’s no measuring a cherished family heirloom’s value, especially if you can’t prove that you ever owned it. Documenting your possessions by taking photos or videos can save you headaches—if not heartache.
Not all valuables are considered equal.
Most possessions are insured against theft, but there are limits on some things, such as jewelry and furs. Since thieves steal anything of value, buy a rider—an enhancement to your plan.
Outside is in.
It’s not just sheds and garages: Many policies cover pools, driveways, and retaining walls as freestanding structures.
You can take it with you.
Even when they’re not at your house, valuables such as your bike, camera, and laptop are usually covered—as long as they aren’t used for work. There are limits, however, so ask your agent.