Aug

Most all folks who own a home have homeowners insurance, but did you know that three-quarters of home owners have less than solid coverage? It's true and this is always a major discussion and topic point with antique cars American Insurance Agents Association and there are always plenty of articles about this fact in insurance industry trade journals.

What if you have insured your home for less than 1908 1909 Rose Company Postcards actual value without knowing it? What if momoko cost to rebuild your property is more than the face value of your policy, then what happens? We saw during the wildfires of Southern California that numerous homes were lost, but the cost of rebuilding them was often much higher than the insurance policy allowed for.

Worse, the contents of the homes, the furnishings and the personal property was only covered for its depreciated value, which often was Godzilla model very much and sentimental value doesn't count. And even if the insurance Iron Man would pay for these items, the homeowner had to prove the ownership of each item.

Even still a lesson in hindsight, some of the homes that were in canyons where there is a "high-risk" of fire, were not covered for fire loss. Those that were insured for fire loss, well each home had different coverages and often the bids from various re-building contractors were far more than the policy value, thus homeowners had to scale down or just take the money and leave, unable to rebuild.

In fact, in some cases the homeowner's equity was a negative value and the insurance company did not even pay off the loan, so the now homeless residents lost everything and still owed the bank. Perhaps this is why you need to check your homeowner's policy and make sure you understand all the terms and conditions and increase coverage when necessary.

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