Saturday, November 2, 2013
Types of Insurance- Building Contents Home Insurance in the US
Nowadays, people are making sure that they have insurance, even for what seems to be the craziest things. Imagine, stars such as Tina Turner and Jennifer Lopez, who are famous and are role models of many, insured parts of their own bodies (Turner's legs and Lopez's buttocks). Those are the extreme cases; most people obtain building contents home insurance in the US.The house or the home is usually the most valuable asset of an owner. Think about it - among your belongings, it is probably the most expensive and most important. A motor vehicle is important, but if you ask people to make one choice, many of them would prefer owning a home as opposed to an automobile. This is the exact reason why it is very important to acquire insurance for your home.One of the forms of insurance that is offered to home owners is building contents home insurance, in the US and even in other locations. This is obtained by many people for the fact that they want their belongings inside the home to be insured, should any damage or loss come unexpectedly. This is more evident in the US as opposed to other countries, since most Americans really value their belongings and would like to at least be compensated for any loss or damage.You may be wondering, why don't they insure their whole house? Truth is, Americans have this option to insure the whole house, including the structure and all that is within. The problem that arises though is that the premium for such insurance plans will go up, and some Americans just don't want to spend that kind of money. Their solution is to simply obtain the building contents home insurance available in the US, or the building structure insurance.What exactly are the contents that are covered in an insurance plan of such kind? Well, most insurance companies give their clients the option to list all items that they want covered in such a policy. The premium to be paid is usually dependent on the types of items to be covered. If they are expensive and highly valuable, then the premium will be high as well.The most likely home contents that people choose to have insured are usually the furniture and appliances. These items can be kind of costly, but they are also necessities in one's home, which is why most insurance companies that provide building contents home insurance in the US often include furniture and appliances in the original policy plan offered to the client.In addition, several insurance companies provide discounts for those that are deemed to have less risk of accident or criminal activity occur in their location. For example, your belongings are deemed to be unlikely to be stolen if there is a proper security system installed in your house, which the insurance companies take note of. However, some US companies may not offer discounts first-hand, therefore it is up to you to make sure to ask them before getting your building contents home insurance in the US.Also, there are some companies that take note of the personalities that live in the insured home. For example, if you or anyone living with you is a smoker, then the risk for having a fire start in your home is increased. In fact, statistics say that smoking is primarily responsible for approximately 20,000 home fires in the US per year. As such, the insurance company will normally charge a higher premium for your building contents insurance. Consequently, if you quit or are a non-smoker, the rates may be reduced.Additionally, senior citizens (or those over the age of 55) or those that are retired usually receive a decrease in premium rates. This goes on with newer houses also, since the risk for fire and/or electrical failure is lesser than that of an older house, which can also allow the fire to spread more rapidly.Whatever it is that you need, make sure to consider all the aspects before deciding and getting your building contents home insurance in the US. Make sure that all your necessities are covered and that you are not charged exorbitantly for the premium. Take into consideration that certain things require higher premiums though.