Posted: Wed Oct 29, 2008 5:52 am Post subject: contents and building insurance
Are there any differences between the contents insurance and building insurance? Is it really necessary? _________________ Register Now to have your Insurance queries solved.
Yupp, both are actually two distinct categories of home insurance. The valuables inside your home are protected through the contents insurance in the event a burglary or an accident takes place. Building insurance on the other hand, covers properties concerning the physical structure of your home eg. doors, windows, driveways, roof etc. Crossbreed _________________ Register Now to have your Insurance queries solved.
Are there any differences between the contents insurance and building insurance?
A true homeowners policy will have personal property coverage, usually about half the dwelling coverage...
Quote:
Is it really necessary?
only if you want to protect your structure and your personal property from loss..if you don't then no it's not necessary...fool hardy not to have it yes, but necessary no, but no complaints when you're left with nothing. _________________ **************************************
Life gaurantees a chance NOT a fair shake
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FIND a way EVERY day to lighten the load of another
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It is normal for most of the mortgage lenders to push you towards building insurance. Sometimes they would make it mandatory for you to opt for it. I think at times it is a much better option, since its a one-time investment.
Contents insurance is certainly not mandated by anybody..but taking into account the number and worth of valuables back home you may opt for it!
Roddick
Its quite evident that the content insurance covers only the content of the policy holder, it however will not cover the damages to the building or any commonly hold property. Its suggested that the homeowner should purchase both the content and the building insurance for full protection.
The contents within the house determine the content insurance rate, hence, it'd require constant monitoring of the inventories to ensure enough coverage for the items. The homeowner should include any new purchase to the insurance policy for better protection.
Hi,
It is always right to shop for the kinda insurance that you're looking for. I'd not advice you to go to your mortgage lender at all!
I'd never believe him to be the right person for the right offer.
But believe me, if you're in a rented house your landlord might just be of some help to you.
Regards, Fatman
I really don't understand why you wouldn't want either one. You want to insure your "stuff" so contents is necessary.
If you have a mortgage, the mortgage company will insist on insurance. If you have paid off your mortgage, why would you not want to insure the building.
If it burns to the ground, and you don't have insurance, you will have nothing. _________________ Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
Posted: Wed Oct 29, 2008 4:23 pm Post subject: insurance
If you're not a homeowner ( I rent an apt..) can you still get this Content Insurance? I never heard of them. Is it worth it? Interesting. Learn something new everyday..LOL
ABSOLUTELY! It's a renters policy and no one should not have one! they are pretty cheap they cover your contents/personal property they also have general liabililty coverage... _________________ **************************************
Life gaurantees a chance NOT a fair shake
**************************************
FIND a way EVERY day to lighten the load of another
**************************************
Renter's policy is uber-cheap. I've seen 25K for as low as $15.00 per month. _________________ Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
I would absolutely have your current agent give you a quote. You should also get a discount on both your renter's poilcy and your auto policy (multi-policy discount). _________________ Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
Hey Sd...I had to get a renters policy when my husband first bought our home. We were not married yet..was getting hitched in a year..and when the agent came out and went over the policy with us he said my stuff would not be covered since we weren't married and the house was in his name only. It really is cheap and the protection is great if <God forbid, you ever need it.
Posted: Thu Oct 30, 2008 11:33 am Post subject: insurance
Thanks, FIREYONE. I don't own a home ( as I said above). I don't have to do the 'spouse thing' ( since I no longer have one. Wow....I think I'll see what I can do.
