If you are the proud owner of a new home in Long Island, then you will want to have a homeowner’s insurance Long Island policy in place. Homeowners insurance is vital, because you never know when lighting will strike a home igniting it in fire or when you could have grease ignite in the kitchen while you are cooking. While most home fires are accidental, they are incredibly devastating all the same. There is nothing worse than losing everything you own right down to your toothbrush in a home fire. While there are many things that can never be replaced such as sentimental items or family photos, homeowners insurance can help by at least rebuilding your home and replacing your personal possessions. These policies cover flooding and loss due to theft as well, so the cost is worth it.
Always Have Replacement Value Listed in Your Homeowners Policy
When you are searching for insurance, take to the internet to look for the best deals. A comparison site is probably a good option, because it will allow you to get quotes from multiple insurance companies at once. It is best to go with a company that has a branch office in your local area. If you ever have a claim, you will want someone there immediately to help you, not someone who is five states away and doing everything through the mail. Most insurance companies will quote you the minimum cost to rebuild your existing home, and around $50,000 in most cases to replace personal property. You should always make sure that you have replacement value listed in your policy, so that things aren’t depreciated if anything ever happens. This will add a few extra dollars to your premium each month, but it is well worth it.
Insure Your Collectibles Separate from Personal Property
If you are a collector, then you may need to list items individually in your insurance policy that relates to your collection. People often insure their collectibles separately, because most of the time they are irreplaceable, and insurance companies won’t pay what they are actually worth unless you have them specifically listed. It is also a good idea to take inventory of your possessions along with photos, so that you can prove your losses in the event that you have a claim. It might be wise to purchase additional coverage for personal property rather than taking out the minimum that they quote you, because things aren’t cheap and it may be hard to replace everything that you have if you are only insured for the minimum amounts. Your insurance agent should be able to advise you properly.
