How Much Property Insurance?

by | May 24, 2019 | Insurance Services

To begin with, people are often surprised by a home fire or a burglary after it occurs. While it may be true that they never saw it coming, they can’t help but wonder what could have been done differently? It’s never too late to change the insurance coverage. With the right insurance company, they can buy the property insurance to take care of their needs. While it won’t help if they suffered losses for the first time, it will make a difference going forward. In addition, property insurance covers people other than the insured who are injured by the fire or break-in. In truth, it can completely cover their liability.

Above all, they don’t have to suffer the trauma of a fire or burglary to have an epiphany. They can buy property insurance today. They probably already have some form of it. If they have homeowner’s insurance, renter’s insurance, earthquake insurance or flood insurance, their property has coverage. If they check with their insurance agent, they may discover that not everything they want to be insured is covered. For instance, they may have inherited a rare, collectible painting that is not under their insurance umbrella. They might have to purchase more insurance to cover such an expensive item. An insurance company like St. Augustine Property Insurance can provide them with the property insurance they need.

The actual property insurance depends on what they decide to use. Specifically, If St. Augustine Property Insurance offered a variety of property insurance products, they could pick and choose. For instance, replacement cost insurance covers the cost of the property they lost or the replacement cost based on the price they paid for it. They’ll see full reimbursement. Other property insurance policies cover the cost of their furnishings minus the depreciation. Still another policy can cover the cost of the lost furnishings in the future, up to 25-percent more on top of the reimbursement. That means if their furniture is ten-years-old and gets destroyed in a fire, property insurance will reimburse them for the replacement cost of a new sofa. Property insurance can do a lot for homeowners who want protection.

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