Missouri Homeowners Insurance - Do Not Delay, Update Your Policy Now
It is the sincere desire for all of us to own a home.
For most of us, owning a home or apartment represents a major investment cost.
Stop a moment and imagine if your home is robbed or damaged by a storm.
Purchasing insurance can protect you from such unpredictable losses.
In the event of a loss, you are required to make a list of your personal property, including the original cost.
Also, you should maintain receipts or pictures of your possessions and keep this information in a secure place, such as a safe deposit box or a fireproof box.
Over the last six years, there has been a steady increase in home insurance costs.
According to the Insurance Information Institute, there is a projected increase of 2.
5 percent from last year.
This projected increase reflects higher prices for each of us.
Which Policy is best for you? There are five Missouri home insurance policies available for you to buy right away.
The determining factors are the type of coverage you want, the structure of your home, and whether you own or rent the home.
If you rent an apartment or home, you need Missouri renters' insurance.
The Missouri Department of Insurance recommends a $500 deductible cost to cover the loss or damage of your personal belongings within the rented residence in the event of lightning strike, smoke, fire or water damage by pipes.
You also should receive reimbursement for living expenses, liability and medical bills, if necessary.
Similarly, condominium insurance covers your personal property as well as any additions or alterations to the condo not insured by your condominium association, according to state law.
This coverage is standard.
Missouri homeowners can save the most on home insurance costs because of the broad range of policy choices available.
Your home can be insured under any of the following policies if you own the home and live there, and if no more than two families and two boarders live there: • Broad coverage- This is a standard coverage insuring your personal property • Special coverage- This is a slightly more coverage insuring the building and personal property • Actual cash value- This is required for older homes, your property will be reconstructed to a livable condition with common building materials; the insurer will not pay for any replacement costs beyond the basic reconstruction.
For all the policies above, you must purchase separate insurance to cover loss or damage from an earthquake, a flood or any acts of war.
For most of us, owning a home or apartment represents a major investment cost.
Stop a moment and imagine if your home is robbed or damaged by a storm.
Purchasing insurance can protect you from such unpredictable losses.
In the event of a loss, you are required to make a list of your personal property, including the original cost.
Also, you should maintain receipts or pictures of your possessions and keep this information in a secure place, such as a safe deposit box or a fireproof box.
Over the last six years, there has been a steady increase in home insurance costs.
According to the Insurance Information Institute, there is a projected increase of 2.
5 percent from last year.
This projected increase reflects higher prices for each of us.
Which Policy is best for you? There are five Missouri home insurance policies available for you to buy right away.
The determining factors are the type of coverage you want, the structure of your home, and whether you own or rent the home.
If you rent an apartment or home, you need Missouri renters' insurance.
The Missouri Department of Insurance recommends a $500 deductible cost to cover the loss or damage of your personal belongings within the rented residence in the event of lightning strike, smoke, fire or water damage by pipes.
You also should receive reimbursement for living expenses, liability and medical bills, if necessary.
Similarly, condominium insurance covers your personal property as well as any additions or alterations to the condo not insured by your condominium association, according to state law.
This coverage is standard.
Missouri homeowners can save the most on home insurance costs because of the broad range of policy choices available.
Your home can be insured under any of the following policies if you own the home and live there, and if no more than two families and two boarders live there: • Broad coverage- This is a standard coverage insuring your personal property • Special coverage- This is a slightly more coverage insuring the building and personal property • Actual cash value- This is required for older homes, your property will be reconstructed to a livable condition with common building materials; the insurer will not pay for any replacement costs beyond the basic reconstruction.
For all the policies above, you must purchase separate insurance to cover loss or damage from an earthquake, a flood or any acts of war.