EVERY day people ask themselves, "How much homeowner’s insurance do I need?" The answer varies, depending on each person’s situation. Usually you should insure your home for its whole value, the actual building and all of its contents.
In order to find out exactly how much your home is worth, you should have it appraised. You can have an appraiser, builder or insurance agent give you an estimate on its value. However, if you ever remodel or add on to your home, its value will increase, and you will then need to purchase more coverage
For any valuable possessions you have, you can purchase extended coverage, to ensure those items are covered as well. The best thing to do is take a room-by-room inventory of your valuables then keep this list somewhere outside the home, for example, a safe-deposit box.
To determine if valuable possessions, such as TVs, stereos or computers are covered, or if you have any other questions about homeowner’s insurance, contact an insurance professional.
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If you suspect a scam, call the NICB hotline at 1–800–TEL–NICB.
For information about auto insurance and insurance fraud, contact your insurance agent. (Advertising Supplement)
( Published July 3, 2010 in Asian Journal Los Angeles p. C3 )
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