If a fire, flood, hurricane, or some other natural disaster were to destroy or damage your home, would you have the right insurance coverage to rebuild your house?
These series of posts are based on the questions consumers most frequently ask, explains what is covered in a standard homeowners policy and what is not. Where gaps in coverage exist, it tells you how to fill them.
To simplify explanations, we assume that you have a policy known as Homeowners-3 (HO-3), the most common homeowner’s policy in the United States. Find out what type of homeowners policy you have. If you have a different policy, you should review your options in question #17.
Question # 13: My golf clubs are stolen from the trunk of my car. Does my homeowners policy cover the loss?
Answer: Yes. The HO-3 covers your personal property while it is anywhere in the world. However, if your golf clubs are old, you will only get their current value, which may not be enough to purchase a new set. Consider buying a replacement cost endorsement for your personal property. This way you will get what it costs to replace the golf clubs, less the applicable deductible.
Okay, our next post of common questions asked will be Question # 14: I have a small power boat. If it is stolen, am I covered? What if there is a boating accident and I get sued? Am I covered for that?
A current concern if you have enough protection for your home – call us.
EMERGE INSURANCE AGENCY
Cecil Williams -