There are so many very good reasons to get household contents insurance.
Even with the idea that you could lose it all, many people over look this simple type of insurance.
You may wonder why this is the number one overlooked type of coverage.
The reason is that most people do not think the unspeakable could happen to them.
It can.
If you want to be able to live after losing it all, make sure to get insured on everything you own that cannot be replaced easily.
If you are unsure as to if you have anything to insure, ask yourself if you can afford to buy everything you own right now again.
Who Gets Coverage Household contents insurance is for everyone.
It does not matter if you own or if you rent - you still need it.
Most often people who own have to purchase insurance on their home as they are not the owners yet.
The bank wants to be sure that its collateral is protected from damage in the case of an accident.
Since you already have that policy it only makes sense to add all of your valuable belongings onto it for protection.
Renters too need to be insured.
In the case of an accident, your landlord is only insured for his property, not yours.
This means if something happens and you lose all your assets during a fire or other event, you will be out of luck.
Having insurance for renter allows you to replace all the contents in your home that are not covered by the landlord.
What Gets Covered One of the biggest questions people have when it comes to household contents insurance is what does it cover? Just about everything.
If it has value, it can be covered in your policy.
Your premium will depend on the replacement value you are looking for.
For most people, paying an affordable monthly premium is much better than losing all they own.
If you own your own home then you will want the house, everything in it with value, and even your property covered.
The reason is that you never know what will happen and if you need to repair or replace these costly items, you want to have it be through your insurance instead of your wallet.
Not many people can easily go out and buy a new home, land, and contents the very next day after a disaster.
Renters seem to think that it is their landlord's problem in the case of an accident.
The truth is it is not.
This leaves many renters not only moving to a new location during repairs, but paying for the hotel stay and all new assets for when they can return.
For those who rent, this could be impossible.
Smart renters will get a policy to cover all the loss and damages to their personal belongings.
This will make sure that in the case of an emergency, you have a place to go and can replace all your lost goods.