Pardridge Insurance: Insurance is Your Guarantee just in case…..


Is it that Time of Year, to check your Home Owner’s Insurance? Have you added on to your home; a new deck perhaps or updated your old windows, how about new carpeting? All of these changes can be a reason to reexamine your Home Owner’s Insurance. Other additions that can cause the need for changes in your policy, like new jewelry or the purchase of “that one-of-kind” antique table.

If you have tangible assets, you need the protection of a homeowners insurance policy. These policies cover you in a home or an apartment, whether you are an owner or a renter. A well-written homeowners policy will pay to replace any of your personal property that is destroyed in a fire or other disaster. The policy will also be your first line of defense against a lawsuit from someone injured at your home.

The cost of this coverage is determined by many rating factors. The quality of the coverage, however, is determined by the quality of the insurer and whether the policy is written on a named perils or all-risk basis. A named-perils policy covers only those losses specifically cited in the contract. The all-risk policy works the opposite way — unless a peril is specifically excluded, coverage is provided. The all-risk policy is broader and the burden of proof is on the carrier, not you, in the event of a loss.

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