What would it cost to replace the contents or personal belongings of my home?
Your personal belongings If the unexpected happens, losing your home contents could be distressing, financially devastating. Your Farmers Homeowners, Townhouse, Condo and Renters policies cover your personal belongings, subject to the policy limits and conditions. There are two distinct ways to insure your personal possessions: Replacement cost coverage This coverage pays you the dollar amount needed to replace personal property without any deduction for depreciation, but is limited to a maximum dollar amount. Actual cash value This coverage pays you an amount equal to the replacement value of damaged property minus depreciation. Unless a Homeowners policy specifies that property is covered for its replacement value, the coverage is for actual cash value. Many people make the mistake of underestimating the value of their home contents. This mistake is easily made when you consider the amount of new items we purchase each year. Under-insurance can lead to heartache and inconvenience sho
• Is there coverage to repair and/or replace the appliances in my home? • Do I need to take an inventory and photographs of my belongings? • Do I need Earthquake insurance? • Should I get Flood insurance? • Do I need Personal Liability Umbrella coverage? • How can I make sure there is adequate coverage for my valuables (jewelry, silverware, furs)? • How much should my deductible be? Save with Multi-Line Discounts Many insurance companies like Farmers offer discounts when you purchase more than one policy from them. This multi-line insurance discount can be a big help to budget-conscious homeowners. Here are some other things you can do to perhaps qualify for lower homeowners insurance premiums: • Secure your home with dead bolts and window locks. • Install a security system with outside signal and connection to local police. • Install and maintain smoke detectors. • Install a sprinkler system for fire. • Install a fire alarm that automatically alerts the local fire department. • Stop s
