Five Can't Miss Tips for Brightening Your Bath
Buying a Home? New Construction Offers Many Benefits
As part of a Lehigh Valley Home Purchase, the mortgage company is going to require that you have enough Home Owners Insurance to replace the home (replacement cost) in case of a disaster.
On the other hand, you want to protect yourself. You should have coverage for all of your possessions. You don't want the insurance company giving you $200.00 for that television you paid $800.00 for. As a result, you probably want replacement cost and a certain dollar amount of what your possessions are worth.
In addition, if you have anything special (a coin collection, a stamp collection, a lot of jewelry) you should discuss that with your insurance rep since you may need a specific rider to ensure coverage.
Lehigh Valley suffers from Sink Holes due to large limestone deposits. You may want to have a rider on your insurance policy for sink hole coverage.
Also, you have to consider liability. What happens if someone falls and breaks their neck on your property? If they decide to sue, what are you covered for? Will they be able to come after you and your assets?
A lot of insurance companies do send someone out to the house to see what they are insuring (the home) but the rest of the above is left up to you and what type of policy/coverage you want.
These are all things that should be discussed with a good insurance representative.
This also brings up life insurance. If you are the main bread winner and you pass for some unexpected reason what happens to the house? It may be left to your spouse but can they afford it? Will your policy pay off the mortgage?
