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Buying a home in Albertville or Wayzata, Minnesota may require a certain amount of home insurance to protect your property. Although personal belongings are usually covered in part by a home insurance policy, there are situations when you will want to keep your insurer informed about new purchases that come into your home.
Expensive Purchases
If a purchase is very expensive, then you may want to inform your insurer about the item as soon as you bring it into your home. Give your insurer the details about the replacement cost so that it is noted on your account.
Expensive purchases that may be appropriate to inform your insurer about include electronics, jewelry and furniture. After informing your insurer about the purchase, keep a copy of the receipt and a picture of the item in a safe location so that you can prove that you owned the item if something happens in the future.
Other Purchases
Although it is appropriate to inform your insurer about expensive purchases, it is not necessary to give the details of every item that you bring into the house. Articles of clothing, a pair of shoes or an inexpensive piece of furniture may not require you to inform your insurer about the purchase.
In most cases, the amount of coverage that you have for personal belongings may provide enough funds to handle low-cost purchases that are not specifically identified.
While it is not necessary to inform your insurer about every purchase that you make, it is usually a good idea to mention high-cost items to ensure that the replacement cost of those specific items is covered. Call us to talk to an independent agent today for more information about coverage for personal belongings.