The best homeowner insurance is the insurance that best meets your needs. The insurance shopper that takes the time to understand the basic elements of home insurance will have much more confidence and sense of satisfaction when making an insurance purchase. The homeowner policy has been around for a long time and so most of us have a general concept on how the policy works. The more you know about the market value of your home and the approximate cost to rebuild it the better off you will be when shopping for the homeowner policy.

This kind of knowledge is the foundation for determining what kind of policy to purchase. The age of your home has a direct bearing on the market value. The older homes built in the 1900?s have much lower market values today because most of them have depreciated. The market value for an older Victorian style home may be $50,000 but the actual cost to rebuild that home may be $200,000. The older homes that depreciate in market value are insured with actual cash value policies. They are often called market value policies. These policies will reimburse you for the market value of your home when there is a total loss. The market value policy is the best homeowner policy for the older home that has depreciated.

The replacement cost policy is better designed for newer homes or homes under construction. The replacement cost of a home and the market value are almost the same. Replacement cost is applied to the dwelling and most often to the contents of the dwelling. Replacement cost will repair or replace any loss with like kind and quality of materials without depreciation.

The best homeowner insurance for you will be determined by the age and market value of your home. The discounts for older and newer homes are the same. The protective device discount for deadbolt locks, smoke detectors, and fire extinguisher apply to both types of policies. Fire and burglar alarm systems are additional discounts that could be applied to both older and newer homes. Check our recommended insurers for more details.

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Not everyone will remember the road safety campaign aimed at toddlers and small children and called the ?Tufty Club?. Tufty?s full name was Tufty Fluffytail and the cute and very sensible squirrel was the logo for the scheme. Road safety scenarios were acted out using roll-out plastic crossings, pedal cars and children acting as ?lollipop ladies?. Squashed fruit and flattened footballs demonstrated what would happen should you not obey Tufty?s rules. The club started in the early 1960?s and continued into the 1980?s. By the mid 1970?s it?s understood that there was a membership of 2m youngsters.

One of the main life assurance companies featured a squirrel as its logo too. Presumably he was perceived as cute, friendly and reliable and policies were referred to as ?the one with the squirrel on?, when customers were at a loss for the name of the company.

Whether a couple who recently had ?10,000 worth of damage done by a rampaging squirrel would agree with these images is another matter. It was reported recently that this was the final figure to put right the damage caused as a result one of these fluffy friends falling down a chimney.

Returning to their home after a weekend away, they were met with a scene of devastation. Carpets and soft furnishings were chewed and ripped. Wooden furniture was gnawed and even the window frames had been gnawed through in the squirrel?s desperate attempt to escape from the house. Wallpaper had been scratched off the wall and even the light fittings had been damaged. In its panic it had sprayed urine and faeces all over the room and the smell was horrific. Fortunately the door of the room was closed and damage was limited to one room. It appears that the squirrel had dropped down the chimney ? a fall of 30ft. The unfortunate squirrel was found dead behind a coffee table. It?s terror at not being able to escape from the unfamiliar surroundings had apparently resulted in a heart attack.

An RSPCA spokesman has said that this was a rare and unfortunate incident. He advised that if a householder hears odd noises or has cause to suspect that anything is trapped in the chimney, they should call out the RSPCA without delay.

In another report a squirrel was blamed for eating through a power cable and causing havoc by cutting off the power supply to thousands of homes and businesses for five hours, not to mention causing the failure of traffic lights in the town on an otherwise quiet Sunday afternoon in Exeter.

Householders should be aware that whilst the soft furnishings and contents of the home would be part of a claim against the house contents policy, the damage to the window frames would come under buildings insurance. Therefore there would be two separate claims to be made as a result of the marauding squirrel in the first incident. Not all insurance companies cover damage caused by squirrels and obviously this should be checked on your policy.

When taking out insurance, then, both for contents and buildings, it is important that possible damage by squirrels and other rodents should be included. Read the small print carefully and specifically.

As Tufty himself would have said ?Take care.?

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Most of us think that, if you have contents insurance then, in the event of a burglary, we would be totally covered. So nothing to worry about then? That?s not necessarily true. Some insurers will downgrade the amount they pay out if you have underinsured your belongings. For example, if your home contents were really worth ?30,000 but you?d only insured them for ?20,000, then the odds are that the payout on any claim you make will be reduced by 50%!

So how do you get around this problem? Well, its quite simple. Just make sure you insure absolutely everything in your home for the correct value. Remember to include everything from your expensive electrical items, iPods, DVD players, personal computers etc, to your CD collection and even your pots and pans. Absolutely everything should be included! Insurance companies generally value CD’s and DVD’s at ?10 each, so if you?ve lots of them, they could increase your valuation quite a lot. Even items kept in a garden shed need to be included.

There are though, some insurers who treat their under insured clients quite differently. Take Norwich Union for example; they?ll pay out up to the insured value and anything over that has to come out of your own pocket.

Many insurers, set the minimum level for Contents Insurance at ?15,000 but this still wouldn?t cover most homes as the average value now stands at ?45,000. Some insurance providers are particularly worried about the problem of under insurance. More Than have recently increased the Contents cover for all their clients by 25%, a generous offer indeed! Their spokesman said of the raise: The increases will be made from the customers renewal dates. There will be no direct effect on premiums until then. We expect many other insurers to follow.

If you’re not too sure how to value your contents, there is help out there. Remember that contents insurance covers every single moveable object in your home – so if isn’t bolted down insure it! You?ll find a useful checklist for valuing your contents at www.abi.co.uk.

So take a second look at your contents insurance and make sure everything that could possibly be stolen is included from your television and stereo to pot plants and teacups!

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If you are renting a home or an apartment it is wise to purchase renters insurance. Some renters mistakenly believe that the property, home or apartment owner has enough insurance to cover their belongings in the event of damage or robbery. But in reality it is very possible that the renter will not have their valuables covered through the landlord’s home or apartment renters insurance protection. Most landlords will have coverage for their dwelling, but not for your belongings inside.

What exactly does renters insurance cover? Each policy will be different depending upon your needs. Your individual policy will take into account your wants and needs and can be designed for you specifically. However, most policies will cover the basics, damage or loss due to water damage (plumbing problems, etc.), theft, fire and other common occurrences.

The smart thing to do is get some free renters insurance quotes online. Receiving online quotes can be fast and easy. Plus, the coverage you get now may help immeasurably when the unforeseen happens. Whether you need apartment renters insurance or want to insure your rental home or property there are many top notch insurance agents and companies online that will give you fast free quotes. Purchasing renters insurance may not be as expensive as you may think. Plus, it can go a long way toward saving you a bunch of money in the event of a catastrophe.

If you would like to purchase cheap coverage online it’s a very simple matter of starting with a few free quotes. After getting some free online quotes you can buy with confidence from some reputable online companies. Most insurance brokers can help provide you with rates and quotes that can be cheap while still giving you relief that your valuables are protected adequately.

You do not want to be stuck without renters liability insurance when your apartment floods and destroys much of your interior and furnishings. You also do not want to be caught without insurance if a fire or earthquake catch you by surprise. You definitely want to have high quality coverage when someone breaks into your dwelling and steals your prized possessions. Start feeling safer by getting some cheap insurance quotes online and then buying good coverage at discount prices from reputable companies.

In the event of the unforeseen, without insurance coverage you could lose most or all of your belongings, furniture and other personal items. This could be the cause of financial hardship which would have been prevented with a quality renters insurance policy.

When purchasing renters insurance it’s always a good idea to make a list of all of your belongings. On this list you should make note of the prices you paid for the items or their replacement cost. It’s also a great idea to use a video camera to videotape all of your household items. Without a list it’s very easy to forget what you owned or be able to prove that you actually owned specific items in the first place. Your inventory list and videotape should be kept in a safe place such as a fire proof safe. If this is not possible you will want to make two copies and store one at a relative’s house or some other safe location off premises.

It’s also important to know what your coverage includes. Finding out what you are covered for after the fact can be an unpleasant experience. You do not want to be put in the position of finding out that you don’t have adequate protection after all of your valuables are destroyed or stolen. So pay attention and make sure you know exactly what you are covered for.

If you are renting you need insurance. Many people think it won’t happen to me, but it’s better to be safe than sorry. Don’t get caught without a policy when the unthinkable happens. Make sure you can recover from anything that will be thrown at you. With quality protection it will be a lot easier to sleep at night.

This article is brought to you by My Renters Insurance, an online source for renters insurance companies. Find free renters insurance quotes online at My Renters Insurance.

The homeowner?s insurance coverage that the average consumer buys is widely misunderstood. The policy benefits and features are actually quite comprehensive but many people assume that they cover deterioration and maintenance problems. This is not the case. Those kinds of home maintenance problems were never designed to be covered by a homeowner policy. The rates would quadruple if that were the case. Homeowner?s insurance is unique and broad. Property insurance insures against perils. Perils are unforeseen occurrences like fire or lightening. Understanding perils is the first step in understanding your homeowner?s insurance.

Basic Named Perils

?Fire or Lightning
?Windstorm or Hail
?Explosion
?Riot or Civil Commotion
?Aircraft
?Vehicles
?Smoke
?Vandalism & Malicious Mischief
?Theft
?Falling Objects
?Weight of Ice Sleet and Snow

There are more perils than those listed above but you can see how these perils are clearly unforeseen and are not at all related to deterioration or construction problems. Understanding perils will help you understand the concept of insurance. The next part of the homeowner?s policy that would be worth examining is the definitions.

Definitions

?Insured ? is the named insured and all of the resident relatives
?Insured Location ? the resident premises listed on the declarations page including the land where there is a home under construction. (Business use is excluded)
?Occurrence ? is an accident or unforeseen event which includes the continuous or repeated exposure from the same harmful event.

These are three of the basic definitions that you will find in most homeowner?s policies. The definition of occurrence is much broader than most people understand and so it is good to read some of the definitions. These are some of the fundamental benefits and features of homeowner?s insurance coverage that most people do not take the time to examine. As long as you own a home you will most likely always have a homeowner?s policy and so it would be wise to get the basics out of the way. Too often we talk price instead of coverage. Go online and do some research about homeowner?s insurance and that will make your next home insurance purchase that much easier.

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As a property owner it is essential to protect yourself from the potential legal claims that could be made by tenants, contractors and members of the public who are injured whilst living in or visiting your property.

All landlords are at risk of being sued if found to be negligent or in breach of their duty of care. For example if a tenant were to trip and fall on a broken step, they would be able to sue the landlord for damages and in the age of ‘no-win no-fee’ legal cases, this type of action is becoming increasingly popular.

Minimise the risk

The best way to avoid legal action is to try and minimise the risk. Essentially it is up to the landlord to ensure that the property is as safe as possible. This includes fixing broken steps, shelves and cupboards, testing electrics and reducing fire hazards.

However, this does not eliminate risk completely and the last line of defence should be liability insurance.

Property owners’ liability insurance

Liability insurance enables the landlord to meet any costs or damages awarded to a member of the public if they suffer an injury following an accident on or from the owner’s property.

Getting insured

Often specialist landlord’s insurance providers will provide liability insurance as part of the main package, but it is a good idea to check your policy to ensure that you are covered.

If you are not covered, you may want to consider taking out liability cover or changing to a new policy that includes this cover.

Don Suter is Managing Editor of the UK Property Portal (http://www.ukpropertyportal.co.uk), an online directory and magazine for UK property sales, rental, surveyors, mortgages, conveyancing, property insurance, removals, news, investment and development

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