Your home insurance cover may include the house and certain property in it, but less often includes valuable property such as jewelry, art, antiques and other elements of your interior decor.
After a disaster, restoring your home to its original state, including any art and antiques that were displayed within your home, would be ideal.
Your home fixtures and fittings that comprise of your interior décor are also quite important and perhaps quite costly. Depending on your taste, you may even have imported some of the items used to decorate your home.
A normal home insurance package will not sufficiently replace these items for you, and you need to look into separate covers.
The difference between whether items that are part of your home décor will be covered or not covered is determined by what the insurance company is offering. If your insurance company does not cover your home décor, then you will need to look into additional covers as follows:
1 . Include a valuable item cover in your policy
Certain home insurance companies make provisions for valuable items, but only for a small limit. Your art, prized antiques and other items that form your interior décor will therefore not be adequately covered.
The extra amount you add to cover your valuables is called an insurance rider and it has the following benefits:
- It allows you to insure your items at their real value. You can get an expert appraiser to corroborate your claim of value. The insurance company will also use their appraiser.
- You get covered for all risks that could come to your valuables.
2. Contents insurance
Items in your home that are not fixed to your house are covered under contents insurance. What is clear is that clothing, food in your refrigerator and furniture are covered. What may not be clear is whether your home decoration pieces are covered and to what amount.
It might also be advisable to take out an additional policy to cover for accidental damage if the items in your house are extremely fragile.
You can also find out if some of your valuable items can be covered under personal belongings.
3. Permanent fixtures are part of your building insurance
If your house is damaged and needs to be rebuilt, your building insurance will take care of it. Circumstances leading to the damage must be deemed to have been beyond your control, for instance, burst pipes that were not of your doing, vandalism or damage resulting from floods or storm.
In addition to replacing or repairing your house (i.e. the walls, roof and the ceilings), building insurance will cover fittings such as:
- Bathtubs and shower shelters
- Fixtures on the walls, roof and kitchen
- Tailored wardrobes
- Wall painting and decoration
It is crucial to make sure you get an unlimited cover so that in case of damage, all your home décor will be replaced. An unlimited cover takes away the need to nitpick at what was covered and what the cost of replacement should be. It’s covered at full cost and is actually faster to process.
Felix Dupp is a home insurance agent with 9 years’ experience in the insurance industry. He has extensive knowledge of the different types of insurance having worked for life insurance, commercial property and home insurance companies throughout his career. Visit his site to find out more.