Home Insurance extras
I'll be switching home insurance soon and I'm just trying to figure out what extras to get and how much - curious what extras you all have added and how much. For context, I live in a 2 story detached and not near any body of water. My water heater and furnace are 5 years old. Never had any claims.
Water Coverage - I can pick from $10k to $100k or policy limit. If I pick $10k does that mean they'll only cover up to $10k? If yes, then I should base the decision on what it would cost to repair the damage? The basement is partially finish but there's nothing of significant value - the floors are crap. Beside the water heater and sump pump failing in the basement, the only other potential area of concern would be the bathroom on the 2nd floor- perhaps the kitchen on the main floor. At any rate, how do I figure out what number to pick?
Do any of you have
I will get the water coverage but the other stuff doesn't really seem necessary (don't think I have these options with my current company) and I bet there's a bunch of small print if I did want to use any of that stuff which would increase my premiums.
At any rate, my main concern is knowing how much water coverage to get.
Water Coverage - I can pick from $10k to $100k or policy limit. If I pick $10k does that mean they'll only cover up to $10k? If yes, then I should base the decision on what it would cost to repair the damage? The basement is partially finish but there's nothing of significant value - the floors are crap. Beside the water heater and sump pump failing in the basement, the only other potential area of concern would be the bathroom on the 2nd floor- perhaps the kitchen on the main floor. At any rate, how do I figure out what number to pick?
Do any of you have
- 'home equipment breakdown' (covers all of your important home systems and property due to loss by mechanical, electrical and pressure systems breakdown.
$100,000 per Equipment Breakdown occurrence.
$10,000 per occurrence sub-limit for Expediting Expenses, Spoilage, and Pollutant Cleanup & Removal.) - 'service line' (Damage to your underground service line that is the result of a service line failure. Perils include wear and tear, rust, corrosion, decay, deterioration, hidden or latent defect, freeze, collapse (but not including sinkhole collapse), electrical and mechanical or pressure systems breakdown) - the limit is only $10k so not sure what good that's going to do
- claim forgiveness?
I will get the water coverage but the other stuff doesn't really seem necessary (don't think I have these options with my current company) and I bet there's a bunch of small print if I did want to use any of that stuff which would increase my premiums.
At any rate, my main concern is knowing how much water coverage to get.
"Standard procedure" I was told.