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Home owners insurance

Home owners insurance is necessary for everyone to protect their houses and personal property. In case of the loss or any kind of damage caused to the property it is a primary duty of the insurance company to pay the property's actual cash value or its replacement cost coverage.

The most typical claim questions which arise in this sphere are connected with the rights and obligations of the insured and the insurance company in case of the damaged property and its protection from the further loss, as well as factors which influence the premium rate, such as the type of the construction, basic coverage, discounts, etc.

A particular notice should be laid upon the fact that if the damage to the property was caused by such factors as seepage, dry rot or animal pests (the result of poor maintenance) the insurance company normally excludes them from the coverage. As far as natural catastrophes are concerned, a separate insurance policy must be purchased to protect the property against it.

The insurance company may not pay for certain types of belongings lost like silverware, guns, jewelry, watches, furs and computers because there are certain limits fixed on them. In order to put them down one should discuss the alternative options with the insurers.