Month: October 2014

Coverage C is the part of a home insurance policy that protects personal property. Often, the limit of this coverage is automatically set to 70 percent of the limit on the dwelling. For example, if your home in Addison, TX is worth $300,000, then your Coverage C limit for personal property is probably $210,000. Every insurance policy, though, has other limits and exclusions listed in the policy’s Coverage C section. Here are some typical ones to look for.

Excluded Items that are Not Insured

There are a number of items that are specifically excluded from personal belongings, regardless of their value. Some common examples include:

• business data and equipment
• vehicles, boats and airplanes
• pets
• any tenant’s belongings, if the property is rented

Items that are Insured to a Certain Value

Some items are insured, but only up to a certain value. Each insurance company has different limits, but they all set limits on how much they will reimburse for the loss of jewelry, money, firearms and silverware, among other things. If your policy does not provide the full value of any of these belongings, riders are available to supplement your coverage.

Items Not at Home

The Schedule C section of your homeowners policy also provides coverage while you are away from your primary residence in Addison. While this coverage protects your belongings at someone else’s home, in a hotel room or at your ranch, the level of coverage is greatly diminished.

Complement Your Policy with Riders

Riders provide supplementary coverage for any items that are not fully insured by your Schedule C. Because these items are often highly valuable, it is best to purchase riders directly through an insurance agent, rather than online. Give one of our agents a call, so we can review your Schedule C and go over your belongings. If you need one, we are able to set you up with a rider.

Homeowners insurance generally covers common pets, such as dogs and cats (although some policies exclude certain breeds of dogs). Many home insurance policies will not cover damage caused by an exotic pet, though. If you have an unusual friend, you are probably in one of the following scenarios.

Domesticated, But Different

You may have a domesticated animal, but one that is not a common household pet. Horses, pigs, peacocks and llamas are all examples of animals in this category. Depending on the specific animal you have and your insurance policy, these animals may or may not be covered. If they are not covered, you are probably able to purchase a rider for them.

Truly Exotic Creatures

Perhaps you have a more exotic non-human friend, such as a big game cat or chimpanzee. These animals are often not covered by Texas homeowners insurance policies, because they are not fully domesticated. Your insurer may offer a rider for them, or you might have to purchase a spate policy for your exotic animal.

Exotic – And Illegal

Some people, sadly, keep animals at home that are illegal. In Dallas, residents are prohibited from keeping roosters, poisonous snakes, rheas, ostriches, bears, wolves, large cats, primates, deer, antelope, camels and bison within city limits. If you have one of these animals at home, your policy will almost certainly not provide coverage–because you are breaking the law.

Find Coverage for Your Friend

To find coverage for your exotic friend, wither furry, feathery or slithery, get in touch with one of our agents over the phone. Because coverage for these animals is so specific, finding a suitable policy requires a conversation with a licensed agent.