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Property insurance provides protection against risks to property,
such as fire, theft or weather damage. It combines insurance on the
home, its contents, and, often, the other personal possessions of
the home owner, as well as liability insurance for accidents that may
happen at the home. Contents insurance is sometimes separate, this
is often the case when people are renting a house. Also known as
house insurance, home insurance, home owner insurance.
House Insurance - under house insurance
you are generally covered up to the cost of completely rebuilding
the house. You have to make sure your insurance company knows the
exact size of your property, because they will only pay up to the
insured amount. They generally go by floor area, and this includes
balconies, decks, garages, along with the living areas of the house.
Contents Insurance - this insures all the
items in your house that are not fixed to the property. Items such
as TVs, beds, tables, etc. You are generally insured on the total
value of your contents, but you may have to itemize some of the
contents. It is also a good idea to keep all receipts, it saves time
and hassle on making claims. Some people also like to video all the
contents of their house for further proof.
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