Important Information on House or Home Contents Insurance in Dallas

As you secure your home with homeowners insurance, know that contents insurance is separate and distinct from the insurance policy you have taken out on the actual structure of the house. Major damage to your home, or the complete loss of your home, can be devastating. Tri-Star Insurance in Plano is committed to relieving your stress and helping you return to normality as fast as they can. While Tri-Star Insurance can’t remove the heartache of losing a treasured heirloom, they can advise you in selecting the best house contents insurance to provide you with peace of mind and financial protection against damage to, or the loss of, contents in your home.

Contents insurance is usually sold alongside home insurance but it can also be purchased as a stand-alone policy, especially for those who desire renters insurance rather than owning their home. Homeowners insurance covers the outside, and anything that is permanently attached to the structure of the home. Possessions that are permanently attached to the structure of the home can only be insured via home insurance. Home contents or house contents insurance pays for damage to, or loss of, your personal possessions while they are located within your home. Some contents insurance policies also provide restricted cover for personal possessions temporarily taken away from the home by the policyholder, or may also include possessions kept in outbuildings or in the garden area attached to the house.

Tri-Star Insurance strongly recommends cataloging your home In order to give both yourself and you insurance company a better understanding of the items that are in your home and that are being insured.  An increasingly popular way for people to catalogue the valuables in their home is to travel through the house with a video camera and take video footage of each room.

How does a home contents policy work? Like all insurance policies, home contents insurance works on the basis of the total amount insured. So, when you are filling in your home contents insurance policy submission form, you are asked to provide detail of all the major items that you’re insuring. However, Be advised, however, that most home contents insurance policies have a threshold amount, over which you need to individually declare (and possibly insure) the item as a separate item, and which may not be allowed to include in your overall home contents insurance policy.

Unfortunately, there are no dollar figures that can be calculated for those items of “sentimental value.” Your house contents insurance premiums are calculated on the cold hard cash cost of replacing that item.

All insurance is based on a risk factor, rather, the risk of the insurance company having to pay out.  Home contents insurance is no different; therefore, if you live in a neighborhood of high crime, you should expect insurance companies to request higher premiums. Alternatively, if you live in a quiet neighborhood with little or no reported crime, you will enjoy lower premiums.