January 08, 2013 :: Posted by - admin :: Category - Uncategorized
Many business owners are almost fanatical about the need to keep their businesses properly insured against any conceivable risk. When they go home for the night, however, they spend their time in a place that is much less protected against risk than they suppose. Of course homeowner’s policies offer blanket coverage for all sorts of different risks and hazards, but most homeowners tend to regard their policies as something that they sign up for and then never think about again.
Unfortunately, as construction costs continue to appreciate and liability protection remains constant, a gap can emerge between the two. This could potentially leave a homeowner far short of the protection he truly requires and no doubt believes he already possesses. The solution to this dilemma is to treat your home in the same way as you treat your business.
There are two basic ways to go about this. The first is to simply sign up for a comprehensive replacement cost policy that will restore your property regardless of what it costs. In this case, it is important to make sure that the policy covers your home and all of its improvements as it exists today and not as it existed twenty years ago before you built the guest cottage and finished the basement.
The other method of applying business sense is to ask your agent to perform a homeowner’s insurance review. Let him come out and check that you are properly insured. You are not obligated to take his recommendations, but it helps to have a professional consultant’s opinion when it comes time to make financial decisions.
Regardless of which avenue you choose, it only makes sense to treat your home and family with the same protective care that you offer to your business premises and employees.
This post is contributed by writers at mississippihomeinsurance.com.