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St Louis Home Insurance
St. Louis Home Insurance
A complete insurance package, St. Louis Home Insurance covers most insurance needs that a normal person has. When we say complete, it is because this insurance package ,insures your personal belongings and real estate assets, as well as cover personal liability. Because of its all round cover, St. Louis home insurance is the most suitable insurance plan for most people. Specifically, it covers four main categories:
Homeowner Dwelling And Personal Property, Liability, Medical Payments and Additional Home Living Expenses.
Home Dwelling and Personal Property Coverage
Under this are covered your house and your belongings. Home dwelling refers to coverage for your property and everything built on it i.e. the main house and any other sheds or stores or an out-house that you may have. If you’ve built any structures away from the main house building, they are eligible for 10% of the total coverage provided by your insurance plan.
Personal property, as is clear from the name, includes all your private possessions like appliances, jewelry, furniture and other items common household items. Your car however is not included, and needs to be insured separately. The rest of the personal possessions are covered for around 50% of the total amount.
Personal Liability Coverage
Personal liability cover is basically accident insurance that provides financial cover in case you’re in an accident and someone gets hurt while they’re on your property. The inclusion of personal liability cover in your St. Louis Home Insurance plan ensures that all expenses including legal fees and any compensation are taken care of by your insurance. This plan covers all family members and even pets so you don’t have to worry about your little (or big) doggy.
There isn’t a minimum amount that you need to meet in order for the insurance to pay, but there is a limit (usually $100.000) which can be raised if you so desire.
Medical Payments Coverage
Medical takes care of all your hospital bills and treatment costs in case any member of the family suffers from a disease or an injury, however minor or major.
Additional Living Expenses
This refers to the expenses incurred if due to extensive damage, your house remains unfit for living and you need to move to a new apartment or maybe stay in a motel. The charges for up to 12 months are covered by the insurance up to a total of 20% of the insurance amount.
If the above 4 things don’t take care of all your needs you can always purchase additional insurance. This add-on insurance can be for any of the following purposes:
As the name suggests, this particular add-on pays for removal of any debris from your property that might have resulted from floods or storms.
Trees, Plants and Shrubs
This add-on allows you to insure trees or plants on your property for up to $500 per piece.
Credit Card Coverage and Identity Theft
With an increasing number of cases of identity theft and credit card fraud, this add-on covers you for up to $500, which is also the common daily limit on a normal credit card.
Another possible add-on that you might wish to purchase as it is not part of the normal package.
Types of Home Insurance Packages in St. Louis, Montana
In St. Louis, Montana, you can opt for one of the following three home insurance packages:
HO1, HO2 and HO3.
HO1 is a basic plan with limited cover. HO2 and HO3 are premium plans with extended cover, HO3 being the most extensive plan available that covers almost everything with the exception of natural disasters.
HO1(Basic Coverage) insures you against the following perils:
Lightning and Fire
Damages to Cars and Aircrafts from Earthquakes
Mischief and Vandalism
Riots and Civil Unrest
Windstorm, Hail and Hurricanes
Accidental Water Damage
HO2 (Extensive Coverage) insures you against the same perils as HO1 as well as:
Building and Home collapses
Water and Steam Damages Incurred From Plumbing and Water Heating
HO3 (All Risk Coverage) covers just about all perils. It is easier summarized by the things it does NOT cover:
Property Damage from Earthquakes
Vermin Infection (mice, rats, insects)
Freezing Damages While Your House Was Unoccupied (Except if you turned of water or turned on heating)
Wind or Hail Damage To Shrubs and Trees
Vacated Home Expenses (Expenses incurred while you were away from your home for over 60 days in a row)
Maintenance (Wear and Tear)
Water Seepage Damage.
How Do You Choose St. Louis Home Insurance Limits?
It is essential that you choose the right limit for your insurance because this is the sum from which all your sub insurances will be covered. Hence, here are some things you should keep in mind when deciding limits for your insurance:
- Prepare a proper inventory of your possessions and property, including original bills/receipts.
- If you think you can afford to take care of smaller expenses on your own, then a higher deductible will allow you to keep a higher limit on your insurance.
- If you are in possession of objects of whose value you are unsure, get a proper evaluation done. These things may include antiques, art, silverware etc.
What determines the price of St. Louis Home Insurance?
The price and premium you need to pay depends primarily on the plan you choose (HO1, HO2 or HO3). Your personal deductible is another factor that influences what you pay. Other factors may include:
House Construction and Property Age
Newly constructed houses are less expensive to insure since the risk of them collapsing or suffering great damage on accounts of bad weather is less.
A history of bad credit goes against you when applying for insurance.
Deductible is essentially what you can pay by yourself and hence are not paid by the insurance. Say you have a scooter worth $600 that gets stolen. If your deductible is $200, then you can claim only $400 for the stolen bike. Higher deductibles have the advantage of lower premiums.
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