How do you know you are REALLY covered with your property insurance?

How do I know that my personal things are protected with property insurance?

 So you are loyally paying your Atlanta renters insurance and home insurance premiums religiously for years. Thankfully you haven’t needed to file a claim yet. But what if you needed to do so tomorrow… Would you be covered like you would hope to be? It all depends on what kind of riders you have added to your policy. Your Atlanta home insurance company offer “riders” that can be added to your policy to provide additional coverage.  For example here are two riders that you can select:

• Actual Cash Value: The coverage will pay out on what the property  is worth at the time of the loss.  As you can imagine  this takes into consideration depreciation of the item based on  the Age of the item,  market value and the condition of the property at the time of loss or damage. In other words a $1,000 TV when new might only be worth $150 now after a few years of use.
• Replacement Cost: This coverage will write you a check (minus the deductible) for what it would cost to REPLACE the item and buy you a new one if damaged or destroyed. It ignores depreciation completely.

In fact Clark Howard suggests that “replacement value” is the way to go on his radio show. Of course you will need to request this rider as it isn’t automatically part of your property insurance policy. In fact we would suggest adding this rider to anything you have that would be expensive to replace, like expensive jewelry for example. If you are unsure about what kind of homeowner insurance protection you have or would like to learn more about replacement value riders then all you have to do is click, call or come by and visit for awhile. Lloyd Pro Group and Nationwide insurance have been providing Georgia home insurance for Atlanta since 1985. They can be reached at (770) 497-1200