Sioux Falls company group health insurance small

Sioux Falls company group health insurance small

Consumer Alert:

For insurance purposes, it is important that you know the difference between “vacant property” and “unoccupied property.” A dwelling is vacant if it is empty and unfurnished. A property is unoccupied if it is furnished but the owners are not living there at the time of the loss. The distinction can be very important, as many of these exclusions demonstrate.

Personal Property

An important part of the coverage of any homeowner’s policy is the portion that protects personal property—items such as furniture, stereos, appliances, and the like.

Personal property is covered as long as it is owned or used by the insured, anywhere in the world. In other words, the loss to the property need not to occur at the covered dwelling. The personal property of others can also be included in the Sioux Falls company group health insurance small, if it is located at the residence occupied by the insured. Thus, personal property owned by the tenant in a rental house would not be covered by the homeowner’s policy, but personal property brought by a guest visiting the policy owner would be.

Coverage for personal property is not unlimited. In fact, unless endorsements are purchased (see   20), the Sioux Falls company group health insurance small protection can be rather limited.

You are entitled to receive the actual value of your personal property at the time of loss. Note that this is not the replacement value, which is usually a far higher amount. Also note that there is a limit of coverage in which benefits for the loss of Sioux Falls company group health insurance small do not exceed 50 percent of the total amount taken out to protect the dwelling (Coverage A). (If you have property located at a secondary residence, the coverage may be less.) Thus, if you had your primary home insured for $100,000, you would be protected for no more than $50,000 for loss of Sioux Falls company group health insurance small.

Limits of liability. There also special limits of liability that apply to the insurance company’s liability for the following items:

• $200 on money, bank notes, bullion, gold other than gold ware, silver ware other than silverware, platinum, coins, and medals. In such cases 200 bucks isn’t very much, so if you have such items of value you want adequate protection, you are going to have to pay extra for it.

$1,000 on securities, deeds, evidences of debt, letters of credit, notes other than bank notes, manuscripts, passports, tickets, and stamps. Again, items such as this often have a higher extrinsic value and you may need to purchase extra Sioux Falls company group health insurance small coverage.

$1,000 on watercraft, including their trailers, furnishings, equipment, and other motors. Since coverage is so low, consider purchasing boat insurance if you own one.

…Continued in Sioux Falls employee benefit