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The thing about home insurance is that not all your household items are covered. Depending on the coverage you’re getting, you can get only a few important appliances covered or have everything insured. The more comprehensive your plan is, the more expensive it will be.
I understand it can be confusing as a homeowner. We are not always the best judge of our household items performance so we don’t know exactly what to protect.
You can lose home equipment in various ways, heft, weather, flooding, fire and accidental misuse, etc.
If it cost you a fortune, you may want to insure those appliances and tools that usually have very high replacement cost. You can get a very cheap one-time insurance premium to cover such items.
Please do have it mind that normal wear and tears are not covered under such insurance. Please read the terms very carefully before purchasing insurance for household items.
In this article, we’ll help you out as we discuss the top ten things in your home that you should get insured.
- Refrigerator
A refrigerator is one of the most expensive appliances you will own. It stores all your day-to-day nourishment so it only makes sense to include it when you’re considering one of those home protection plans.
You’ll be surprised by how long it lasts if you maintain it regularly. We moved to our current home in 2014. Our refrigerator was 2010 made. It’s still running smoothly for us.
- HVAC System
If you’re living in an area where the climate can be extreme, it’s important that you get your HVAC system covered.
When the worst happens and it breaks down, you don’t want to be left suffering from heat or cold. As soon as you notice a problem, you can call the insurance company right away and have it checked before it gets worse.
- Water heater
Speaking of the heat, nothing is worse than showering with normal temperature water in cold weather. NOTHING!
The most common way a water heater breaks down is through leaks. It could also be an issue with the faulty thermostat that prevents the appliance from heating enough water.
Who knows? Take out the guesswork and let an expert look into the problem for you!
- Plumbing
Certain things we can’t fix ourselves. That includes plumbing. Leave your DIY habit on this one and let the insurance company call an actual expert to fix this one.
Earlier this year we had a leakage and we had to replace the flooring of the entire house.
- Lighting Fixtures
We don’t really appreciate how wonderful home lighting is until it’s gone and we’re left in the dark, literally! Make sure it’s fixed as soon as possible by adding this item to your insurance coverage.
- Washer and Dryer
The most common problem with laundry equipment is leaking.
To ensure you aren’t stuck with a month’s load of laundry due to your washer not working, you have to also include this on your list of household items to ensure.
You’ll save yourself the hassle of having to go all the way to the washer to get your clothes cleaned.
- Toilet, Tubs, and Showers
We like to get squeaky clean but rarely do we want to get down and dirty to find out what’s going on with our bathroom fixtures.
Include this on your list of household items to get insured and you won’t ever have to touch the toilet with your bare hands!
- Wiring, Switches, & Outlets
These can be too risky to fix by yourself so you’re better of hiring a professional who can fix your wiring.
Also, it is prohibited in some states to do electrical work yourself.
Sure, you can perform basic ones but the more complex wiring problems require the hands of a licensed expert.
- Specialty tools
If you own special equipment, let’s say for your yard or swimming pool, you can include it in your home protection plan It can be expensive to repair these items and you can definitely save more money in the long run if you get these insured.
An expansive DSLR camera can be one such gadget that must be insured, either through the credit card you buy it with or a separately purchased insurance.
- Doorbell
I’m not just talking about a regular doorbell here. We’ve got some of the most sophisticated doorbells today that comes with a built-in camera and movement-tracking sensors.
If your security is important to you, best to get your doorbell insured as well.
Based on your financial situation and the cost of replacement you may or may not need equipment insurance. But you should, at least, carefully plan.
What other household items are you thinking of insuring that’s not on this list? Share your thoughts in the comments!
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Hi Sudipto! Loving your writing, it’s concise and informative.
While I agree with most of what you have listed, I think that toilets, tubs and showers don’t have as much importance as the others like refrigerator — at least not to the point of needing insurance. It’s pretty much throwing money down the drain, pun intended. In the five years living in my place, I haven’t had a single issue with my shower or toilet that couldn’t be fixed in 20 minutes. It feels like a bad idea to pay for insurance on something that may only see full out breakage every 5 years or so.
Regardless, keep up the awesome quality SB.
Hi! The items you list are all very important to keeping a safe household running. What it really comes down to is making sure that you have the best homeowners insurance coverage. Be sure you understand the type of homeowners insurance policy you have and its valuation type.