Home Insurance Daily Guide

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• Scheduled Personal Property. This additional coverage protects different articles like furs, stamps, jewelry, computers, guns, coins, antiques and all other items that exceeds the normal limits of insurance policy. Usually, the coverage that this additional endorsement provides is greater or broader that that of the insurance policy itself.
• Secondary Residence. The protection provided by this is for some second house like summer residence.
• Theft Coverage. This protection covers personal contents of motor vehicle, watercraft or trailer if there’s no proof of a forcible entry.
• Credit card forgery. This coverage gives protection against any form of theft, fraud, forgery and unauthorized transactions and use of your credit cards.

Over the past few years, the cost of premiums have risen dramatically. From 2003 to 2004, premiums for all categories of insurance rose at an annual rate of about 4.8% according to the Insurance Information Institute’s current edition of the Financial Services Fact Book.

Meanwhile, “multiple-peril” coverage or premiums which cover hurricanes, tornados, earthquakes, and other weather-related disasters increased 8.5% over the same period.

In 2006, homeowner’s premium costs rose another 6%. They were expected to rise another 4% in 2007. An estimate conducted of the average household’s allotted expenditure for the homeowner’s insurance concluded in 2006 was around $835.