One of the first things you think of when buying a home is insurance for your house and car. If you want to start a family, health, dental and life insurance are of course a must.
And then there’s quality of life insurance. By this we mean insuring the things that enhance your life: your cherished possessions. Maybe you’ve inherited your great-grandmother’s tea set. Or your great-uncle’s pipe. Or a long-ago ancestor’s painting or book collection. And you surely have recent purchases that mean a lot to you.
Whether old or new, possessions aren’t just material things. They’re the ingredients of a nice home and a nice life. This is why your homeowner’s policy should encompass coverage for your belongings. If you lose family heirlooms in a fire, it’s true they can’t be replaced, but you should at least be able to buy similar ones on eBay that will help preserve your memories. And you should be able to replace any modern possessions that get damaged by flood, fire or mold.
If you’ve had a flood or fire but your possessions survive intact, you’ll need to move them out while restoration work is being done on your home, and you’ll need an insurance company that will store them for you and keep them in optimum condition. If your possessions are damaged but salvageable, your insurance company should pay the cost of repair and restoration services.
These are things to keep in mind when choosing an insurance policy. We’ve all been taught that possessions are not the most important things in life. Maybe they don’t matter most, but they do matter.