getting insured

Are the two of you covered no matter what? Find the insurance coverage you need and answers to all your insurance questions right here. Let's start with you and your honey: We've got health insurance information to help you choose the right plan and advice on how to get and keep health insurance even if your circumstances change. We've also got the inside scoop on life insurance and disability insurance. Now let's move on to some of the key parts of your life, like where you live. We have home owners insurance advice to help you understand what kind of policy you need, what's covered, and what to do when you need to use it. Besides the house, what about your wheels? You'll find answers to all your auto insurance questions, including how to cut car insurance costs. And let's not forget the little things! Ever thought about insuring your engagement ring? It might not be covered by your renter's or home owner's policy, so you ought to check if you have ring insurance. We've also got general insurance advice that can help with all your coverage, from the eight tips newlyweds need to know to tried and true tricks from real Nesties about insurance. You can also chat with other Nesties to get insurance advice right here. Whether you've got auto insurance questions, need home owners insurance advice, want help with health insurance information, or just want the dirt on insuring your engagement ring, you've hit the right spot.

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How to Decide How Much Home-Owner's Insurance You Need

Make sure your pad is protected -- no matter what life throws your way.

Buying a home is a big, big, expensive deal, so it’s important to protect your investment in case of fires, natural disasters, floods, burglaries or other unpleasant events. That’s where homeowner’s insurance comes into play. But how much coverage do you really need (after all, insurance, plus that hefty mortgage payment, can make a serious dent in your checking account)? Here are a few tips to help you figure out the right amount of insurance for your nest.

Choose a Basic Policy Type
There are two basic types of homeowner’s insurance: You can buy a policy that will pay a set lump sum -- which is calculated based on the market value of your house at the time it is purchased -- should anything go wrong. Or you can buy a policy that will pay you the house’s estimated replacement cost at the time of the loss or damage. This type of policy takes into consideration the appreciation (or depreciation) on your house (translation: how much the value of your house has increased or decreased). This option is more expensive, but if you’ve put a lot of money into the house to fix it up, it’s generally worth the extra money.

Consider Your Risks
You’ll want to consider what is covered under various policies. For example, risks like fire are covered by most basic policies, but from there, you’ll want to consider the kinds of risks you’ll be exposed to based on where you live. There is additional insurance to cover most catastrophic events like flooding, hurricane and earthquakes, and if you live in an area particularly prone to flooding or hurricanes, you may be required to purchase specific additional insurance to cover those risks.

Don’t Forget What’s Inside the House
You’ll need to consider how you want your basic possessions, like furniture, jewelry, etc., covered. You can buy coverage based on their cash value now or their replacement value at the time of loss. But if you choose the former, which is generally less expensive, you’ll get less money in the event of damage or loss, as the value of these items will almost always depreciate based on age and condition.

Be Sure to Get Liability Coverage
Finally, you’ll need to decide how much liability coverage (read: insurance to protect you in case someone gets hurt in your house and sues you for the damages) you’ll want the policy to provide. If you plan to have kids or have anyone work on your house (whether it’s a landscaper or builder), you’ll want to make sure you’re adequately covered or you could end up losing your house in the event that you’re sued for an accident that took place on your property.

-- The Nest Editors