Homeowners Insurance Quotes Hit Hard by these High Priced Items

September 22, 2009 (PRLEAP.COM) Business News
According to a recent InsuranceAgents.com article, '10 Purchases That Increase Homeowners Insurance Quotes,' having high-priced items among your personal belongings will increase your homeowners insurance quotes significant. It seems the finer things - new laptops, 3-karat diamonds, beautiful artwork, maybe a gazebo in the backyard - lead to vast jumps in homeowners insurance rates.

"Because home policies typically cover your personal belongings, insurance providers have to take precaution against any expensive items you buy and their likelihood of being stolen or damaged," the article states. "The more your belongings costs, the higher your homeowners insurance quotes will increase."

Here are the a few main purchases that will increase the cost of homeowners insurance quotes:

1. Antiques
2. Jewelry
3. Electronics
4. Artwork
5. Collectibles
6. Home additions/improvements (i.e. a gazebo, a refurbished basement, etc.)

"Items like one-of-a-kind artwork, rare antiques or your engagement ring are likely to make the most impact on your homeowners insurance quotes, because they are hard to replace and have much larger price tags on them," according to the article.

If contents insurance coverage limit isn't high enough to cover higher priced items, homeowners should update their policies. It's a good rule of thumb, to make any of the above purchases, homeowners should contact their insurance agents to update and adjust limits and coverage.

To find more affordable coverage and keep costs down, try to obtain several homeowners insurance quotes online. Visit InsuranceAgents.com for more help and information.

staff contribution: Meha Ahmad