Good thing you're insured!

Home & property insurance covers most damages, but not all. Here's an overview of the main coverage available for the most common perils-fire, theft, and water damage.

• A fire started in the basement? Rest easy, your home and its contents are insured.
• Someone broke into your home while you were away? Luckily your property is covered, although some limits may apply. For example, the maximum indemnity for software varies from $500 to $1,000; for jewelry and furs, from $1,000 to $2,000; and for CDs, DVDs, and videos, up to $2,000.
• Pets or materials that are stolen from a building during construction are not covered.
• Water ruined your beautiful oak flooring? Yes, damages are covered as long as they were caused by problems with public sanitary facilities or by certain household items freezing (e.g., air conditioner).
• However, water damage is not covered if it is caused by flooding due to spring runoff, repeated leaks or overflows, or seepage through walls, doors, or windows.
• Went on vacation and your pipes burst during a freeze? If you took the necessary precautions, there's nothing to worry about. If you think you'll be away for 4 days or more during the winter, ask someone you trust to check on your heating system every day. Or, you can drain your pipes and shut off the water. If you don't, you may not be covered if your pipes burst.
• Sewage, septic tank, and gutter backups are covered if you have the necessary rider.
• What you should remember...
  
  

  ... in case of fire

  Don't sign any agreements with independent insurance adjusters or contractors while you're still in shock from the loss.

  ... in case of theft

  • Don't enter the house. Call the police from your cell phone or a neighbor's house.
  • Ask for a copy of the police report. You'll need it for your claim.
  • Don't throw away the packaging of articles you've replaced. A second burglary could happen soon after.
  • Think about installing an alarm system if you haven't already.

  ... in case of water damage

  • Drain all water, dry everything immediately, and clean thoroughly.
  • Throw out any wet insulation or other wet items such as furniture, mattresses, and stuffed toys. Mold can grow on wet materials, contaminating your home and causing illness.