34 Wednenday, June 11,1897 ~ North Shore News

an ome bases
"for unexpected

misfortune © |

THERE'S no place | like I
home. But does your f
. home insurance protect f).
your home in the way.
you think i it should?

- Basically, homeowner
insurance covers. both the

buildings“ and: the :contents -

"and will compensate for direct :.
loss or, , damage: caused by
“perils.” rils. may be
ied indivleaby or described

s “all risks.” "Be aware that if
. peril, is: not “named : (for
egal wind. damage, ‘theft
or fire), you won't be covered

* Another i important point is
“he method of settlement) Is it’
“Replacement ‘cost or.-actual:

a an item will be veplced by | the
insurance!company at today’s :.,
value.’ That ‘means’ the: ‘couch

replacement cost less the accu
“1 depreciation.
t as appealing, an

Rave‘a -dolfar_limit‘on: items’
such as jewelry,’ furs, comput-

¢ software. and collections *.

(coins, stamps, art, antiques)...
U’s_agood ‘idea ‘to: have.
ese kinds of items appraised.

“Check ‘what the ‘limit’ is’ on’.

‘our. basic: policy. If the limit.
pels i pati value: of |
your Property, you. may; need
an’ enhanced ~ policy. with

xtended c coverage. =:
‘One®: new *. development .,
any people e unaware of is:
that, “beca
theft, ‘most insurers now put:
bicycles, ‘That; means :

‘of ‘increasing

t

~ 4, 000 Yetl mountain
bike may not be filly covered

“by. your basle homeowner's...

“insurance in the event of loss

| or damage,

Do you have a freezer full

of filet mignon? Tt may sur- 2

rise you, but freezer contents
rave limits, Look at the sub-

limit on your’ policy — it’s >

probably about $2,000, If
your freezer, ‘contents, are ,
more valuable you may want
to seek additional coverage.
Many people today operate
businesses out of the home. A
basic homeowner's policy will
cover only incidental damage
or . theft. of . business-related

~ property,

ome and bring
your laptop -home and it’s

stalen, chances. are,» you're :
* covered. But if you run a com-.
puter consulting service from

your. home .and ‘somebody

steals: $4, 000 worth of busi”

ance al not cover it. .

» The.same goes for busines .

liability. pa ost
". Ona ‘homeowner’ s policy, ‘
- business. liability is covered’

‘only, on ‘an’ incidental : basis.
That means: if:you do. small-

__ seale'casual childminding’ for
° remuneration and an incident
- occurs,” ‘you’

“covered.
If, however, you ‘Tuna reg:
ular. business from home, you~

vneed a “commercial “i insurance

policy i in case of liability.
“Some companics
special home

» endorsement, .on a homeow

er policy, but check the limit
One‘of the ‘most contro:
vertial and confusing aspects
“homeowner's insurance
ig | water ‘damage.
Coverage’ for water : damage
depends largely on. how. the

damage. happens."

3 he safest route is to have
broad « water

‘CONSULTATION

= 985-7455

BRIFs &
Annuities

Minimum - : |

10th Yr. Furd Value

or example; if you work
outside the

maces.

either part of your basic policy :
or. a Separate endorsement:

Make sure you understand the, «

conditions for a claim, or'you
could: be, well, up the creek
without coverage,

“Another: critical polnt is:

extended vacancy,

1}
hos

ihe

“Do you have
filet mignon? It.

“moved into a a new / home ind
still own trie previous resi:
dence,, (The term:'“vacant”
“means so have. vacated the |
building and do not plan to
return there to live, It does

_ Not’ apply, to extended ‘holi-.
"days Where you plan to return:

wot
“

1 4,
he, ; i

freezer. full ‘of
‘may surprise you,

but freezer contents have limits. ”
4 ” 2 :

1

automatically: ends. when. the |

premises have been vacant for

more .than | 30: consecutive

‘days — for example if you ‘ve

. we
Insurance “coverage on
your home. and its contents.

a

Woon.
“to your have, pie.
For periods longer than 30.
days you need to'arrange for.a
vacancy permit. 8
There are’ several, different _
~ types of” policies. ” Thes

NDS © | sy)

fo JULY eye, .

«14540 Riverside Road ince
*, §850 Kingsway Avenue (eapa
‘Open Sunday‘

"2764 Barnet Hy, {Coquitiam)

858 283 ;

2 ABT- A771... 2 an No. 3 Rd. (Rihraond)

pen Sunday ;
051 No, Bd. (Richmond)

fy

‘include thé “compreheishe,
basic, .-and broad
o'(names vary among insurers).
A comprehensive’ policy
insures both ‘buildings and
contents, against’ all risks,
‘unless the cause of “damage or
loss isexcluded,,
oT f saving money is your pri-
ority, a- basic policy: will cover

* only: named : perils,’ or .those

puch are included i in'the pol:

the two above,

uilding/ ‘and. _named perils
», CoVerage on the contents.
Ask your’ insurer about th
" advantages’‘and disadvantages

“of these;/different, policies to’
"sec ‘which one suits you best.

” When buying home insur-
ance;: look carefully: at the
terms of settlement and at the

policy:

We
925-5743; “Lynn Valley,

amount “of ‘thi :

uestions: and revle

clauses, oe" ;
If you ¢ already: have home:
owner insurance, review’your
policy to make’ sure ‘it’s upto
date rf terms of its coverage of
the building,” property, ifimits
and liabilities.’

Even . the ; best “insurance

policy cain’t, compensate: fe
the grief and stress of an une

: pected misfortune: But it’s

rhe broad policy combines ‘
fering com-.

»- pghensive coverage to ‘the |.

to Yo to, cr pokey

ancouver,: