Make Use Of Insurance

You can make your insurance policies really work for you
by taking advantage of the insurance coverage those
policies offer that you may not even know about — and, in
the process, avoid paying for unnecessary coverage.



Trailers: If you own an expensive camping trailer, you
can insure it best and most economically by adding
the trailer to your car insurance policy.
Because car insurance covers only the trailer, add
Special Perils contents coverage to your
homeowner’s policy to get better coverage for the
belongings in your trailer in case of damage from a
collision or overturn.
Instrument rentals: Parents commonly rent
instruments instead of buying them, especially for the
child’s first instrument. The rental agency requires
you to insure the rental. You can insure that rented
guitar under your homeowner’s policy for $4 to $8 a
year (as opposed to the rental agency’s insurance,
which can run almost $100 a year).
Be sure to include the rental agency as Loss Payee on
the schedule so its interest is properly covered.
Valuables: If you have any kind of property that’s
quite valuable and could be stolen, such as jewelry or
fine paintings, install a central burglar-and-fire
alarm. Installation costs are often $200 or less. The
monthly cost to monitor the alarm is about $20. You
reduce the risk of losing an irreplaceable treasure, and
you receive 10 to 20 percent off your homeowner’s
rates.