Tuesday, January 20, 2009

What Does Fire Insurance Cover?

Definitely NOT Your Hard Drive.
Every month as a homeowner or commercial property owner you'll pay premiums to protect your investment (high risk areas will pay even more). Although it would be great if a fire never happened, the risk is there. After you have filed your claim, the insurance policy will be able to replace your furniture and house, but not your family photo album. Digital photos stored on your computer should be backed up no matter what, now you have the option to store these photos in a fire and flood protected (think fire hoses) hard drive. This type of insurance is priceless. How much would you pay to get your hard drive back?

It can be argued that the majority of computer users and business owners do not back up their data at all. Those that do are paying for external hard drives that offer little more than 'blinking lights' and 'flashy packaging,' offering some value but certainly not insurance against fire and flood. ioSafe Solo hard drives have become a trusted brand for data backup by businesses and personal users worldwide. With ISO estimating that fire losses associated with homeowners insurance claims (including FAIR Plans) accounted for 58 percent of total insured fire losses in 2007. (Source: ISO ) fire coverage is an important part of your planning.

The next time you visit your local agent, think about the risk calculator that they are using and consider if your data is also worth protecting.

No comments: