Homeowners Insurance

Homeowners Insurance

Homeowners Insurance

Homeowners insurance is the vehicle needed to protect, for most people, is the single largest investment they will make in life, their home. This insurance is a package policy, consisting of different types of coverage for the house, its contents, additional living expenses and personal liability claims against the policyholder and other members of the household. Plus medical payments to non-family members injured in or around your home. The policy holder pays a single insurance premium amount for the combination of these coverages.

When you purchase homeowners insurance, it is important to remember to shop for it in the same way that you would any other insurance product. Be sure to compare prices, features, and reputation. It’s tempting to say “Just give me what you think I need” but It is always wise to compare the coverages on your own, so you can determine what is best for you.

Always try to plan ahead so you know what you need when purchasing insurance for your home. Don’t make such an important decision on the spot. This is your home, not the insurance agent’s or lender’s. So take the lead in deciding what level of homeowners insurance to buy and how much of it you need.

It’s a good idea to purchase “replacement value” coverage instead of actual cash value. The cost difference is small and it’s better coverage. An often overlooked and misunderstood option in Backup insurance. This protects you if the municipal sewer systems fail and backup into the house. It happens more than one would think and could easily cost $5,000 – $13,000 to clean up. No, the municipality does not have to pay your clean up bill.

While looking for homeowners insurance, really shop around, prices for identical coverage can vary greatly between different insurers. Get several quotes before buying and pay special attention to the exclusions.