When you suffer damage to, (or the loss of), your home or its contents, you
expect your insurance company to help you out. And, most do a good job of
doing just that.
Still, it’s a good idea to review your policy with your insurance advisor and
find out what’s covered and what isn’t. You don’t want to discover that your
policy will not cover the cost of repairing the damage caused by a flood in
your laundry room.
Pay particular attention to coverage in the case of water damage. Some
insurance policies don’t cover floods and sewer backup unless an additional
rider is purchased.
Also, check liability limits. Ask your advisor to recommend an appropriate
level. Finally, make sure you know exactly how much your home is insured
for. Are you covered for the full replacement cost? Are you comfortable with
that coverage or the actual cash value?
Having the right insurance gives you peace-of-mind and is an important part
of enjoying your home.
Keep in mind that experts advise you to review your insurance with your
advisor. Ask lots of questions. Make sure you understand your coverage
By the way, if you’re looking for an insurance advisor, I’m well-connected in
the local “home” industry. I may be able to give you a couple of names of
good, reputable professionals. Give me a call.