Why A Homeowner's Policy Review?
Your home is probably your most important investment. BUT… Is your largest asset properly insured? Could you be over insured or under insured?
WHY YOU NEED TO KNOW
- The price you pay for homeowner’s insurance (premium) can vary by hundreds of dollars, depending on the insurance company you purchase your policy from.
- Homeowner’s insurance generally covers the loss of your belongings in case of fire, theft, and certain other casualties. If you must repair or replace property that is damaged, destroyed, or stolen, your homeowner’s insurance will generally pay for all or part of the cost.
- Homeowner’s insurance also protects you against liability lawsuits. If you are sued by someone who is injured or whose property is damaged, your homeowner’s insurance will usually cover a portionof that liability.
AND THERE'S MORE! DID YOU KNOW...
- Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim. Raising your deductible, if you can afford it, may save you up to 25% in insurance premiums.
- The land under your house is not at risk from theft, windstorm, fire and other perils covered in your homeowner’s insurance policy. Do not include its value when deciding how much homeowner’s insurance to buy.
- There are two ways of insuring your personal possessions: Replacement Policy, which pays the dollar amount needed to replace a damaged item with one of similar kind and quality without deductions for depreciation,and Actual Cash Value Policy, which pays the amount needed to replace the item minus depreciation. Do you know which policy you currently have?