What You Should Always Know About Your Home Insurance

Key things to know about your homeowners policy.man doodling a cartoon house and dollar signs

Many homeowners never bother to read through their insurance policies.  Oftentimes, they don’t review their coverage until disaster strikes.  Unfortunately, this is when they learn about their policy’s coverage limits and exclusions.  Rather than waiting until the last moment, there are certain key pieces of information that you should always know about your homeowners insurance.  Here’s what you should review your policy for.

  • Your Coverage Limits

All insurance policies have their limits, and your home insurance policy is no exception.  Your homeowners insurance likely comes with varying limits for different areas of coverage.  For instance, your policy probably places specific dollar limits on things like dwelling and personal property coverage.  Make sure you read through your policy and work with your insurance provider to determine if your coverage limits are high enough to address your risks.  If you need to increase your limits, then your insurer should be able to make these adjustments for a small premium increase.

  • Your Covered Perils

Many homeowners make the mistake of assuming that their homeowners insurance protects them from every threat that comes their way.  However, there are certain perils and damage events that will not be covered by your standard home insurance policy.  For instance, regular home insurance will specifically exclude coverage for floods, earthquakes, sewer backups, pest infestations, and issues related to a home business.  To ensure that you are not caught off-guard by a coverage gap, make sure you read through your policy and speak to your home insurer to determine exactly what your policy will cover.  Keep in mind that there are various insurance endorsements and specialty policies that can fill your coverage gaps.

These are the key things to know about your homeowners insurance policy.  Do you have further questions about your home coverage?  If so, then contact the experts at ISU-Wissink Insurance.  Our dedicated team is eager to assist you with all your insurance needs today.