Homeowners Insurance Tips

Shopping for homeowners insurance should be based on more than just the best price. Understanding the coverages and exclusions in the policy you purchase can be the difference between having a loss covered or paying for the loss out of your own pocket.  The Wall Street Journal provides some tips you should consider when buying homeowners insurance:

  1. Use a reputable independent agent with access to a range of insurers and coverage options.
  2. Ask about exclusions and wording differences across policies.
  3. Ask about coverage for water damage from sewer or pipe problems, and whether damage to the foundation is covered, limited or excluded.
  4. Ask which items will be paid at “replacement value” versus “actual cash value.” http://on.wsj.com/t5iNfV

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