What Kind Of Coverage Do I Need For Homeowners Insurance?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   You need “all-risk” protection.  While these policies have a list of exclusions they provide the broadest possible definition for risk and cover most eventualities.  This is probably the coverage that your mortgage company will require.  There are crucial exclusions such as flood and earthquake.  This coverage can be included for an additional premium.  Your lender may require that these coverages be added.  There are a couple of other options such as replacement cost coverage on contents and water back-up that merit consideration as well.  

   Answered on March 5, 2014

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