What Should My Homeowners Insurance Include?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Most clients opt for minimum coverage and yet there are coverages that might be applicable to you that could save thousands of dollars.   The first thing to consider is that neither flood, nor earthquake are covered.  25% of property damage in the USA is caused by…..flood.  Even if you are in a dry area consider getting a flood endorsement or policy.  Earthquake coverage must be offered so the details about that coverage are normally available.  Water damage from sewer back-up is a vital coverage particularly to older homes.  Older homes also need coverage for ordinance changes that mean that your home would be more expensive to repair if there is a partial loss.  A careful inventory of your personal property would probably uncover value that isn’t covered by the policy.  There are restrictions on several categories of property…watch out.  The last that I will mention is probably the most important, opt for the highest liability coverage that you can get from your company and then inquire into an umbrella.  A lawsuit will ruin your weekend!!!
    Answered on August 5, 2014
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