Home Insurance – often overlooked
Home insurance is often overlooked. It costs less, so we think about it less. There aren’t cute reptiles or amphibians that remind us about our house insurance on our Televisions.
However, home insurance is a critical part of our financial planning. Why? If your homeowners insurance isn’t set up properly, you may wind up losing all the money you have saved and invested.
To a lesser degree, this is true of renters insurance. Renters insurance is thought of even less often. Often people are unaware that apartment renters insurance even exists. Families who live in apartments often have thousands of dollars of possessions that are at risk to fire, to burglary and to other perils. Protecting your possessions properly keeps your finances in tact.
Do you have enough coverage to replace your home or your important possessions?
If the cost of construction has gone up in your area, you should make sure that your homeowners insurance policy has a high enough limit to cover that costs. Remember not to over insure by insuring the cost fo the land. Typically the cost to rebuild your home is much less than the price your house would sell for.
Are you paying the lowest price?
It pays to shop around. When shopping around be aware that you may pay less if you insure your car and home with the same company.
Questions like these should be reviewed with a home owners insurance professional. Protecting your home is protecting your savings. Being without house insurance can be just as devastating as being without automobile coverage.