Tips for Buying Homeowners Insurance

Tips for Buying Homeowners InsuranceA home with sturdy walls and a roof over our heads is what gives us protection from all the elements outside. But what gives the home protection?

Insurance is a must for every homeowner. If you think that insurance is a luxury, well than you have to rethink and consider it as a necessity. Each home needs to have insurance, regardless of its worth.
  • If you are exposed to any chance of severe flooding, even if you don’t live anywhere near a body of water, talk to your agent about flood insurance and check out the government flood insurance website at FloodSmart.gov.
  • If you work from home even part time, you need to add an endorsement to your homeowners insurance called “incidental occupancy endorsement.” Homeowners policies, besides covering your building and contents, also cover personal liability, including liability for guests injured on your home premises.
  • Speaking of liability coverage, be sure to standardize your liability limits on all your policies — auto, home, cabin, boats, etc.
  • If you have any income or assets that you are concerned about losing in a lawsuit, add an extra layer of protection on top of your basic policies in your insurance portfolio — called an umbrella policy — of at least $1 million or more.

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