Advice To Take To Heart About Your Home Owner’s Insurance
Make sure you have enough coverage on your homeowners insurance to replace it if something happens. You wouldn’t want a disaster to happen and not be able to replace your home because you don’t have enough coverage. It’s also important to consider the cost of building materials since they are always changing.
You need to remember that you must insure your home, but not the land it sits on. If you purchase coverage for the market value of your home, including the land, you have probably purchased more than you need. Even after a natural disaster, the land will still be there, it is your home that you must insure and protect.
You may think you don’t live close enough to a body of water to have to worry about flood insurance…but think again. Before you decide you don’t need it, assess the flood risk for your geographical area. You will be surprised at the unexpected parts of the country which have experienced floods in the past year or two, and if you live in or near on of these areas, flood insurance may be right for you. FEMA.gov is one site that provides information on flood risks for all parts of the U.S.