Does Your Home Insurance Cover Everything?
When you suffer damage to (or the loss of) your home or its contents, you expect your insurance company to help you. And most do a good job of doing just that.
Still, it’s a good idea to review your policy with your insurance advisor and find out what does homeowners insurance cover and not cover. You don’t want to discover that your policy will not cover the cost of repairing the damage caused by a flood in your laundry room.
Pay particular attention to coverage in the case of water damage. Some insurance policies don’t cover floods and sewer backup unless an additional rider is purchased.
Also, check liability limits. Ask your advisor to recommend an appropriate level. Finally, make sure you know exactly how much your home is insured for. Are you covered for the full replacement cost? Are you comfortable with that coverage or the actual cash value?
Having the right insurance gives you peace of mind and is an important part of enjoying your home.
Keep in mind that experts advise you to review your insurance with your advisor. Ask lots of questions. Make sure you understand your coverage fully.
By the way, if you’re looking for an insurance advisor, I’m well-connected in the local “home” industry. I may be able to give you a couple of names of good, reputable professionals. Give me a call.
Until next time,
The wonderful world of home inspections. There are often a lot of opinions around home inspections, some say an inspection is MANDATORY while others say they don’t understand why we even need them. We will dive…
When buying a home in BC, the costs are not always so cut and dry. It’s more than just the price you put on an offer to purchase a home. These costs show up throughout the…
If you’re like most people, you’ve got a lot of questions about being a first-time homebuyer and maybe even some doubts. How do you save enough for a down payment? What about all those complex terms…
Popular articles from our blog
The process of purchasing a home often raises the question, “When is the best time to buy a home?” While various factors contribute to the answer, it is essential to look beyond timing. Buying a Home…