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Pam's Insurance Site

When I bought my first house, I was already going into a lot of debt. I didn't have the money to seriously insure it, so I bought only the bare minimum without consulting an insurance professional. That was a big mistake on my part. It could have turned out alright. That is, if my house hadn't been in the path of a huge storm. Huge gale winds knocked a tree down straight through my roof. My house was practically destroyed, and my minimal policy didn't cover nearly enough. I spent years and years trying to get myself out of that financial mess. Since then, I have always been very cautious in learning about insurance and talking to the real professionals.

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3 Things To Look For In Home Insurance

Once you buy a home, finding a homeowner's insurance policy is crucial. A home insurance policy protects your home and belongings from the unexpected. There are many facets to homeowner's insurance and many things to consider when selecting a policy. Finding home insurance that covers what you need it to and fits into your budget can be challenging. Here's what you should look for when choosing homeowner's insurance. 

Adequate Coverage For Your Home

If you don't read the fine print of a home insurance policy before committing, you may be missing out on the coverage you need. When searching for a home insurance policy, ask yourself how much coverage you need and go from there. Home insurance policies cover rebuilding your home and replacing your belongings, but caps on this coverage may be in place. Make sure any policy you select will rebuild your home and replace your belongings in the event of a disaster. You'll also want to make sure you have enough liability coverage. Most homeowner's policies offer at least $100,000 worth of liability coverage, but $300,000 to $500,000 is recommended.  

What Home Insurance Doesn't Cover

There's more to consider when selecting home insurance than what coverage a policy offers. You'll also want to know what home insurance doesn't cover. Chances are, there are a few gaps in your policy that can be filled with additional insurance. For example, home insurance does not cover natural flooding, and you will need a separate flood insurance policy if you live where flooding can occur. Also, you may need additional earthquake coverage as well. Umbrella and excess liability policies are also available.

Affordable Policy Premiums

Many home insurance companies are out there, making it easier to find a policy that fits your budget. Comparing and contrasting home insurance policies from different insurers will help you find the home insurance that offers the coverage you need at an affordable rate. How much you pay for home insurance will depend on the policy's level of coverage, the age and condition of your home, and where you live. Shopping around is the best way to find affordable premiums.

If you need home insurance, here are three things to look for. First, make sure any policy you select offers adequate coverage for your needs. Second, knowing what homeowner's insurance covers is just as important as knowing what it does cover. Finally, shopping around for home insurance will help you find affordable premiums.