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Coverage Questions

Are there different types of policies?

Yes. A person who owns his or her home would have a different policy from someone who rents. Policies also differ on the amount of insurance coverage provided.

What is homeowners insurance?

Homeowners insurance provides you with financial protection in the event of a disaster or accident involving your home.

Standard homeowners insurance protections

A standard homeowners insurance policy insures your home's structure (house,) and your belongings in the event of a destructive event, such as a fire.

Mobile home insurance

It's important to protect your home with insurance and, if your home happens to be on wheels, there are some special considerations. Much like choosing the right mobile home, you want your insurance to fit your needs and lifestyle, but you also want the coverage to fit within your budget. Here are some guidelines for choosing mobile home insurance.

Making sure your home is properly covered for a disaster

For many people, their home is their greatest asset, so it is crucial to avoid being underinsured. To properly insure your home, it is important to ask your insurance professional four key questions.

Are there any disasters my property insurance won't cover?

Yes. Floods, earthquakes and acts of terrorism are generally not covered.

Protection against flood damage.

Property insurance policies usually exclude coverage for flood damage. Find out from your local government office or your commercial bank whether your business is located in a flood zone. Also ask around to find out whether your location has been flooded in the past. Government projects to map flood zones may be slow to keep up with new developments.

How much homeowners insurance do I need?

If disaster strikes, you'll want enough homeowners insurance to rebuild the structure of your home, to help replace your belongings, to defray costs if you're unable to live in your home and to protect your financial assets in the event of liability to others. Use these guidelines to help determine the coverage and amounts you need.

What if I can't get coverage?

If you live in a home that is considered "high-risk" or plan to move to a high-risk location, you may have difficulty obtaining an insurance policy.

What constitutes high-risk? 

Special coverage for jewelry and other valuables

A standard homeowners policy includes coverage for jewelry and other precious items such as watches and furs. These items are covered for losses caused by all the perils included in your policy such as fire, windstorm, theft and vandalism.

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