Considerations When Buying Homeowners Insurance

Content Type: Checklist

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Looking for homeowners insurance for your new house, or re-evaluating your existing policy? Talk to an agent about the following components in the policy:

Dwelling: Consider the cost to rebuild the entire home, including materials and construction of a new home, and demolition and debris removal for the old home.
Contents: Consider a policy that pays the replacement cost for items rather than the actual cash value.
Deductible: Is there a minimum? Do you want a flat rate or a rate based on a percentage of the home's insured value?
Flood Insurance: All homeowners should consider it, even if they don't live in a mapped high-risk flood area.
Earthquake or Hurricane Coverage: Find out if this makes sense in your area.
Other Riders: Consider riders that cover water/sewer backup, personal injury, loss assessment, ID fraud, equipment breakdown, pet liability, and valuable possessions such as jewelry and antiques.

Gain more details on these aspects of homeowners insurance and find solutions for your situation.