Home Owners Insurance- Getting the Right Coverage and Reading the Fine Print


September 5, 2012

Deciding on what homeowner’s policy to buy can be an important decision for a homeowner. During the purchasing process of a homeowner’s policy, it may seem that there are certain types of coverage that may seem excessive and unnecessary. However, rarely is a baseline policy situation excessive. This would be coverage for storms or home mechanicals defects that cause house and property damage. Before a policy is purchased it is suggested this be thought over carefully and researched. Because of the potential risk factors for weather damage and other structural and mechanical issues, it is wise to consider what coverage could be important. This is something that should be evaluated based on where the home is located and what the risk factors are.

Many homeowners don’t like to think, “What if”, when buying a home. But statistics show that most homeowners do in fact suffer from some kind of damage to their property from a cataclysm during their homeownership. This is especially true if the home is owned for more than 5 years. In most areas of America, there are a number of potential weather related damaging situations that can arise causing significant financial loss. Certainly with the weather patterns that have struck the U.S. over the last few years, homeowners are seeing problems arising from all sorts of unexpected weather situations. Across America the wind, snow, sleet, hail, heat and excessive water damage that has occurred in homes throughout the country in unprecedented weather patterns, has left many homeowners without proper coverage. These unexpected weather events have left many homeowners realizing they are underinsured. This is often the case because homeowners don’t often read the fine print of their policies. They only find out later that the tree that crashed into their house and took out their roof is only nominally covered in their policy.

In addition to weather situations, other problems can occur within a home causing damage, from burst pipes to broken water heaters, there are several situations that can cause internal and structural problems in a home. Having coverage for such unexpected situations is financially wise and important. Because of these potential problems it is recommended that consumers search thoroughly for a good policy that will cover most types of cataclysms. Potential risks should be assessed with a certain amount of reasonableness before deciding what type of coverage to obtain.

Most policies have deductibles, and this is to be expected. However, deductible amounts are usually set based on what the property owner wants. Usually having lower deductibles does not significantly increase the cost of a policy. Homeowner’s usually find out after the damage has occurred on their home and that for a few dollars more they could have gotten better insurance coverage and a lower deductible.

Therefore shopping around is a wise choice and can mean the difference of getting better coverage for less money, compared to getting poor coverage for more money. In addition, understanding the fine print of insurance wording before a purchase is made avoids later underpaid or potential unpaid claim problems.

Author’s Bio: Sharon Green’s articles are very informative and impressive. She writes about house insurance to cater to the needs of her readers. If you want to know more visit Houseinsurance.com



0 thoughts on “Home Owners Insurance- Getting the Right Coverage and Reading the Fine Print”
  1. I have experienced getting poor coverage for more money before and I don’t want to experience that again. Thanks for sharing your insights, will keep them in mind the next time I go on a real estate search.

  2. The most important thing in home insurance policy is to understand the policy.If you understand your policy well you can save some money. Second main thing is self assessment. Before taking the home insurance policy the home owner should be very clear on which type of coverage he wants in which rates? Also while choosing a home insurance company investigation about the insurance company is very much required because now a day there are hundreds of insurance companies and it will be confusing to choose one of them.So choose right coverage option with right insurance company and be secure and happy.

  3. Yes, decision is important for any insurance. It might be costly but it will also be worth it when you need it. Thing to consider is the insurance policy in detail that will determine the benefits of the insurance. I also agree that it must be keenly study and research very well to understand the policy carefully to avoid any issue in the future. Your ideas are great and can definitely apply to people that planning to get insurance in the future.

  4. read the fine print and the whole coverage of your insurance. but review also some home monitoring system for your house to be secured from burglar or robbers. but don’t rely on it too much. maybe this will help us. Check this out

  5. I am agree that there is a need of understanding the home insurance policy. Most of the home insurance companies does not cover the flood damage. For this we have to buy a flood damage policy. So be careful while choosing the insurance company because when any disaster like flood occur and you have not the proper knowledge of your policy you will be in big trouble while claiming the damage.

  6. Hi!! Thanks to share this important information. Home insurance policy that combines various personal insurance protections, that include losses occurring to one’s home, its contents, loss of its use or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.

    Alisha Martin

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