10 Questions to Ask When Choosing Home Insurance
Choosing the right home insurance policy is one of the most important decisions homeowners can make. Your home is likely your most valuable asset, and protecting it with the right coverage is essential. But with so many options and complex terms, it can be overwhelming to know what to look for.
To help you navigate the process, here are 10 essential questions to ask when choosing home insurance:
1. What Does the Policy Cover?
Start by understanding exactly what’s included. Does it cover damage from fire, theft, vandalism, storms, or water leaks? Clarify whether it includes detached structures like garages, fences, or sheds.
2. What’s Not Covered?
Equally important is knowing what’s excluded. Common exclusions may include flood damage, earthquakes, mold, or sewer backups. Ask about available add-ons or separate policies for those risks.
3. How Much Coverage Do I Need?
Ensure the policy provides enough coverage to rebuild your home from the ground up, not just its market value. Don’t forget to include the cost of replacing personal belongings and additional living expenses.
4. What Is the Deductible?
The deductible is the amount you’ll pay out-of-pocket before insurance kicks in. A higher deductible usually means lower premiums, but make sure it’s an amount you can afford if disaster strikes.
