Two Things to Know About Home Owners Insurance

It is essential for every homeowner to have homeowners insurance. A policy can cover you in the event there is damage to the property, as well as protecting you from liability for accidents that may occur. Most mortgage companies require homeowners to secure homeowners insurance in Reisterstown Maryland before they will underwrite a loan for a house.

 

Read Your Policy Thoroughly

 

A homeowner’s policy may not be the most exciting thing to read but it is a legal contract; it is important to understand the rights and responsibilities of your insurance carrier as well as your own. If there are any questions or concerns, be sure they are addressed before you commit to the policy.

 

Review Your Policy Each Year

 

It is a good idea to go over your homeowner’s policy every year to be sure it provides adequate coverage. Building an addition onto a house or remodeling rooms can increase the value of the property, and that needs to be reflected in your insurance coverage. If you replace a substantial amount of furniture or electronic equipment, confirm they are fully covered in the event they are damaged or stolen. Big ticket items such as expensive jewelry are typically insured by riders that are separate from a homeowner’s policy.

 

Understanding your homeowners insurance in Reisterstown Maryland and being certain it fully covers your home and possessions are important for everyone who has a house.