Understanding Your Homeowner's Insurance
...before it may be too late.


For nearly all consumers, owning a home represents a large investment. But suppose your home is vandalized or damaged by a storm? Having insurance can protect you from such unpredictable losses.

When purchasing insurance, it is important to READ YOUR POLICY. Your policy is the contract between you (the insured) and your insurance company. The time to learn about your coverage and conditions is not after you have suffered a loss but before, while you have the opportunity to discuss the policy with your agent. If you do not understand the policy or want to modify it, contact the insurance agent or company for additional information. Also important is the written application for insurance that usually becomes part of the policy. Carefully examine the application before signing it to make sure the information is accurate and complete.

Lately, many insurance companies are changing their policies regarding storm damage to your home. Be sure to check with your local agent to determine if you will be fully covered. Watch for roof pro-rating, which means if your roof has a 20 year life and after 10 years it sustains significant hail or wind damage, you will only be reimbursed for HALF the actual cost of a new 20 year roof. Thereby leaving you the homeowner responsible for a large amount of money to completely pay for a new roof.