Avoid These 5 Mistakes When Buying Home Insurance

Homeowners insurance protects you from financial distress if you lose your home or are sued for damage to your property. Protecting your home and yourself with homeowners insurance is a good idea. It also covers liability and extra living costs if a disaster makes your home unlivable. 
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Your homeowner's insurance policy could also include liability coverage to protect you if certain events occur on your property or within your house. Insuring your home protects your biggest investment. It's easy to get lost when buying homeowners insurance if you're new. Avoid these five mistakes at all costs; that will give you peace of mind and disaster relief.

1. Not Recognizing The Dangers
   You should be prepared for anything that comes up during the policy period. This preparedness could help you choose homeowners coverage. You should know if you need flood insurance, liability coverage for legal and medical costs, or other house insurance options. Whether you rent the property or own it, dwelling fire coverage and renters insurance may be required.
   
   
2. Not Knowing What Is Not Included
   It's risky to assume your policy covers everything. Most standard homeowner's insurance policies, for instance, will pay for damage caused by a broken pipe on the premises but will not cover damage caused by water outside the home. Before filing a claim, make sure you understand any exclusions in your policy.
   
   
3. Underinsuring a Home's Rebuild Value
   Like your home, your insurance coverage should change over time. Review it annually to ensure your home insurance is at the right value. Over- and under-insuring a home can be costly, especially since rebuild costs have increased over the years.
   
   
4. Assuming One Flat Rate Deductible
   Before your insurer starts paying claims, you should pay your deductible. Some plans have named hazard percentage deductibles. Ask Appletree Insurance about flat-rate deductible home insurance policies before buying.
   
   
5. Ignoring the Need to Ask Questions
   The policy secures the property. Even if one understands the agreement, one may think some of it is covered. To avoid these misconceptions, ask directly: What does this policy cover? Exclude? How do I make a Claim? What is my deductible? Should I add coverage? Are there any discounts?

Conclusion
Your home insurance coverage is an important investment that will provide you with the security you require in the case of a loss. If you know about these common mistakes, you'll be more likely to buy the right amount of insurance for your new home. It is always possible to adjust your coverage to meet your requirements better. 

At Appletree Insurance, we aim to provide comprehensive insurance policies that make your life easier. We want to help you get insurance that fits your needs. You can get more information about our products and services by calling our agency at (603) 881-9900. Get your free quote today by CLICKING HERE. Topics and coverage discussed in this article are not guaranteed, consult with your agents to determine what your policy does and does not cover. We are more than happy to help!