Homeowners Coverage: Don't Skimp

WHEN REVIEWING YOUR HOMEOWNERS COVERAGE, PLEASE KEEP A FEW THINGS IN MIND. REALIZE THAT YOUR HOME IS YOUR BIGGEST ASSET AND SHOULD BE INSURED PROPERLY. THE STRUCTURE SHOULD BE INSURED FOR $150 TO $200 PER SQUARE FOOT. THE LIABILILITY SHOULD BE A MINIMUM OF $500,000. ALSO MAKE SURE THAT YOU HAVE WATER AND SEWER BACKUP. THE DEDUCTIBLE IS YOUR LEAST CONCERN. $500 IS STANDARD. YOU CAN RAISE YOUR DEDUCTIBLE TO $1000, $2500 OR EVEN AS HIGH AS $5000. BY THE WAY DEDUCTIBLES PERTAIN TO PROPERTY ONLY. THERE IS NEVER A DEDUCTIBLE ON LIABILTIY. AS YOU INCREASE YOUR DEDUCTIBLE YOUR RATE DROPS DOWN.

THE MOST IMPORTANT THING ABOUT INSURING YOU HOME IS NOT TO SKIMP ON COVERAGE. DON’T WORRY ABOUT SAVING A FEW DOLLARS TO SAVE MONEY. INSURE THE HOME PROPERLY EVEN IF YOU HAVE TO SPEND A FEW BUCKS MORE...