by Rachon Ward

Created on: November 25, 2008   Last Updated: December 05, 2008

Keep in mind when choosing your home owners insurance first and for most, know your agent. He or she will be the one you contact in case of an emergency. Choose a local company. Someone who knows you by name and you know them by name. You do not want to spend hours on the phone talking to machines. You will be upset enough during your time of need.

When looking for home owner's insurance do not overlook your auto insurance company. Many Auto insurance companies also offer home owner's insurance. If they are already your carrier they may even and in most cases offer you a reduced rate. The more policies you carry with a company usually the cheaper they are.

When considering a purchase of home owners insurance make sure the amount of the policy is enough to cover a complete rebuild. You should allow 10-20 percent over your final estimate to cover fluctuating material costs. During hurricane season prices of materials go up and down on a daily bases. Do not forget to allow for fuel costs as well. You may have to make several trips to your local building supply. Gas adds up over time. After a disaster you want to be sure you are able to rebuild your home completely.

Be sure to look at your liability and personal property coverage. Ask about contents coverage as well not just home replacement. If you own an extensive amount of jewelry, antiques, computer equipment, electronics, collectables or other personal property consider extra insurance to replace these items. Most basic home owner's insurance plans do not cover these items.

Check in your local areas for problems such as flooding, hurricanes, earth quakes, or other such disasters. If you live in an area known for any of these problems let your agent know. Home owner's insurance basic plans usually do not cover these issues. You will need extra coverage especially designed for such issues.

Ask if your home owner's insurance policy covers expenses you may have if you have to live some where else while repairs are being made to your home.

If you are required to pay a deductable on your home owner's
insurance policy make sure you have this amount in your bank account at all times. You don't want to have to try to figure out where this money is going to come from while you are making arrangements to stay some where else.

If you live in a flood or hurricane zone, or have fire damage ask your agent if your home owners insurance covers removal of debris. Some materials require special handling, asbestos, mold, lead and hazardous waste. These costs can get expensive quick so be sure your home owners insurance covers debris and disposal.

Last but not least, medical coverage. You want your home owners insurance to have adequate medical coverage. Not just for you and your family, but also for any one visiting your home. You need to be sure that if any one gets hurt while on your property that you have proper medical coverage. As we all know medical bills can be pretty steep.

Do not forget to ask about exclusions. A basic home owner's insurance policy will not cover such things as injury to pets, boats, and aircraft. Most policies do not cover water damage due to septic problems, hazardous waste, flood, earthquakes and most natural disastrous. It is your responsibility to ask what is or is not covered by your home owner's insurance policy. Do not be afraid to ask questions, that is what your agent is there for. Remember the only dumb question is the question not asked.

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