A home for most is the largest item a person will every buy. Homeowners insurance shields the buyers and their investment in numerous ways. Having the appropriate insurance in place will allow you to rebuild your home in the event it is damaged, without any further cost to you. It also protects the contents of your home such as clothing, furniture, electronics, jewelry, etc. against loss. If you finance the purchase of your home, then the lender will require that you have a homeowner's insurance policy in place.

What If I Am Planning To Build A New Home?

Most insurance companies require that you have the insurance in place before the basement or slab is poured. As soon as you know when you will be starting construction, you can ask for a quote based on your start date. The insurance company will require the start and expected completion dates of construction along with all the details of the finished home. If you have an existing homeowners' policy in place, contact your broker or agent, and they may simply add an endorsement to cover the construction of the new home.

I Am Renovating My Home, Do I Need More Insurance?

You should contact your broker or agent before beginning construction on renovations or additions to your home. Because you are making material changes, the insurance companies have to be informed. Also, any renovations or additions will affect the value of your home and you will want to make sure that you are properly insured.

Does Homeowners Insurance Cover Jewelry and Art Collections?

Homeowner insurance policies can differ from company to company in the limits set for stuff like jewelry, art, photography equipment, musical instruments and so on. Examine your policy carefully to find out what your exact limits are. If the items you are concerned with exceed the cost limit, you will need to list them in order to have them insured. This may entail professional appraisals, pictures and precise information related to each item.

Will My Homeowners Insurance Cover My Business If I Work From Home?

Most insurance companies include coverage for home based businesses on their homeowner policies, but limits can vary. Call your insurance company with the particulars of your business, including any equipment specific to your business. Depending on the kind of business, there may be an added premium charged or you may have to buy a different policy.

Is My Homeowners Insurance Affected If I Go On Vacation?

If you will be away for a period of time, you must notify your insurance company of the dates, and what preparations you have made to guarantee the security of your home and contents. Insurance companies have different conditions for this and you should make contact with your agent or broker to make sure you are in compliance. In the event that you sell your home and the home is vacant, your policy will not cover any losses. You must call your insurance company and arrange for the appropriate insurance before the home becomes empty.