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| Home insurance |
Once you know the proper level of coverage, consider special add-ons for valuables such as jewelry, your computer equipment and other pricey possessions. You might also need additional coverage for earthquakes, flooding or windstorms, depending on where you live.
Lending institutions usually require mortgage customers to purchase home insurance. Don’t rely on the coverage levels mandated by your bank or mortgage company. Those levels are designed to protect the house itself, but not necessarily your possessions. That’s why it’s important to check with your agent or insurance company to make sure you have adequate coverage.
Here are some dos and don'ts when insuring your home from UnitedPolicyholders.org.
Basic policies
The terms of standard home insurance policies have been defined by the Insurance Services Office (ISO), so standard coverage is generally not going to vary from company to company, although rates will. That's why it's important to shop around.
Perils covered in HO-2, HO-3, HO-4 and HO-6 policies:
