Posted on: 13 September 2021
Does your homeowners' insurance policy provide you with coverage in the event of a flood? You may be surprised to learn that unless you have purchased additional flood insurance, the answer to this question is typically no. You may also be surprised to learn that while most standard home insurance policies do not offer flood protection, they do offer protection for your cell phone.
If you are not quite as familiar with your homeowners' insurance policy as you thought you were, don't feel bad. Many consumers have misconceptions regarding what is and what is not covered by their insurance policy. The good news is unlike many people who don't find out their insurance coverage is inadequate until after they try and file a claim for damage, you are discovering this information now while there is time for you to make the necessary changes to your policy to ensure you have the level of protection you desire.
Now Is A Great Time For A Read
If you haven't already looked away from this article to pull out your homeowners' insurance policy, now is a great time to pull out that policy and read it in its entirety. Be sure to take note of not only what exactly is covered by the policy but also the coverage limits for each category of coverage, as well as what is not covered. This is important because in some cases you may find that while your insurance policy does offer some level of protection against certain types of financial loss, the amount of coverage it provides is not suitable for your lifestyle. For instance, a policy that offers $500 in protection in the event of food spoiling in your fridge after a power outage may be more than adequate for a family of four. However, a large family that keeps considerably more food on hand at any given time may feel as though they need to up the coverage for this category to $1000.
Now Is The Time To Make The Necessary Changes
While it may be tempting to wait until it is time to renew your policy in order to make any necessary changes to your homeowners' insurance coverage, choosing to take this route could leave you dealing with some hefty out-of-pocket expenses in the event that catastrophe strikes before your policy is set to renew. To avoid this, pick up your phone, call your insurance agent, and make the necessary changes to your home insurance policy.Share