Homeowner's Insurance Pitfalls
April 2, 2011
So, you think you're covered? Read the fine print.
If your home burns down, will you get it rebuilt at the insurer's expense? Maybe not.
Home insurance is tricky. The companies are now deliberately making it trickier.
Here is a good article on buying home owner's insurance. Read it. Pay attention to the words "replacement cost." That's what your policy should cover. Be sure it does.
It recommends a high-deductible policy. So do I.
But buyer beware: the companies are now trying to change the definition. They want you to insure for a percentage of the replacement cost, not a fixed fee. Don't buy this coverage.
There are other ways to cut your premium. Check:
I have a department on my site devoted entirely to insurance and its pitfalls. There are many.
For 300+ more tips, click here://www.garynorth.com/public/department54.cfm