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The Insurance Information Institute warns against cutting your homeowner's insurance during hard economic times. Being under-insured can cost you more in the event you have to make a claim. Be wary of the following: Insuring a home for its real estate value rather than the cost of rebuilding. Selecting an insurance compnay by price alone. Dropping flood insurance if in an area wher it is not required by the lender, but ther is a chance of flooding. For renters, neglecting to purchase renter's insurance. In most situations, Homeowner's Insurance is not an option, it's mandatory. Most lenders require insurance to be … (0 comments)
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