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Buyer Beware - Check That Insurance Coverage....

By
Real Estate Agent with Benefield Realty

Many buyers like to "shop" their homeowners insurance coverage looking for the best deal they can find. It's hard to disagree with looking for a deal these days, but it is very important to discuss with your agent exactly what is covered by the policy.

There are many policies that cover fire damage only. With all the catastrophies we see happening around the U.S. today, you might want to consider adding additional coverages to your policy. Things that immediately come to mind are:

  • Tornado & Hurricane damage
  • Earthquake damage
  • Flood damage

Better safe than sorry. Be sure and discuss all types of coverages with your agent, then you can make the determination how much risk you are willing to take by leaving certain items out.

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ENJOY THE DAY!!

 

 

Kyle Jan
Scottsdale, AZ
Phoenix AZ Homes for Sale

Too many times, people just look at the price instead of what the policy covers.  We see it on the loan side all the time. 

Jun 15, 2010 03:40 AM
Brigita McKelvie, Associate Broker
Cindy Stys Equestrian and Country Properties, Ltd. - Lehigh Valley, PA
The Broker with horse sense and no horsing around

Dan,

That is some very good advice.  Don't shop around for the price of a policy.  Shop around for the best coverage you can get.  It can happen to you at some point in time, most likely when you least expect it.

Brigita

Jun 15, 2010 04:38 AM
Dan Benefield
Benefield Realty - Decatur, GA

Thanks for the comments Kyle and Brigita. I appreciate it very much.

Jun 15, 2010 07:26 AM