Homeowners or soon-to-be homeowners need to listen up:  The Homeowner Insurance Policy Landscape is a little scary right now.  What's more... things don't look too incredibly cheery moving into the future. 

Take the following points to heart as you consider your current and future homeowner or condo insurance policy choices.  You'll be glad you did.

1.  Consider carefully before making a claim:  I know it's a standard notion to do this, but it warrants a look here.  Here in Winter Haven, Florida - we're still feeling the after effects of the 2004 hurricane season where insurance claims are concerned.  To date, the most common claims tend to be fore mold damage.   Insurers are starting to cap their allowable expenses for such claims at $5,000 to limit their "damages." 

My recommendation: If it's a bad situation posing serious health risks, then make the claim.  That's why you have insurance.  However, if you can remedy the situation yourself - do so.  There's a strong chance that you will not be covered the next time you renew your insurance after a major mold claim.

2. Get Renter's Insurance in Between Owning Homes:  It's becoming more and more common for folks to sell their homes (via Short Sale or other means) and then rent for a while prior to buying their next home. 

My recommendation: To help make sure you're covered for your next home purchase, consider carrying a renter's insurance policy with your previous insurance provider.  This way, even if they stop writing new business in your area or state, you should be able to re-up your homeowner's insurance when you purchase your next home. 

What you don't want is a gap in coverage - causing you to have to start fresh with your past company, or perhaps one you'd rather not work with.

Just some food for thought.  State Farm's pulling out of Florida, and I'll be looking for a new insurance company soon.  I know I'd appreciate these concepts if I didn't know them already.