Here is a list of the most important questions that you should be asking your agent when buying homeowner insurance:
- Is the home fully covered for replacement cost?
Therefore, when buying a homeowner insurance policy, you should ensure that all the features of your current home are taken into consideration. The cost of rebuilding your house to its current glory is bound to be greater than the loan amount or its current market value.
- What will be the deduction on the policy?
- Does your policy include coverage for an earthquake?
- Does the policy cover water damage?
- Does your policy provide coverage for lost silverware or jewelry?
- Does your policy provide any compensation for slander, defamation, and/or identity theft?