Most people agree, it is very important to minimize costs wherever possible. Insurance is one of your most controllable expenses. By implementing the ideas of Risk Management in addition to traditional insurance, it can help you maximize needed insurance protection while minimizing your insurance costs.
Because everyone’s needs are not the same, it is best to consult your agent to help assess your needs and find the insurance policy that is right for you, but here are a few things you should know about Homeowners insurance.
- Homeowners insurance is a package policy. This means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or members of your family cause to other people. This includes damage caused by household pets.
- Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.
- Damage caused by most disasters is covered but there are exceptions. One of those exceptions is damage caused by flood. You must buy a separate policy for flood.
