May 23 couple discussing their insurance with their agent

Key Things to Understand About Your Homeowners Insurance

Learning about your home insurance.

As a homeowner, you need to review your policy for certain pieces of information.  Taking this step will ensure that you are not caught off-guard by a claims event.  Here are some of the essential things that you should learn about your home insurance policy.

Basic Information

First things first, it’s important that you know all the basic information about your home insurance.  For instance, you should know who your insurance provider is and who to contact to file a claim.  You should also know where to access a copy of your policy so you can review the specifics of your coverage.

Your Coverage Limits

All insurance policies have their limits, and your home insurance policy is no exception.  Your homeowners insurance likely comes with varying limits for different areas of coverage.  For instance, your policy probably places specific dollar limits on things like dwelling and personal property coverage.  Make sure you read through your policy and work with your insurance provider to determine if your coverage limits are high enough to address your risks.  If you need to increase your limits, then your insurer should be able to make these adjustments for a small premium increase.

Your Deductibles

Just like your policy includes different forms of coverage, it will also have different types of deductibles.  While it’s important to know the main deductible amount that your insurer will collect when you go to file a claim, you should also know if your policy requires additional deductibles for specific types of claims.  Additionally, if you have supplemental home insurance policies to cover things like earthquake, flood, or windstorm damage, then these policies might not impose a dollar deductible amount.  Instead, they may require a percentage of the claim amount to be covered as the deductible.  Make sure you know all about your various deductible requirements, so you are prepared in the event that you have to file a claim.

These are some of the essential things that you need to know about your home insurance policy.  Do you need help with your homeowners insurance?  If so, then contact the experts at Weeks & Associates Insurance Services in Thousand Oaks, California.  We are ready to assist you with all your coverage needs today.

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