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Beyond the Basics of Homeowners Insurance

By June 16, 2009Insurance
Homeowners Insurance
Many of us understand the fundamentals of homeowners insurance: “What is homeowners insurance?”, “How do I buy it?”, and other such questions. But homeowners insurance only reaches its true value when the educated homeowner knows to ask the critical questions: “How much is enough?” and “Why is this coverage the right coverage?” And, don’t think just dollars – “How much?” also can mean “How much insurance?”


Through poor initial coverage; changes in property value; renovations; or other real-estate and financial market adjustments, most homes are underinsured. The informed homeowner keeps up-to-date on market changes and values – don’t overlook the potential financial disaster of an underinsured home.

It is important to note, when renovations are made, double-checking and/or updating your coverage during and after home remodeling is an absolute must. Our agency can help you find the right coverage that takes into account your needs. We also can help you determine if the contractors you hire are carrying the right kind of insurance. Will your home be open to outside elements during renovation? Will you be vacating the property for more than 60 days? These are all questions you need answered before you begin any kind of remodeling work on your home.

The condition of your home and its contents also can change the effectiveness of your policy. Sometimes a simple change, not quite to the level of a renovation, can change the value of your home. A small deck, a stained-glass window or a hand-crafted front door could impact coverage if unaccounted for in your insurance policy. Anything making your home unique should be highlighted to your agent. Repair costs can be based on standard construction cost and might not take into account the aspects of your home most dear to you.


Options are crucial for the insurance buyer; and options are what independent insurance agents do best. Understand the benefits and limitations of liability insurance when investigating a homeowners policy. Liability insurance often is overlooked, but any homeowners who have had to make use of this coverage realizes its importance.

Also, not to be underestimated, is the importance of umbrella policies. Once the liability limit on the homeowners policy has been used up, you may need the added protection of an excess or umbrella policy to protect your assets. As your independent agent we understand the specific needs of your situation and your liability risk. Don’t ignore this extra level of protecton.

(This newletter is not intended as legal advice, and certain policies may differ from those described herein.)

 Call us at (856) 935-0845 or visit our website at for a homeowners insurance checkup.


The information in this article is meant as a guideline only.  There is nothing in this article that alters the coverage or interpretation of any specific policy.  Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy.  Call our office before making any judgements or decisions concerning your particular situation and coverage that may, or may not, apply.