Many consumers are unclear as to what exactly is covered in their home insurance policy. While the tree that landed in your living room may be covered, the engagement ring you lost may not be. Instead of making assumptions about what is covered under a standard homeowner’s policy, it is important to review your policy and find out.
A good time to review your homeowners insurance policy is when the renewal comes in the mail. Read the exclusions and limitations pages that highlight what is not covered. For example, even if your policy covers electronics you may be limited to $1,000 total per claim—most likely much less than adequate for the computers, cell phones and electronic devices in your home. To cover these items, you will need a separate rider to boost coverage. Contact your insurance agent for affordable home insurance quotes that include an additional rider to increase coverage for your valuable possessions.