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Homeowners Insurance

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Homeowners Insurance

Homeowners insurance provides financial protection against disasters. A standard policy insures the home itself and the things you keep in it.

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.

Damage caused by most disasters is covered but there are exceptions. The most significant are damage caused by floods, earthquakes and poor maintenance. You must buy two separate policies for flood and earthquake coverage. Maintenance-related problems are the homeowners' responsibility.

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Dwelling Value :: Value of the dwelling is the value of the construction. It does NOT include the value of the land. This value represents the actual cost of replacement, should the property be damaged or destroyed by a covered cause of loss.
 


 


 
 
 
 
 
 
 
 
 
 
 
 



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Fun Tip

How do I take a home inventory?
Start by making a list of your possessions, describing each item and noting where you bought it and its make and model. Clip to your list any sales receipts, purchase contracts, and appraisals you have. For clothing, count the items you own by category -- pants, coats, shoes, for example –- making notes about those that are especially valuable. For major appliance and electronic equipment, record their serial numbers usually found on the back or bottom.
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