How many of you have actually read your homeowner’s insurance policy? We guess not too many. We do recommend that you read your policy to help you understand what coverage you have. Most homeowners are familiar with the basic coverage found their homeowner’s insurance policy; including coverage for the home itself, personal property and liability associated with owning a home. We thought it might be good to provide a list of suggested coverage for your consideration.

Seven coverage items every homeowner should consider

·         Replacement Cost Coverage. Replacement coverage refers to the reimbursement for rebuilding or replacing damaged items or structures with like kind and quality.

·         Additional Living Expense Coverage. This covers the expenses you may incur if you are not able to live in your home for a period of time due to a covered loss. It would cover hotel, food and other expenses.

·         Flood Insurance. Flood damage is excluded under all homeowner’s policies. We can obtain coverage for you through the National Flood Insurance Program.

·         Building Code Coverage. Building code coverage provides additional limits/coverage in the event your local build codes require new or different construction methods. An example might be a higher vale insulation rating.

·         Valuable Items Coverage. Provides higher limits and expanded protection for certain property such as jewelry, silverware, fine art, gun, collections, furs, cameras, musical instruments, and home computers.

·         Identity Fraud Coverage. Provides up to a specific amount to help cover costs to restore your identity if it's used fraudulently.

·         Water or Sewer Backup. Most homeowner and business insurance policies do not cover water or sewer backup unless specific sewer backup coverage is added to the policy. Fortunately, sewer backup coverage is available from most insurance companies for a nominal cost.