Most home owners are guilty of not knowing the details of their home insurance. Many a times people have found themselves in great difficulties, why? Because they did not take time to understand the things that were listed on the exclusion list of their policies and what it means. They are just content to have that policy because it is one of the requirements of their mortgagor.
As much as it's advisable for you to have broad coverage, too much coverage isn't advisable either. Take stock of your valuables on a regular basis and take note of their present market value. This exercise may show you that you have to buy more coverage but it could also show you have too much and therefore result in savings as you reduce to the right coverage limit for the time.
Are there certain risks that have you worried that you feel you need more coverage. If you fear collisions and the possibility of harmful injury or death then you may want more coverage for that situation.
Sue - Take a look at these two pictures of our earth and how the air circulates. Can't you see the air goes all around the earth. Air we breathe out in Arizona can end up over Brazil. I read that last century a volcano called Krakatoa erupted and people could hardly see for five years all over the United States. It caused crop failures in our Midwest. Did you know that when the meteorite came that destroyed the dinosaurs, the sun did not shine for five years? All over the earth from one meteor fall. What happens anywhere in the air affects the whole earth's air.
This is noteworthy although it's not typically part of a home insurance policy. Folks who buy homes in flood-prone areas pay around $400 yearly on Flood Insurance. Every mortgagor will demand that you buy it if your home is in a flood-prone region. Unless you are sure such additional expense is a wise compromise, you'll get lower rates if you buy a house in a locality that won't call for Flood Insurance.
Do not buy a house in an area that is notorious for crime. Insurers consider homes in such neighborhoods as high risks and high premiums are the only way they can guarantee they can carry the risk. Please, even if it seems a house is in a low crime neighborhood, still confirm to be really sure. You can find out by inquiring from an insurance agent. It does happen that the house on the adjacent street belongs to a high crime zone (by an insurance company's map) while yours is in a low crime zone.
Sue - We learned a lot about carbon emissions when we were doing our research. Carbon emission is the carbon dioxide we are putting into the air. That is called emitting carbon. To emit means to send out, release or give off. Like when we breathe, we emit carbon dioxide into the air. When we run our cars , we emit carbon dioxide. When we run our factories to make products, we emit carbon dioxide. When we burn anything we cause carbon dioxide to be emitted.
Houses in flood-prone places are not considered adequately insured without a flood insurance policy which will mean close to $500 every year. Every mortgagor will demand that you buy it if your house is in a flood-prone area. Unless you really think such extra spend is worth it, you'll do well to buy a home in regions that won't require flood insurance.