Having a comprehensive homeowner’s policy is an excellent way to protect your financial future, especially if you choose to major in Real Estate. The first fact you should know about home insurance is the existence of difference of homeowners’ policy. Just as they are different, their coverage differs.
The second fact is that home maintenance is important. Poor maintenance can lead to damage of property, the homeowner’s insurers can deny a claim after they find out that the damage occurred due to negligence. Miscellaneous damages can be worked on to avoid full damage.
The third fact you should know is that not all property is covered for. Some items come with coverage limits or caps. The good thing about homeowner’s insurance is that they even cover property that is not within your household. This is the property that gets lost while you are away from home.
Homeowners’ insurance also states that not every type of damage is covered for. According to Fix and Flip, unless some types of natural disasters are included in the policy, they cannot be covered. Policies often state that some things are covered for when they are ‘sudden’ or ‘fatal.’
The fifth major fact in the list of What You Should Know About Home Insurance is creating a home inventory; this acts as a back up to help remember things that are in your household. This can be done with the help of taking videos or pictures.