Learn more about homeowners insurance. Do you know what is covered? All insurance policies are not created equal, so before a claim occurs, prepare an inventory of the items in your home. Take pictures. Keep receipts, and review your policy at least once a year with an insurance professional.
Make sure the information on your policy is up to date: year of construction, construction type, square footage, style of roof, and distance away from a fire hydrant and the closest fire department. These details make a difference in your homeowners' premium.
In addition, ask your agent or insurance company what kind of home cost estimator is used to determine the cost to rebuild your home if the unthinkable occurs. Get clarity on Replacement Cost (RC) versus things being insured at Actual Cash Value (ACV).
Homeowners insurance protects the structure and the contents inside. Talk to an insurance professional to find out what else your policy covers, and more importantly, what it does not.