Be aware of your home insurance exclusions and claim limits
There are many things beyond our control that we cannot prevent. But we can have contingency plans and financial backups. Home insurance is an important financial backup plan that can save you from bankruptcy when misfortune strikes. Damage to your home and possessions can result from many causes and your losses may be limited or extensive. You need to protect yourself against such potential losses, especially the extensive ones. As a property owner, home insurance is one of your first defences against financial loss as a result of property damage.
Stoneman Schopf are experts at homeowners insurance and have helped many home owners in Algoma, Door County, Egg Harbor, Fish Creek, Sister Bay and Sturgeon Bay, WI with best value home insurance. As independent operators they have access to leading carriers across the country and they know where to find the best insurance deals for your needs.
Homeowners insurance is not just for property damage. You could also face potential liability claims in the event of an accident or mishap on your property or in your home. You will want your homeowner’s policy to take care of that. Home insurance should also cover your valuable possessions that are inside your home.
Like with all types of insurance there are always complicated clauses, exceptions, conditions, limits and so on. A good example of exclusion in homeowners insurance is flood related damage. Most home insurance policies will not cover flood damage. There are special programs and policies for that. The important point is that you should be aware of what is covered and what you is not and to what maximum limit you are covered. You need to be sure that your current home insurance covers you for the replacement value of your home and possessions.