Serving Windsor County, Vermont
    dana@darkhorserealty.com
    (802) 484-7388

Dark Horse RealtyDark Horse Realty

Reading, Vermont & Beyond

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5 Things to Know About Homeowner’s Insurance

1. Know about exclusions to coverage.

For example, most insurance policies do not cover flood or earthquake damage as a standard item. These types of coverage must be bought separately.

2. Know about dollar limitations on claims.

Even if you are covered for a risk, there may be a limit on how much the insurer will pay. For example, many policies limit the amount paid for stolen jewelry unless items are insured separately.

3. Know the replacement cost.

If your home is destroyed you’ll receive money to replace it only to the maximum of your coverage, so be sure your insurance is sufficient. This means that if your home is insured for $150,000 and it costs $180,000 to replace it, you’ll only receive $150,000.

4. Know the actual cash value.

If you chose not to replace your home when it’s destroyed, you’ll receive replacement cost, less depreciation. This is called actual cash value.

5. Know the liability.

Generally your homeowner’s insurance covers you for accidents that happen to other peopleon your property, including medical care, court costs, and awards by the court. However, there is usually an upper limit to the amount of coverage provided. Be sure that it’s sufficient if you have significant assets.

Posted in: Buy Vermont Home, Buyer's Resources, Vermont real estate Tagged: advice for buyers, buyer's agent, first-time homebuyers, homeowners' insurance

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5 Things to Know About Homeowner’s Insurance

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Dark Horse Realty
3642 Rt 106,
Reading, VT 05062
(802) 484-7388
dana@darkhorserealty.com


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