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Home Insurance Facts

Buying a home is one of the single largest investments that most people ever make. If you need to protect that investment, your main line of defense is homeowners insurance.

Just the basics

Most standard homeowners insurance policies will provide coverage for damage to your home (and many of the items in your home) caused by:


  • Theft
  • Fire and lightning
  • Smoke
  • Frozen pipes
  • Flood
  • Identity theft
  • Work Comp
  • Business/Home Liability


Homeowners insurance also provides coverage for liability claims, medical payments to third parties, and legal costs if a lawsuit is brought against you. The most common amount of liability coverage included in a homeowners policy is $100,000, but you may need much more, depending on your circumstances.

What's not covered?

Read your homeowners insurance policy to find out exactly what is and is not covered. Do this before you suffer a loss, so you won't be surprised. Most insurers exclude damages caused by an act of war, nuclear accident, flood, earthquake, and terrorism, although you may be able to purchase special policies or endorsements that will cover these events.

A diamond is forever. Or is it?

Most homeowners insurance policies limit coverage for certain high-priced or hard-to-replace items. Additional endorsements or floaters will be necessary to protect items like engagement rings, watches, furs, antiques, and other valuables. You'll need to have each item appraised.

How much is enough?

Mortgage lenders require that borrowers purchase a minimum amount of homeowners insurance (typically equal to the appraised value or the purchase price of the home). But this is often not the amount of coverage you truly need. Instead, find out how much it would cost to rebuild your home, and consider insuring it for that amount.

You get what you pay for

Are you willing to pay more to have damaged personal property replaced? If so, consider purchasing replacement cost coverage with your homeowners insurance. When it comes to valuing property, insurers generally use one of two methods. The first, actual cash value, pays you an amount equal to the replacement value of the property, minus depreciation for the years you owned the item. The second, replacement cost, is more expensive, but it pays you the full value of the item today, so that you can replace the old item with a new one.

Auto Insurance Facts

Auto Insurance Advertising

Auto insurance companies have a lot of advertisements on television that are vastly different in appeal and target different audiences. A product usually targets a particular age and gender group that receives their ads accordingly. However, this is not the case with auto insurance companies because they have to target everyone. This is why their ads are so diverse and are on at all times of the day. Their success depends on the effect of the huge number of different ad campaigns on every age group and gender.

Each individual has a different story

However, people can easily get confused because of the overwhelming ads they receive from auto insurance companies. They have to determine which company is really the best. We all know that it is nearly impossible to find the best deals. We all want to save money, but the location, automobile, and driving record all play a part in how much we pay. Since each individual will have a different story when it comes to what they need and how much it will cost them, the auto insurance companies can’t promise the best deal to everyone.

Compare prices yourself

Some auto insurance companies offer to compare prices for their costumers. However, a lot of people are unconvinced with these offers, although it sounds good in theory. People are suspicious of the accuracy of the quotes that are from other companies. For instance, a car insurance company may give a customer four quotes from other companies. The problem with this is that that it is impossible to know if they have selected the highest quotes and left off the ones that might truly save you money, because there are so many companies out there. Checking it out for yourself is the best way to get the best prices.


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