Do you know what you homeowners insurance covers?

[badmomma]

When you purchase a home one of the first things you have to get is homeowners insurance. Knowing what it does and does not cover is the most important thing you will ever do for youself and your family.

Most people do not have flood insuranse as part of their insurance policy. In most cases this is due to the fact that they do not live in a flood plain.
The problem here is that no matter where you live you can get water damage.

Check your policy and see what you have and then contact them and get it. I also wanted to speak to you about coverages in the event of injury or death. If something should happen that you can not work do you have protection that will make your payments during that time period.

If you should pass away will your insurance pay off your home. I myself have this through my husband. In the event of his demise the loan will be paid off except for $9000 which I will pay in $100 a month payments.

Knowing what you have and planning for unfortunate events will save you and your family from the loss of you home and from struggling when times are at their worst.

[flippinout]

The flood insurance not being included in your regular house insurance is something a lot of people dont realize.

I live in a small town that has 2 creeks. One is very small and the other isnt real big but when it rains a lot those two creeks really do get up.

There hadnt been a flood in this town since 1958 and back in 2004 I think it was, we had a flood. We also got our basement and garage flooded but by runoff, not the creeks themselves. Then a couple of years later, we had 5 floods in one year. Needless to say, the whole town is now considered to be in the flood plain.

By all of us being in the flood plain now, we should all have flood insurance. The problem with flood insurance is the expense. And we may never have another flood here in my lifetime, so I dont have flood insurance for those reasons.

The importance of knowing also that upon your spouses death, what could be paid off etc is extremely important to know. I for one will get out my policy today and look to see just what all is covered in that case.