Homeowner’s Insurance

4 Feb 2008 by Chetan Shah.

Buying a good homeowner’s insurance can drive any normal person insane! One has to first find out which companies are good. Just because you have heard the company’s name does not make it good. You will have to check the company’s credit ratings from Standard and Poor’s , A.M. Best, Moody’s, Fitch etc. Your local library may have copies of these. Once you determine which company is good for you, you will have to determine what type of coverage you want. This I think is the hardest part as if you are like me, you might not know what questions to ask for while getting a homeowner’s insurance policy. Just because you have a insurance policy does not mean you are sufficiently covered from different types of risks and hazards.

Please do not settle for a cheap insurance policy because you think it is just one of the formalities you have to do to get a mortgage. You should do complete due diligence before buying a homeowner’s policy and should revisit this policy once a year at the time of renewal and make sure that the conditions in which you had bought the policy are still applicable. If they are not you should get your policy updated to reflect those changes.

I do not want to delve into suggesting what questions to ask as there are so many experts who have compiled excellent articles on this topic. I will point you to the articles which I think act as good guidelines and will certainly help in making your decision process much easier.

Suze Orman’s Articles :
Homing In on the Right Insurance Coverage
Test Your Homeowners Insurance Smarts

Bobbie Sage’s Article on :
Understanding Your Home Owners Insurance Policy

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