Life Happens 365 - Are You Managing the Risk?

By Diane Tait Image courtesy flickr If you own your own home, then it’s probably one of the biggest investments you have ever made.   With an average sales price in the US of $322,600 in April 2020, buying a home doesn’t come cheap.   Neither does maintaining it for years to come.   That’s why most homeowners insure their homes to protect their investment from fire, theft, storm and other acts of God.   That being said, unless you’ve taken the time to read each and every line in your policy, including the fine print, you might be shocked at what the average homeowner’s policy doesn’t cover.   So, I thought I’d take the time to go over what’s included and excluded in most policies.

By Diane Tait Image courtesy of flickr With the holiday shopping season in full swing, I thought I’d make a gift suggestion that you may not have considered.   While most people scour the Internet looking for deals on toys, the latest electronics and gizmos galore, I came up with one that probably hasn’t crossed your mind: A carbon monoxide alarm.   While nearly every home has a smoke detector designed to warn them in case of fire, precious few have a CO alarm.   Every bit as deadly as smoke, carbon monoxide is colorless, odorless and just as toxic.  

By Diane Tait Image courtesy of A&B Insurance For most people, owning a home is the biggest investment they will ever make.   To protect this investment, you need to carry homeowner’s insurance.   That’s a given.   The trick is determining how much homeowner’s coverage you need.   Get it right, and you’ll be covered for unexpected crises that wind, weather, and happenstance can throw at you.   Get it wrong, and you can be left holding the bag if something happens to your home.   Nobody wants to pay more than they should for anything, including homeowner’s insurance.   Of course, nobody wants to find out after a catastrophe that the damage done to their home isn’t covered under their current policy.   To help you determine the optimum level of coverage you need, today I will give you some food for thought when it comes to your homeowner’s policy.