Tag: home insurance

Time for an Insurance Review

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The coronavirus has made one thing abundantly clear: We all need to be prepared for an emergency. Which prompts the question: When did you last review your insurance policies?

You may want to make some changes to your auto, homeowners and life in­surance policies in light of COVID-19. “You could be paying for coverage that you don’t need anymore, or you could be lacking coverage in some areas because of the pandemic,” says Carmen Balber, executive director at Consumer Watchdog, a nonprofit consumer-advocacy organization.

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Here’s Exactly What Homeowners Insurance Covers — and What It Doesn’t

Posted in Money.comTagged , ,

If you’re like most homeowners, your home is your biggest asset. Protecting it should be a top priority.

Plus, nearly every mortgage lender requires borrowers to buy home insurance. Which makes sense: After all, your lender wants to get repaid even if your house burns to the ground.

According to the Insurance Information Institute’s latest data, the average annual premium of a homeowners insurance policy in the U.S. is $1,211. However, home insurance costs can vary widely depending on where you live, in large part because some states are considered high-risk areas for natural disasters and, thus, policyholders in those regions are more likely to file claims.

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