Look for Homeowners Insurance Gaps, Advises InsuranceAgents.com

    CHICAGO, IL, July 29, 2009 /24-7PressRelease/ -- These days, saving money is a top priority, including when it comes to homeowners insurance quotes. You bought that policy to protect one of your most important assets and to save money in the long run. But that doesn't mean much if your policy has a lot of hidden coverage gaps.

According to a recently published article on Insuranceagents.com, homeowners face risk being underinsured or falling victim to gaps in their insurance coverage.

"Unfortunately, many times these gaps aren't realized until the homeowner tries to file a claim and realizes their policy doesn't provide proper coverage," according to the Insuranceagents.com article, 'Possible Gaps In Your Homeowners Insurance.' "The best way to solve this problem is by preventing it from happening at all."

It's important for homeowners to review their policies and include: coverage for family heirlooms, jewelry, electronics, other belongings, etc; flood insurance; and personal liability coverage.

"Any homeowner should have personal injury liability coverage added to their homeowners insurance policy (Don't assume it's included. It's not)," suggests the Insuranceagents.com article. "In your home, you are liable for a number of things: bodily harm, personal injury, libel/slander and defamation of character. This coverage has to be added to your [policy] for an additional premium, but is also considered inexpensive while providing a lot of coverage."

Other coverage gaps you may want to avoid is sewage back-up coverage. Many homeowners insurance policies do not include coverage if your plumbing or sewers back up, even though this can cause a considerable amount of damage and loss in your basement or in other parts of your home. The cost is expensive and can be anywhere from $5,000 to $20,000. Some policies that do include this coverage will set a strict limit on how much the insurance carrier is obligated to pay.

Just remember: it's more important now than ever to make sure your homeowners insurance policy includes the coverage you need it to and not fall victim to coverage gaps. If you need more coverage than your policy offers at a lower rate, Insuranceagents.com recommends searching for multiple homeowners insurance quotes and comparison shopping.

InsuranceAgents.com provides consumers with access to information including insurance quotes, articles, and comparisons.

Source: InsuranceAgents.com
Website: http://www.insuranceagents.com/

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