Five Insurance Mistakes for Homeowners to Avoid

The Insurance Information Institute (I.I.I.) just published the results of a survey of homeowners that showed almost half of the homeowners surveyed believe that coverage limits of their homeowners insurance policy are linked to the value of their home.  However, this is not the case according to the I.I.I.  “The real estate value of a home, that is the price you can buy or sell it for, has absolutely nothing to with the amount of insurance needed to financially protect the homeowner in the event of a fire or other disaster,” said Jeanne M. Salvatore, senior vice president and consumer spokesperson for the I.I.I. “Reducing insurance coverage because the market value of a home has decreased can result in being dangerously underinsured.” Continue reading “Five Insurance Mistakes for Homeowners to Avoid