Homeowners Insurance

Your homeowners insurance policy probably isn't something you review as often or as closely as bank statements or tax documents – but staying in the dark can cost you, experts say.

Nearly a third of consumers polled by MetLife last June didn't know how much their home, condo or townhouse was insured for.

Checking up on a homeowners insurance policy isn't typically on an average customer's to-do list, but it doesn't have to be hard, says Madelyn Flannagan, the Independent Insurance Agents & Brokers of America's vice president of agent development, education and research. Insurers are required to send renewal notices each year, reflecting changes in coverage and premium charges. And insurance information often comes with annual interest statements from your mortgage company, she says.

"That's a great opportunity to take a look at your homeowners policy," and can help determine if you need to adjust coverage to reflect changes in your home or lifestyle in the past year, Flannagan says.
  • March 30 2011 - Naples
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Answers (3)

Best way to do a quick check on your home insurance amount is to give an agent a call and have them run a "costimator" (cost estimator) on the home to determine the reconstruction cost.
  • July 06 2011
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Insurance companies are always changing rates based on claims and a desire to grow "the book of business". [Promotional hotlink removed by Zillow moderator. Please see our Good Neighbor Policy for more information.] what might have been a good rate may no longer be a good rate with another insurance company. My advice, try to stay with an A rated company to give yourself peace of mind.
  • May 28 2012
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Homeowners in the Naples area are definitely affected by construction methods and elevation certificates. Especially with the changes in the FEMA maps and interrelated insurance rates, checking insurance rates is a must. Any buyer should talk to several insurance resources to confirm rates and coverage. Even if paying cash, consideration of insurance cost and coverage is a worthwhile endeavor.
  • June 16 2012
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