When it Comes to Hazard Insurance, Hind Sight is Always 20/20!!

The recent disaster in Texas and Louisiana bring to mind how important home owner’s insurance can be. Although many parts of the country do not suffer hurricanes like Harvey, we are all susceptible to various kinds of disasters like fires, tornados, high winds, hail and earthquakes. In Minnesota we can even suffer damage from just being so cold that pipes and other mechanicals can freeze. And most of us are not covered for floods, which takes a separate policy, usually from the federal government. But the problem is most folks have not taken the time to fully understand their insurance policies to know what they are covered for and what they are not. Fewer still have done a thorough risk/cost analysis. After a tragedy has occurred they will certainly know where they stand and it is often not pretty. If all they considered was the price of the premium when they chose their homeowner’s insurance, they could be in serious trouble. Hurricane Harvey should be a wake-up call for all of us across the country to re-examine our policies and the level of protection. Although the wording in the average policy can be difficult and boring, it is well worth your time. A good insurance agent, which I am not, should be willing to take the time to help you understand the policy. I have posted on my web site an excellent article by Inman News, a national real estate news provider. Although written for people settling insurance claims, it has a great deal of important information that can help decide on what level of insurance you should have. My website is www.Mnhomesbydave.com and it is under the Real Estate News tab. Thanks for reading.

David Feerhusen

David Feerhusen

Broker/Realtor, CDPE, GRI, CRB
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