Home insurance: five questions worth asking

A home policy is a collection of choices

Homeowners insurance can address the dwelling, personal property, liability, and other costs after some covered losses. But a policy has limits, deductibles, conditions, and exclusions. A more useful review begins with questions about your own home.

1. What would it cost to rebuild?

The amount needed to rebuild a home can differ from its market value or what you paid for it. Ask how your dwelling limit was determined and whether changes to the home call for a fresh look.

2. Do you know what is inside?

A rough inventory of belongings can help you think about personal property limits and document what you own. If you have valuable items, ask whether special limits apply and whether additional coverage is available.

3. How do the deductibles work?

Know what you would pay out of pocket after a covered loss. Some policies may have different deductibles for different types of claims, so it's worth reading the details rather than assuming one number applies everywhere.

4. What about liability?

Personal liability coverage can matter when you are legally responsible for injuries or property damage to others. Discuss your household, property, and activities when reviewing the amount of protection you want.

5. What isn't covered?

Do not assume a standard policy covers every event. Flood and earthquake losses, for example, often require separate coverage discussions. Ask directly about exclusions, limitations, and any available alternatives relevant to your property.

If you've moved, renovated, or simply haven't reviewed the policy in a while, explore home insurance and request a conversation. Specific coverage depends on your policy and circumstances.