Many people incorrectly believe flood damages would be covered by a standard homeowner’s insurance policy. Image: Kellis/Shutterstock.com
A homeowner’s insurance policy should not be acquired when you buy your home and then forgotten. Here is how to keep your policy up to date:
* Add coverage whenever improvements enhance the value of your home.
* Similarly, buying expensive furniture, computers, stereos, televisions, etc., might require more coverage.
* Keep in mind that many states will hold you legally responsible for the actions of anyone who drinks in your home and subsequently has an accident. Check that your homeowner’s policy protects you against lawsuits from such incidents.
* If you have items such as a trampoline or a pool in your backyard, you may need an excess liability (“umbrella”) policy that will protect you if someone is injured there.
* Certain types of valuables–jewelry, family heirlooms, antiques, art–are typically not covered by a basic homeowner’s policy. You’ll need to add a “floater” or “rider” to your policy to cover them.
Also make sure you know what your policy does and doesn’t cover. For example, many people incorrectly believe flood damages would be covered by a standard homeowner’s insurance policy.
Key Bills Advancing, but No Path to Avoid Shutdown Apparent
TSP Adds Detail to Upcoming Roth Conversion Feature
White House to Issue Rules on RIF, Disciplinary Policy Changes
See also,
Legal: How to Challenge a Federal Reduction in Force (RIF) in 2025
The Best Ages for Federal Employees to Retire
Alternative Federal Retirement Options; With Chart
Primer: Early out, buyout, reduction in force (RIF)
Retention Standing, ‘Bump and Retreat’ and More: Report Outlines RIF Process