12/10/2021
Home insurance: two words that make people usually run in the other direction. 🤣 But let’s break it down together, shall we?
Here are 5 terms you gotta know when it comes to :
🏡 Deductible – the amount of money you’ll pay out of pocket before your insurance company will pay on the claim.
🏡 Liability coverage – this covers you against lawsuits for bodily injury/property damage that you (or family members) cause to other people.
🏡 Replacement cost – the amount of insurance provided to rebuild your home from the ground up if it were devastated by fire, weather events, or other disasters.
🏡 Sub-limits – a limitation in an insurance policy on the amount of coverage available to cover a specific type of loss.
🏡 Riders – like a mini insurance policy, riders give added protection to certain items that can get excluded/have low limits on your homeowner’s insurance policy.
Have any questions about any of these terms? Leave them in the comments!