Many people think that as long as they have a homeowner’s policy they are properly covered. The truth is every homeowner’s policy is different. The differences start with the way the dwelling is insured which can be any of the following: guaranteed replacement cost, replacement cost, or actual cash value. A common misconception is if one’s home is insured at actual cash value and it burns down they will receive enough from the insurance company to rebuild it. In reality, they will not receive enough to rebuild their largest investment. Peak Insurance also helps you analyze other coverage such as water backup/sump pump failure, scheduled jewelry, or other expensive items.
Another coverage most people don’t consider is their pet. Individuals with dogs do not realize that if their dog was to bite someone their homeowner’s policy would be responsible for it as long as there is no exclusion. Nowadays, most companies are excluding certain breads of dogs or animal liability all together. Are you sure your policy covers your pet?
A homeowner’s policy covers much more than just your home so call us to have one of our agents review your policies.