Home Insurance FAQ

Chances are that if you are shopping for home insurance that you will have plenty of questions.  A few of the more common questions are outlined below.

If my home is destroyed due to a natural disaster, will my home insurance cover me to live elsewhere until I can rebuild?

This depends on the type of policy that you have.  In most cases your home insurance will cover you to live elsewhere, but there will be a coverage limit that will only last a predetermined amount of time.

An accident in my condo damaged another one in my unit.  Do I have to file a claim?

This will be contingent on the rules of your condo, as well as how the other owner plans on handling things.  If you are found to be liable for the damage you may need to file a claim with your home insurance company.

I am thinking of building a new home.  While it is being built do I need to have home insurance?

This is something that you should definitely consider.  If you do not you will be putting yourself at great risk if something were to happen.  Most standard home insurance policies will cover you for damages during the construction phase.

Does flood insurance come with home insurance?

Many people think that with home insurance they are covered against floods.  This is not the truth.  If you want to have flood insurance you need to add this coverage to your home insurance policy.  It is not included.

Are my yard and other exterior property covered in my home insurance policy?

In most cases the answer to this question is yes.  Just to be safe you will want to check with your home insurance company before you start a policy.

Is home insurance expensive?

Generally speaking, home insurance is not very expensive.  But with that in mind it depends on what type of coverage you are looking for, as well as the home that you are insuring.