Skyrocketing drug co-payments
With prescription drug costs rising, employers and insurers are placing more of the burden on consumers.
A new grad's guide to insurance
If you want to protect what you've got (along with what you'll soon be earning), it's time to think insurance.
Poll: Are you cutting back on health care?
A recent survey found Americans are cutting back on their health care spending. Are you? Take our poll.
Co-signing mom fears being sued
A co-signing mother wonders if she can be sued. Dr. Don Taylor gives her the lowdown.
Not your typical insurance policy
If you think the rich and famous aren't that different from the rest of us, read their insurance policies.


areas.
This article, and some of the next few that follow, will help you make sense of the different sections within your homeowner's insurance policy.

RESIDENTIAL COVERAGE

The most obvious coverage is protection against damage to or destruction of your residential structure. In other words, if your home is destroyed by a tornado, fire, or whatever your policy covers, the insurance company completely replaces or repairs your home.

In this section of coverage, the most important reason to keep your homeowner's insurance policy updated is because, in the event of disaster, the insurance company will only reimburse you for what your home is insured for.

For example, you purchased your home and homeowner's insurance five years ago. It is very likely the value of your home has increased since the purchase date. If you purchased the home insurance policy five years ago and have not updated the policy to the home's current cost to rebuild, the insurance company will only reimburse you for the price you paid five years ago. So, if you purchased the home for $300,000 and the value has increased to $500,000, you're losing $200,000 - quite a large sum.

In the end, it is essential to keep your homeowner's insurance policy updated because you want to be sure your home is insured for 100 percent of the replacement cost. (Some policies automatically update to your home's current value. Does yours?) While it is easy to let that dust settle over your policy from year to year, keep in mind that putting it aside could cost you much more in the end. Your homeowner's insurance policy may make heavy reading, but it will be even more burdensome should it be out-of-date.

Article Directory: http://www.articlecube.com

HometownQuotes, a Franklin, Tennessee Internet based company, provides a quick and easy way for consumers to compare multiple insurance quotes from agents near their hometown. To learn more, visit www.hometownquotes.com. View additional insurance articles at Hometown Quotes!

Here are some more keyman life insurance articles...