Disillusioning Fact about Homeowners Insurance

April 29, 2009 - PRLog -- Homeowners insurance companies have shown time and time again in their studies that there are a number of people in the nation whose homes are underinsured. This is because many consumers are disillusioned by a major assumption: their homeowners insurance covers every scenario imaginable.

While there are some agencies that cover just about every type of natural disaster, catastrophe, peril and coincidental incidences, many refuse to give their policyholders coverage for four high-risk scenarios: flood, earthquake, identity theft and expensive jewelry loss. More insurance companies are deeming them as too common, too widespread or too expensive. And as a result, consumers end up being dumbfounded at the coverage gap in their policy, as well as the cost it takes to clean up, repair damages or rebuild. Policyholders can not guarantee that they are completely insured by their insurance company.

Consumers and policyholders need to think about the possibility of buying insurance add-ons to fill in any gaps in their coverage. Also known as riders, the add-ons exist for anyone who wants added home security in the event of an unfortunate coincidence.

http://www.insuranceagents.com/homeowners-insurance/four-...

However, consumers should take time to read their contracts to prevent any surprises from happening, as well as prepare their house for any sudden geological changes to reduce the chances of their home being damaged or destroyed by a peril. Consumers and policyholders who take time to read their insurance policies are more likely to have better relations with their insurance provider, as well as have a better plan of action should disaster strike close to home.

Staff contribution: Brandon Clayton

# # #

InsuranceAgents.com provides consumers with access to insurance information including articles, quotes, and comparisons.

http://www.insuranceagents.com/homeowners-insurance/
http://www.goarticles.com/cgi-bin/showa.cgi?C=1575738