Home insurance usually boils down to two crucial concerns — protection and price. Although regulated at the state level, home insurance is more of a national product than is auto insurance, meaning you will find fewer local variations. More than half the business is written by the 10 largest carriers.
The proper home insurance coverage consists of getting the right type of policy, having the proper levels of protection within that policy — including special provisions for jewelry and your computer stuff and the like — and supplementing this coverage with special protection against natural disasters that ARE NOT COVERED in your basic policy.
Homeowners with mortgages are required by their lenders to have home insurance. Many people may think that the policy terms required by their lenders represent “OK” levels of insurance but this may not be true. Lenders want to make sure their exposure is covered but that can happen without you being fully protected. So it’s important that you determine your needs as well and make sure they are reflected in your coverage.