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Homeowner’s Checklist When Buying Insurance

by Mark Shaw on October 15th, 2010

Ask about available discounts for:

Multipolicy (home, car or other policies with the same company)

  1. Smoke detectors
  2. Fire extinguishers
  3. Sprinkler systems
  4. Burglar and fire alarms that alert an outside service
  5. Deadbolt locks and fire-safe window grates
  6. 55 years old and retired
  7. Long-time policyholder
  8. Upgrades to plumbing, heating and electrical systems
  9. Earthquake retrofitting to make the home safer
  10. Wind-resistant shutters

Get enough insurance to:

  1. Completely rebuild the house in the event it is destroyed by fire or other insured disaster.
  2. Replace everything in the house.
  3. Protect your liability in case someone is injured on your property and sues you.

Ask about additional coverage such as:

  1. Replacement cost for possessions
  2. Extended or guaranteed replacement cost for the structure
  3. Building code upgrades
  4. Sewer and drain back-ups
  5. Inflation-guard
  6. Umbrella coverage for a pool or other high-risk items
  7. Special riders for jewelry, collectibles and expensive items

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