Posted by Pin-Yu Liao
You don't need to be in the path of a Category 5 hurricane to put yourself on alert. Do a homeowners insurance audit annually -- actually, how about right now?
Grab your policy from the back of that drawer. Now's the time to find any coverage gaps -- not after disaster unfolds.
Home grown?
Have you made improvements to your home -- added a deck lately or sunk a living room? If you've kept mum to save on premiums, that dream master bath won't be covered. Check your policy's limits on any new stuff (electronics, appliances, furniture, jewelry), and ask about riders if you're over the caps.
Also, make sure your policy pays the full replacement cost, not actual cash value (ACV). If something is damaged or stolen, ACV covers only the depreciated value -- what it was worth when it was lost.
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