What Is Good Home Insurance? 
-- > Normal 0 What makes up a good homeowners insurance policy ? In my mind its a policy that is going to do what you want it to do , at a price you are willing to pay . The problem is , most insurance buyers dont really know what they want the policy to do . Most people seem to want a policy to repair or replace their home if its damaged . To me that means you want an all-risk policy on your home with a Guaranteed Replacement Cost feature , which automatically increases your amount of insurance following a loss , to whatever it takes to rebuild your home if it is damaged and has to be rebuilt . All - Risk type policies will not cover everything but they will specifically state what you are not covered for and you can decide where to go from there . Few policies include the Guaranteed Replacement feature ; so make sure you ask for it . And if the company doesnt offer it , you may want to check with someone else . Most people also want their personal stuff replaced should it be damaged or destroyed . So a good homeowners policy should do that . That means , all-risk replacement cost coverage for all your stuff . If its not all-risk -LRB- often called Special Coverage or Open Perils -RRB- Replacement Cost , you may want to look further . Again , not all types of damage will be covered but the policy will tell you what you are not covered for so you wont have any surprises . Often specific exclusions can be eliminated for an additional cost . Most policies dont include these features so make sure you ask for them if that is the kind of coverage you expect . Good homeowners policies will include coverage for the additional expenses you may incur should your home be damaged and you have to live somewhere else while it is being repaired and a nominal amount of Personal Liability coverage , a good one will have limits not less than $ 300,000 . A good homeowners policy will be offered by a financially strong , at least A-rated insurance company hopefully with a local contact to help you understand what you are getting , makes sure it covers any special situations that make up your life and is there should you have a significant claim . A good homeowners policy is one that doesnt get cancelled the first time you have a claim . Buying insurance on-line may be popular and convenient but you have to know what you are doing . Remember if there is a problem , you are one small policy and they are one big insurance company . It may be a good time to have somebody local on your side . 