Are You Shopping for a House?

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QUESTION:I am shopping for a house. What do I need to know about homeowner’s insurance before I buy?

ANSWER: There are two parts to a typical homeowner’s policy: (1) property coverage protects the home and contents plus losses for additional living expenses, and (2) liability coverage protects you from lawsuits. The amount of home coverage should be at least 80%, or more, of the replacement cost of your home. Coverage of the contents of your home is usually an amount at least half of the structure coverage.

Question of the day:

QUESTION: I rent a house from the owner. Do I need Homeowners coverage?

ANSWER: You cannot insure the structure (house, itself), but you can insure your personal belongings under a renters insurance contract and your landlord or lease agreement may require that you also do so.

Outside walls, doors and windows

Inspect outside walls, doors and windows each spring and fall for unusual wear or tear. Water and moisture can penetrate these common areas if they're not maintained regularly. Repair or replace caulk, weather stripping, glazing, window seals, door seals or any other exterior area damaged by use, abuse or normal weathering. Examine your exterior siding and replace any missing or damaged fasteners or screws. Repair or replace punctured siding.

Remember to look under your home for sagging, torn or water-spotted bottom barrier. This can indicate poor or damaged insulation, which may cause water lines to freeze and break. These symptoms also can indicate an existing leak.

Check your home's pneumatic storm door closer and safety chain. If these are loose or not working properly the storm door may blow open. That lets water in and can cause additional damage. Inspect exterior doors, especially wooden ones, for wear and tear and cracking.

Also check weather stripping and seals as well as the sill and the threshold for signs of leaking or other damage. Inspect the putty or caulking around metal windows. Clean and remove cracked or dried-out material and replace it with an upgraded sealant or caulk.

Protect Your Home from Water Damage

Water damage - whether caused by leaks or condensation - can do more than cause unsightly stains in your home. It can cause permanent structural damage to the home and erode its strength.

As a general rule, water damage from poor or infrequent maintenance, neglect or general deterioration isn't covered by your insurance. But proper home maintenance can help you prevent messy and costly damage to your home.