Many homeowners feel comfortable with their insurance policies, but they may not realize that they are underinsured. It is estimated that 50% of homeowners do not have sufficient coverage, even if they have regular CT home insurance. There are a number reasons for the number of underinsured homeowners, including:
- Lack of coverage for natural disasters
- A low limit of property coverage
- No coverage for mechanical breakdown
Natural disasters, or acts of God as they are referred to in insurance lingo, are not covered under regular CT home insurance policies. The reason is that these problems cannot be prevented. The number of natural disasters has increased globally in recent years, which should be concerning for homeowners. It is worthwhile to look into insurance for natural disasters such a flood, wind damage, and earth movement. It is also a good idea to have fire insurance. You can opt for individual varieties of insurance or look for a comprehensive plan.
Property Coverage and Mechanical Breakdown
Personal possessions are covered under regular home insurance, but there is a dollar limit to the amount you will be reimbursed. Be aware of these limits and ensure that you feel they are appropriate. Keep in mind that high-value items, such as diamond rings, are most likely not covered. Mechanical breakdown within the home is not included in CT home insurance policies. Talk to an insurance professional on how to ensure that you and your family are protected.