What Exactly Is Title Insurance, Anyway?
“. Things You Should Know About Homeowner’s Insurance 1. Look for exclusions to coverage. For example, most insurance policies do not cover floor or earthquake damage as a standard item. These coverages must be bought separately. 2. Look for dollar limitations on claims. Even if you are covered for a risk, there may be a limit on how much the insurer will pay. For example, many policies limit the amount paid for stolen jewelry unless items are insured separately. 3. Understand replacement cost. If your Northern Nevada home is destroyed you’ll receive money to replace it only to the maximum of your coverage, so be sure your insurance is sufficient. This means that if your home is insured for $150,000 and it costs $180,000 to replace it, you’ll only receive $150,000. 4. Understand actual cash value. If you choose not to replace your Northern Nevada home when it’s destroyed, you’ll receive replacement cost, less depreciation. This is called actual cash value. 5. Understand liability. Gene
