Homeowner Insurance Policy Quirks

No one knows better than the victims of Hurricane Katrina that we all need to read the fine print on our homeowner insurance policies. Damage due to floods is one of the typical items not covered by homeowners insurance. Separate flood insurance coverage must be obtained through the National Flood Insurance Program (www.FEMA.gov).

Other issues Huntsville home owners need to be aware of:

1. Flood. Many policies also exclude damage caused by surface waters or water blown by wind storms.

2. Mold. Each insurer is different on this one.

3. Dogs. Many policies exclude coverage of certain breeds of dogs such as, Presa Canarios, pit bulls, Dobermans and wolf breeds.

4. Replacement cost. To be reimbursed for actual replacement cost and not prorated cost of the damage requires special wording in your policy...and more money. But with construction costs rising rapidly, it can very well be worth the investment.

It is a good idea to review your policy with your insurance agent to determine you have the coverage you think your have. This could save you a lot of heartache when it really counts.

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