Is Your Home Insurance Coverage Adequate?

The recent natural disaster to hit Colorado came as a complete shock to the residents of Holly, Colorado. Seeing images of the vast path of destruction the tornado left behind serves as a reminder that adequate home insurance coverage is necessary to begin to rebuild. Is your home insurance adequate? Here are some basic tips and links to help you determine whether you and your family are protected.

III.org has some information on what types of disasters are protected, and which are not.

To determine how much home insurance you need, consider the following factors:

  • The structure of your home.
  • Your personal possessions.
  • The cost of additional living expenses if your home is damaged and you have to live elsewhere during repairs.
  • Your liability to others.

It is important to make a realistic list using these factors when determining how much coverage you need. Check out the Insurance Information Institute’s discussion of these factors. To donate or help those families hit hardest by the tornado, click here.