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Home Insurance

Understanding the Fine Print in Your Home Insurance Policy

As a homeowner, home insurance is essential for protecting your investment and providing peace of mind. However, the fine print of your insurance policy can be overwhelming and confusing. To help you navigate through the key terms in your home insurance policy, we have compiled a list of terms you should know:


Your deductible is the amount you’re responsible for paying out of pocket before your insurance coverage kicks in. While a high home insurance deductible means you will owe more out of pocket if you make a claim, it can also lower your premium. 

Coverage Limits

A “coverage limit” refers to the maximum amount your insurance company will pay for a covered loss. Be aware of the limits for different types of coverage, such as dwelling coverage, personal property coverage, and liability coverage.


The premium is the amount you pay for your insurance policy. It is typically on a monthly or annual basis. Your premium is calculated based on factors like your home’s location, age, and construction materials.

Policy Exclusions

A policy exclusion is a specific event or circumstance your insurance policy doesn’t cover. It’s important to review your policy exclusions to understand what risks are not covered and if you need additional coverage for those risks.

Replacement Cost vs. Actual Cash Value 

Replacement cost coverage pays for the full cost of replacing your damaged or stolen property with a new item, while actual cash value coverage takes depreciation into account. Find out which type of coverage you have for your personal property and dwelling.

Riders or Endorsements

Riders or endorsements are additional coverages that can be added to your policy for specific risks or valuable items. Common riders include coverage for jewelry, art, and home businesses. Make sure to review and consider adding riders to your policy if needed.

Loss Settlement

The term “loss settlement” refers to how your insurance company will settle a claim for a covered loss. Understanding the loss settlement process, such as whether your claim will be settled on an actual cash value basis or replacement cost basis, is crucial in knowing what to expect in the event of a claim.

By familiarizing yourself with these key terms in your home insurance policy, you can better understand your coverage, make informed decisions about your insurance needs, and ensure that you’re protected in case of unforeseen events. If you need a new home insurance policy, be sure with Nsure. Nsure will help you find a policy from one of 50 top-rated insurers in less than 5 minutes. Contact us today to get started. 


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