Financial Wellness Minute: Homeowner Insurance Questions

Get smarter about your money with this Financial Wellness Minute. So there are no surprises in an emergency, here are some questions to ask as you review your homeowners insurance.

• Confirm that the home's square footage is accurate in your policy. You can ask your insurer to send someone to your house for a replacement evaluation. Also, compare the difference between adding extended replacement cost coverage and a guaranteed replacement policy which will pay to rebuild your home regardless of expense.
• Ask if you have multiple deductibles. You want to make sure you know what you would need to pay out of pocket due to a claim.
• Confirm what is covered. Many policies do not include flood insurance. Other gaps may be ‘ordinance or law coverage' to keep up with building requirements of your existing home, or you may need special coverage for jewelry or artwork.

Knowing you have the right coverage and won't be surprised in an emergency is true peace of mind. You may be able to save by bundling your auto, home and other insurance with one company for possible discounts. Looking for a free policy review or have more questions? Reach out to one of our expert agents at The Insurance Office. Want to know more about insurance options or have a weekly financial wellness tip sent to you? Sign up below or, contact your local Mid Minnesota Federal Credit Union Office. Sign Up for a Weekly Financial Wellness Tip Mid Minnesota Federal Credit Union is federally insured by the NCUA and we are an equal housing lender.