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Does Your Homeowners’ Insurance Have Limits?

As a homeowner, you want to make sure your property’s insurance coverage will provide the protection you need if you have to rely on it. That brings up the question of, “Does my homeowners’ insurance in Newark, DE, have limits?” We have the answer at Broadbent Insurance, Inc., and we’ll discuss it here with a broad overview.

There are limits on most policies, including homeowners’ insurance. Some of these are commonly known, such as limits on jewelry coverage, while others may be found in the fine print. Limits dictate the maximum amount paid when you make a claim. They are established to keep the price of insurance reasonable and usually limit items to the standard of what an average person would own.

It is best to thoroughly go through your policy to determine if there are any limitations. If there are limitations you are unaware of, you can receive a much lower amount than you expected if you have to file a claim. The solution could be to add a rider or endorsement to your policy for enhanced coverage on certain items.

You should discuss this question with your insurance agent to get an in-depth look at your specific policy and get the exact answers you need.