The Cost of Homeowner's Insurance

This is a typical insurance policy but was slightly altered by the insurance carrier. Yearly, I pay 1021.00 for an "All Risk" policy. This means that what ever happenes, is covered unless it is specifically excluded. Sounds good to me!

Now I did my fair shopping of insurance policies and found some as cheap as 650.00. Of course it was very limited on its coverage. And even though I didnt get the most expensive which was around 1750.00 for a 1550 sq ft home, I still got what I thought, was a good policy.

Unfortunately, many times, your arent able to see the actual policy until after you purchase it. When I received the copy of my policy, I actually read it from front to back. I was very dissapointed to find that I have a limits within my policy limit on certain things.

For example, I have a 1,000 limit on jewelry, watches and furs.

Or 100.00 limit on cash or coins.

1000 for any computer related equiptment

500 for any video or camera equipment

300 on clothing! What!

1000 on appliances!

Get this, I have no coverage for my ATV or mini bike!

And I think the worst part is that I have a 1% deductible! That is over a thousand dollars for any loss I have!

I called my agent and questioned these limitations and exclusions and they tell me that I can have them insured for an additional cost. Or even increase those limits. I then asked how much more and they are talking hundres more!

I totally feel that insurance is nothing more than a scam and a rip off!

Thinking that if I picked the middle priced policy, I would get at least some good coverage. But geeze, they put a limit on almost everything I own! C'mon!

The cost of this type of coverage is WAY too much. I think that if it is required by law to have this insurance, the rates should be less or provide MUCH better coverage.

Get a friend in the industry. They can help you get the right policy.

READ your homeowners policy!

Make any adjsutments to it before its too late!